Oil At Highest Level Since 2014
Oil prices pulled back slightly on Friday following a week of bullish news, and despite an increase in U.S. oil production, crude prices are set to continue climbing. Friday, May Continue Reading
Oil prices losing grip on $80 ceiling
After making a run at $80 per barrel this week, crude oil prices were mixed early Friday amid concerns about the economic consequences of the bull market. The price for Continue Reading
IEA Cuts Oil Demand Forecasts As Markets Evolve
The IEA has cut oil demand forecasts as the recent growth in oil prices continues. The agency expects demand to fall in response to high prices, but there are a Continue Reading
Investors With $10.4 Trillion Assets Urge Big Oil To Tackle Climate Change
Large global investors—representing a combined US$10.4 trillion worth of assets under management—urged oil and gas companies on Friday to start acting responsibly in tackling climate change, putting pressure on Big Continue Reading
Exclusive: BP chief sees shale, OPEC cooling oil markets
BP Chief Executive Bob Dudley expects a flood of U.S. shale and the reopening of OPEC taps to cool the oil market after crude rose above $80 a barrel this Continue Reading
Riyadh works to allay India’s concerns about oil prices
India should rest assured that Riyadh will do its part to ensure its economy can move forward in the face of higher oil prices, the Saudi energy minister said. Saudi Continue Reading
Europe to shield energy companies working with Iran
European companies will be protected from U.S. sanctions triggered by President Trump’s withdrawal from the JCPOA, the European Commission president said. Jean-Claude Juncker said Friday there was a unified position Continue Reading
EU launches package to counter US sanctions on Iran
The EU announced a package of measures on Friday to counter US sanctions on Iran, setting up a potential new conflict with Washington as Europe fights to save a landmark Continue Reading
Shell Declares Force Majeure On Bonny Light Shipments
The Nigerian subsidiary of Shell has declared force majeure on Bonny Light exports because of the shutdown of the Nembe Creek pipeline, which has led to the accumulation of lots Continue Reading
Ghana Looks To Award Nine Offshore Oil Exploration Blocks
West African country Ghana, a relative newcomer to the oil industry, plans to award as many as nine offshore blocks off its west coast in 2018 and 2019, Ghana’s energy Continue Reading