Brent crude prices pared gains to settle near unchanged after hitting $80 a barrel Thursday, as Washington’s decision to reinstate sanctions on Iran continued to fuel a rally that has Continue Reading
New US sanctions that will hit Iran’s energy industry and the fallout of Venezuela’s economic collapse have raised fears of significantly tighter global oil supplies, sending prices above $80 a Continue Reading
There is a lively debate in the world of oil & gas surrounding the concept of peak demand . In essence, this debate centers around the question of when oil Continue Reading
The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela’s oil sector could push oil prices beyond $100/b, Patrick Pouyanne, Continue Reading
On Thursday, Brent topped $80 per barrel for the first time since November 2014, breaching a psychological threshold amid tightening inventories and widening geopolitical risk. Yet, even as oil prices Continue Reading
Within a year, world oil consumption will top 100 million barrels of oil per day. Over the same time period, close to 100 million new piston-firing vehicles will be bought Continue Reading
Iraq’s election on May 12 has upended the political landscape in the country. The incumbent Prime Minister, Haidar Al Abadi, lost the election as voters favored Iraqi nationalist Moqtada al-Sadr, Continue Reading
Iran is expecting to see a decline in its crude oil exports to South Korea as a result of U.S. sanctions on tanker transport, the managing director of the National Continue Reading
Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 Continue Reading
Vitol, Glencore, and Shell—the three biggest oil traders in the world—are in the running to buy the Nigerian oil assets of Brazil’s state oil firm Petrobras, Reuters reported on Thursday, Continue Reading
