Crude prices settled slightly lower on Thursday, extending the previous session’s losses as the escalating China-U.S. trade dispute casts doubt over the outlook for oil demand. Brent crude futures LCOc1 Continue Reading
Singapore — The International Energy Agency on Friday raised its estimate of world oil demand growth next year to 1.5 million b/d from 1.4 million b/d, anticipating the impact of Continue Reading
Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d. For 2018, Continue Reading
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, Continue Reading
Iraq’s crude oil production rose to its highest level in 13 months in July—to 4.46 million bpd, Platts quoted the Iraqi State Oil Marketing Organization (SOMO) as saying on Thursday. Continue Reading
Shell’s presence in Nigeria has been controversial, what with lawsuits for the pollution of the Niger Delta, chronic pipeline vandalism and, in recent years, militant attacks on oil-producing infrastructure. But Continue Reading
LONDON (Reuters) – A huge oil refinery being built in Nigeria by Africa’s richest man is unlikely to start production until 2022, two years later than the target date, sources Continue Reading
The United Arab Emirates will build an oil pipeline connecting Eritrea’s port city of Assab with Ethiopia’s capital Addis Ababa, an Ethiopian state-affiliated broadcaster said on Friday. Fana Broadcasting said Continue Reading
Vietnam boosted imports of crude oil in July as the 200,000 b/d refinery at Nghi Son was preparing for trial runs of 100% capacity in September. Receive daily email alerts, Continue Reading
While it’s true that China’s crude oil imports recovered slightly in July, it was still among the lowest so far this year due to a decline in demand from smaller Continue Reading
