The U.S. Energy Information Administration’s recently released International Energy Outlook 2016 (IEO2016) projects that world energy consumption will grow by 48% between 2012 and 2040. Most of this growth will Continue Reading
Russian Energy Minister Alexander Novak told reporters on Thursday that the global oil surplus stood at 1.5 million barrels per day (bpd) and that the market might not balance out Continue Reading
Global oil consumption is growing much faster than most analysts expected at the start of the year but increases in demand remain very uneven geographically and by fuel. World oil Continue Reading
Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude Continue Reading
Glencore PLC and Vitol Group, the world’s two largest independent oil traders, are close to signing a long-term deal to purchase Iranian crude, a top Iranian official said. The potential Continue Reading
Kirkuk Oilfield Two wells at the Khabaz oilfield near Kirkuk, in northern Iraq, sabotaged by ISIS last week are still on fire, with production suspended and losses amounting to some Continue Reading
Saudi Arabia is going through one of the most difficult periods in its modern history. Oil prices have dropped from a July 2014 high of $115 per barrel to less Continue Reading
Oil storage and refinery Iran has introduced a discount on the June contract for its heavy crude going to Asia, just a few days after Saudi Arabia announced a price Continue Reading
American Special Operations troops have been stationed at two outposts in eastern and western Libya since late 2015, tasked with lining up local partners in advance of a possible offensive Continue Reading
Full crude oil production from the Partitioned Neutral Zone between Saudi Arabia and Kuwait could restart in a year, head of research at Kuwait Petroleum Company Abdulaziz Al Attar said Continue Reading
