An Unlikely New Hotspot For Energy Storage
For decades, the North Sea has been delivering much of the oil and gas to the world’s global supply of fossil fuels. As technologies advanced and climate change concerns increased, Continue Reading
Crude oil futures slip on IMF report, awaits US data
Crude oil futures moved lower during mid-morning trade in Asia Tuesday following the release of the latest International Monetary Fund report, where it downgraded its oil price and growth forecasts Continue Reading
Oil drops more than 1 percent as China slowdown bites
Oil prices fell more than 1 percent on Tuesday on signs that an economic slowdown in China was spreading, stoking concerns about global growth and fuel demand. The gloomy news Continue Reading
Oil edges up as investors latch on to OPEC cuts, supply outlook
Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China’s economic growth is cooling and instead latched on to positive supply-side drivers for Continue Reading
Oil Prices in 2019 May Hinge on U.S.-Iran Showdown
This year, the factors that will most likely drive the price of oil are the Trump administration’s showdown with Iran and the strength of the global economy. In other words, Continue Reading
IMF cuts 2019, 2020 oil price forecasts on global demand concerns
The International Monetary Fund Monday cut its forecast for average oil prices to just below $60/b in 2019 from close to $70/b in its last World Economic Outlook in October Continue Reading
Energy Transition Will Upend Geopolitics
The rapid adoption of renewable energy will “redraw the geopolitical map of the 21 st century,” according to a new report that surveys the geopolitical implications of the clean energy Continue Reading
“Remorseless’’ Cost Reductions Drive Renewable Energy Revolution
Renewable energy will march forward this year, due to “remorseless reductions in the costs of solar and wind electricity and of lithium-ion batteries,” Angus McCrone, the chief editor of Bloomberg Continue Reading
Why OPEC+ Output Cuts Take So Long To Materialize
The oil production cuts that OPEC and its partners led by Russia agreed at the end of last year are proving slower to materialize than most observers expected, with Russia Continue Reading
IMF Slashes Saudi Growth Outlook On Lower Oil Prices, Production
The International Monetary Fund (IMF) cut on Monday its forecast for Saudi Arabia’s economic growth this year to 1.8 percent, down by 0.6 percentage point from the previous economic outlook Continue Reading