Questions about what the U.S. president will do with oil-related sanctions on Iran and a drop in U.S. crude oil inventories sent oil prices higher on Wednesday. “A lot of Continue Reading
Oil hit a six-week high on Wednesday, closing in on a 3-year peak set in late January, on a surprise decline in U.S. inventories, strong compliance on OPEC production cuts, Continue Reading
The world’s largest independent oil trader, Vitol, is looking to secure long-term deals with some of the biggest oil-producing countries in the Middle East, in what has become a challenging Continue Reading
The number of older VLCCs sent for scrap so far this year has been “somewhat astounding”, Clarkson Research states in its latest weekly report. Fellow broker Gibson reports that 15 Continue Reading
The world’s oil supermajors and largest oil trading companies are not in agreement on the future trends in oil demand, a recent event has revealed. This, although normal, should serve Continue Reading
Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast, a joint OPEC and the non-OPEC committee said, Continue Reading
A fractured political landscape is creating economic headwinds for oil-rich Libya, Human Rights Watch said. File photo by cherezoff/Shutterstock March 21 (UPI) — Oil-rich Libya is risking economic opportunities with Continue Reading
In February, Noble Energy and its partners reached an agreement with the Egyptian company Dolphinus Holdings to sell gas from offshore Israel to Egypt, a deal that could jumpstart a Continue Reading
The global oil market is close to regaining stability, Saudi Arabia’s Crown Prince Mohammed said at a meeting with President Trump at the White House ahead of bilateral talks on Continue Reading
Iran has drastically cut its gasoline imports in recent weeks as it started the second phase of an oil refinery, moving closer to reaching gasoline independence, Reuters reported on Wednesday, Continue Reading
