Oil stayed within sight of its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although concern about slowing economic growth that would curb demand Continue Reading
Brent oil prices should trade between a relatively narrow range of $50 to $70 per barrel through 2024, with prices “anchored” around $60, according to a new report from Bank Continue Reading
Crude oil sentiment is shifting in a bullish direction, with OPEC+ cuts and a growing list of serious outages taking supply off of the market. Saudi Arabia recently signaled that Continue Reading
Officially, Venezuela has the world’s largest crude oil reserves with 303 billion barrels of proved reserves. But, a lot of this oil is extra-heavy crude oil, and may not be Continue Reading
Saudi Arabia’s crude oil exports plunged by nearly 550,000 bpd to 7.687 million bpd in December 2019, down from a two-year high in November, as the Kingdom started to limit supply after Continue Reading
Iran has launched the third phase of a new refinery, making the country self-sufficient in gasoline production, Iranian Oil Minister Bijan Zangeneh said on Monday. At the opening ceremony of Continue Reading
State-owned Indian Oil Corp (IOC) has signed its first annual deal to buy US oil, paying about $1.5 billion for 60,000 barrels a day in the year to March 2020 Continue Reading
Amid increasing tensions between longtime regional antagonists India and Pakistan, Saudi Arabia’s Crown Prince Mohammed bin Salman (MbS) pledged $20 billion to Pakistan on his trip to Islamabad on Sunday. Continue Reading
Crude oil deposits discovered in Kenya are insufficient to justify construction of a refinery, a senior petroleum ministry official said on Tuesday. Kenya discovered commercial oil in 2012 in its Lokichar Continue Reading
Opposition from farmers has prompted India’s western state of Maharashtra to move the location for what would be the country’s biggest oil refinery, Chief Minister Devendra Fadnavis said. Stare-run oil companies Continue Reading
