Forecast for major oil benchmarks lowered
Because of the conflicting forces at play for crude oil prices, the trend is sluggish and the forecast for major benchmarks is lower, RBC Capital Markets said. The price for Continue Reading
Oil benchmarks pulled in two different directions by hurricanes
The mixed impact from hurricanes in the United States left the U.S. and global benchmarks for crude oil moving in opposite directions early Monday. Irma was downgraded to a tropical Continue Reading
Oil mixed amidst Irma demand fears, Saudi cut extension talks
Oil prices were mixed on Monday, with Hurricane Irma’s continued pounding Florida raising demand fears, while U.S. refinery restarts and Saudi cut extension talks gave upward pressure. Brent crude oil Continue Reading
OPEC Tactics Raise Production Costs Around The World
Efforts by the Organization of Petroleum Exporting Countries (OPEC) have raised the costs of producing oil and gas by roughly $160 billion, transforming the industry, according to a new business Continue Reading
How OPEC Was Hurt By The Hurricanes
Hurricane Irma was downgraded to a tropical storm early Monday, although it is still bringing floods and damage to much of Florida as it makes its way north, leaving millions Continue Reading
Should OPEC Extend The Production Cut Deal?
Saudi Arabia’s Energy Minister Khalid al-Falih has discussed with his Venezuelan and Kazakhs counterparts the option of extending the crude oil production cut deal beyond the March 31, 2018 deadline, Continue Reading
Baker Hughes gets in on Egyptian natural gas bonanza
A contract to provide services for the giant Zohr natural gas field off the Egyptian coast is a win-win for its economy and our business, Baker Hughes said. Drilling services Continue Reading
Russia Urges GCC To Resolve Qatar Dispute
The Russian foreign minister has urged a coalition of Arab states led by Saudi Arabia to negotiate with Qatar to end a bitter diplomatic dispute that has raised tensions on Continue Reading
Saudi Aramco Boosts Crude Oil Stockpiles In Japan
Saudi Aramco will fill on Wednesday all of its 8.18 million barrels of leased crude storage capacity in southwestern Japan, a source at the Japanese Ministry of Economy Trade and Continue Reading
Alamri out as head of Iraq’s oil sales
Iraq’s longtime head of oil sales, Falah Alamri, has been transitioned from director general of the State Oil Marketing Organization (SOMO) to advisor to the Oil Ministry. Alaa al-Yassiri, acting Continue Reading