Oil slips on weaker Chinese demand, traders await OPEC+ cuts
Oil prices slipped on Monday on weaker Chinese oil demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in Continue Reading
Oil prices heading for ‘mid $40s’ a barrel in few weeks on demand: Starfuels brokerage
Oil prices will probably drop to the “mid-$40s” a barrel in the next couple of weeks because of weak demand, according to Matt Stanley, director of Starfuels commodities brokerage. Supply Continue Reading
The threats to energy security have changed
Despite plentiful supplies of fuel and low prices, energy security is a global concern. The fear 30 or 40 years ago was that supplies would be cut off by Opec Continue Reading
Goodbye, January — goodbye, another heat record
If you found last month unusually balmy for the middle of winter, you’re not alone. According to the Copernicus Climate Change Service, January was the hottest one of its kind Continue Reading
OPEC’s Oil Production Plunges, But It May Not Be Enough
OPEC saw its crude oil production dip by nearly 500,000 bpd in January from December, overcomplying with the collective cut, the monthly S&P Global Platts survey showed on Friday, but Continue Reading
OPEC+ Cuts Fail To Boost Oil Prices
After deliberations, Russia appears set to support Saudi Arabia in the push for deeper production cuts. OPEC’s Joint Technical Committee met on Tuesday, and it was only supposed to be Continue Reading
Iran awards $1.3 bil contract to develop 2 oil fields
Iran awarded a $1.3 billion contract to a domestic company for improved oil recovery at two onshore oil fields in the southwest part of the country, oil minister Bijan Zanganeh Continue Reading
Azerbaijan says early OPEC+ meeting unlikely; Iran backs more output cuts
Azerbaijan energy minister Parviz Shahbazov said it’s unlikely the OPEC+ coalition of oil producers will move up their meeting that’s scheduled for early March. Receive daily email alerts, subscriber notes Continue Reading
For Thousands of Years, Egypt Controlled the Nile. A New Dam Threatens That.
The Egyptian farmer stood in his dust-blown field, lamenting his fortune. A few years ago, wheat and tomato-filled greenhouses carpeted the land. Now the desert was creeping in. “Look,” he Continue Reading
Iran’s Gas Industry on the Verge of Collapse, but Rising Gas Prices Are on the Way
The collapse of Iran’s gas industry has put the country in a situation where, in addition to a significant reduction in gas exports, inside Iran, citizens are also facing a Continue Reading