EghtesadOnline: As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.

EghtesadOnline: Whether it is the US sending military warnings to Iran or tensions in Venezuela, some oil traders have started to gear up for a possible price surge as political risks escalate.

EghtesadOnline: After the last two offers of crude oil on the Iran Energy Exchange (IRENEX) ending in vain, officials with the National Iranian Oil Company and capital market say they are determined to continue with the offers by sweetening the trading terms.

EghtesadOnline: Oil traders are resorting to storing more and more oil at sea amid swelling output in the Atlantic region, a sign the market is far from the kind of re-balancing that OPEC would have hoped for when the group set out last year to bring down global stockpiles.

EghtesadOnline: The largest oil traders are anticipating little relief to what has become the worst market slump in a generation.