Oil prices extend losses as oversupply worries drag
Oil prices edged down on Tuesday after a Russian minister said the nation and OPEC may boost crude output to fight the United States for market share, checking a recent Continue Reading
Crude futures slip amid expected stock build, US economic concern
Crude oil futures were lower Tuesday during mid-morning Asia trade amid an expected build in US crude inventories and concern about the strength of the US economy. At 10:30 am Continue Reading
Oil rally stalls on talk of OPEC+ boosting output
Oil prices halted their rally on Monday, with both benchmarks down nearly 1 percent, after Russia’s finance minister said Russia and OPEC may decide to boost production to fight for Continue Reading
‘High’ Oil Prices Are Already Dampening Demand
Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview . “The higher oil price environment Continue Reading
The Case For $100 Oil
The odds of an oil price spike this year are much higher than the prevailing consensus in the market, according to a new report from Bank of America Merrill Lynch. Continue Reading
Iraq’s Solution To Stranded Kurdistan Crude
Iraq is set to build an oil refinery of 150,000 bpd processing capacity in the northern city of Kirkuk, according to Iraqi Oil Minister Thamer Ghadhban. The ministry said that Continue Reading
Nigeria: No Removing Subsidy, Says Govt As Fuel Shortage Worsens Nationwide
The nation’s fuel shortage has worsened as consumers spent the weekend on queues for the product, despite assurances by the Nigerian National Petroleum Corporation, NNPC. Meanwhile, the Federal Government yesterday, Continue Reading
Nigeria: Petrol Scarcity – NSCDC Threatens Showdown With Ekiti Dealers
The Nigerian Security and Civil Defence Corps (NSCDC) will on Monday begin a clampdown on petrol dealers hoarding or diverting products in Ekiti State. The NDCDC, Ekiti Command, said it Continue Reading
Think Tank: Mexico’s New Refinery Already Doomed
A Mexican think tank has declared that Pemex’s newest refinery is doomed in a grim analysis released this month. The Mexican Institute for Competitiveness (Instituto Mexicano para la Competitividad, or Continue Reading
Fuel-Starved Haiti In Crisis As Venezuela Deal Dies
The poorest nation in the Western hemisphere has seen its fuel supply increasingly challenged since a program designed by Venezuela to supply fuel and gain influence in the Caribbean collapsed Continue Reading