Oil Trades Near $45 as U.S. Continues Drilling Expansion
Rigs targeting crude in America climb for a 22nd straight week Demand to rise during third quarter, United Arab Emirates says Oil traded near $45 a barrel following a fourth Continue Reading
Oil Turns Lower as Inventory Glut Continues to Pressure Market
Oil prices turned lower Monday, failing to hold on to earlier gains as the stubborn glut of oil in storage continued to weigh on the market. U.S. crude futures settled Continue Reading
Three Years On, Oil Industry Comes to Terms With Cheap Crude
Three years after the price of crude began its rapid descent, the oil industry and investors are finally resigned to the idea of lower prices for longer, potentially ending a Continue Reading
Analyst: Expect $30 Oil In 2018 Unless OPEC Deepens Cuts
Oil prices could plunge to US$30 a barrel in 2018 and maintain that low price for some two years, if OPEC fails to make steeper output cuts, Fereidun Fesharaki, chairman Continue Reading
Oil Markets Unmoved By Brewing Conflict In The Middle East
The political standoff in the Middle East between Qatar and other powers in the Middle East enters its third week, and the conflict shows no signs of abating. On June Continue Reading
World Bank: Middle East conflicts impede climate and other objectives
Jordan one of the early movers on climate initiatives, though a World Bank report finds some regional crises are working against national efforts. File photo by Stephen Shaver/UPI. June 19 Continue Reading
Iran expects contract developments with French major Total
Iran is in the final stages of signing agreements with French energy company Total to develop parts of the giant South Pars field, Iran’s energy minister said. The French energy Continue Reading
Libya Oil Output Hits 885,000 Bpd
Libya is producing 885,000 barrels of crude oil daily after last week it reached an agreement with German Wintershall that will see the latter restart production at fields with a Continue Reading
Saudis Foil Attack By Unknown Enemy On Offshore Oil Field
After last week’s attack on several vessels in the Bab Al Mandab, Middle East offshore oil operations again have been hit. According to Saudi Arabia’s national news agency SPA an Continue Reading
Oil market fundamentals heading in right direction – Saudi’s Falih
File Photo – Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 2, 2017. Saudi Energy Minister Khalid al-Falih said the Continue Reading