After grappling with supply-side concerns in recent months, the oil market’s main focus is now “on oil demand as economic sentiment weakens,” the IEA said, citing the weakest global trade Continue Reading
OPEC has cut its forecast for growth in global oil demand due to trade disputes and pointed to the risk of a further reduction, building a case for prolonged supply Continue Reading
OPEC on Thursday said it faces a challenging second half of 2019, with demand-dampening trade disputes combining with expected robust non-OPEC supply growth to complicate the producer bloc’s oil market Continue Reading
OPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Continue Reading
OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year Continue Reading
The Strait of Hormuz, sometimes described as the world’s most important oil chokepoint , is a gateway for almost a third of all crude oil and other petroleum products carried Continue Reading
An alleged attack Thursday on two oil tankers near the Strait of Hormuz may increase levels of risk in the Middle East’s key crude supply and shipping artery. The Front Altair Continue Reading
Iran said on Friday it was responsible for maintaining the security of the Strait of Hormuz in the Gulf, state radio reported, adding that blaming Tehran for attacks on two Continue Reading
An attack by an unknown party on two oil tankers in the Gulf of Oman has put the Arabian/Persian Gulf region on edge. After the possible Iranian attack on three vessels Continue Reading
FILE PHOTO: Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov DUBAI (Reuters) – Saudi Arabia is Continue Reading
