This Could Be The Beginning Of A Tremendous Oil Rally
If you’re a fan of oil, and I expect you are seeing as how you’re reading articles on OilPrice, get ready for a positive forecast about oil prices moving higher. Continue Reading
Supply Destruction Could Send Oil To $70
The current dramatic cuts in exploration and production will have a long-lasting impact on the global oil market, with oil prices spiking to above $68 a barrel in 2025, when Continue Reading
Could Renewable Spending Solve The Unemployment Crisis In Oil?
Last week the World Economic Forum published a report imploring the energy industry to use this unprecedented disruption of the status quo to consider building a “ new energy order Continue Reading
Aviation Crisis Could Cause Lasting Damage To Oil Markets
Last Friday, Warren Buffett served a new blow to an already troubled industry, shaking it to the core: The celebrity investor announced that Berkshire Hathaway had sold all its holdings Continue Reading
IEA Chief Calls For Boost To Battery And Hydrogen Technology
The executive director of the International Energy Agency (IEA), Fatih Birol, said that the turmoil in the oil sector caused by the covid-19 pandemic gives governments the perfect opportunity to Continue Reading
OPEC has much cutting to do after April crude output surge: Platts survey
Highlights Bloc pumped 30.79 million b/d in April Saudi Arabia, UAE, Kuwait hit record highs OPEC+ deal imposes tough quotas in May London — OPEC turned up the taps in Continue Reading
Russia And China Are Battling For Influence In Oil Rich Iraq
With the U.S.’s patience wearing thin on its dealings with neighbouring Iran, endemic corruption still prevalent in both the south of the country and in the northern semi-autonomous region of Continue Reading
Will The World’s Largest Oil Company Cut Its Dividend?
It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Continue Reading
Fujairah Data: Oil product stockpiles climb to highest level on record
The volume of oil products held in storage at Fujairah jumped to the highest level on record as tumbling regional demand from the coronavirus pandemic drives more supplies into the Continue Reading
Pakistan likely to face petrol, diesel shortage in May, June
Pakistan is likely to run out of petrol and diesel in May and June to meet local demand as the government’s lack of firmness in resolving differences over lockdown compounded Continue Reading