Oil Jumps On Expectations Of Slowing Inventory Builds
Hot on the heels of Goldman’s bullish reversal on the oil sector , in which the bank’s commodity strategist Damien Courvalin said on Friday that “it now appears likely that Continue Reading
Oil up 3% as countries ease lockdowns, production falls
Oil was up 3% on Monday as more countries announced they would begin easing coronavirus lockdowns and as crude supply cuts by the world’s top-producing nations and companies take hold. Continue Reading
Oil, Energy News: Latest Updates for May 4, 2020
Oil rallied for a fourth day as the pace of stockpile builds at the key U.S. storage hub slowed last week. Futures rose 3.1% in New York Monday, closing above $20, after Continue Reading
Goldman Sachs Predicts $51 Oil In 2021
Goldman Sachs raised its estimate for WTI Crude prices in 2021 to $51.38 per barrel from $48.50, expecting a gradual recovery in global oil demand and production cuts from OPEC+ Continue Reading
Will Oil Markets Ever Recover?
Oil companies, oil refiners, and oil traders believe that the worst of the demand destruction is already behind us. But the jury is still out on how long it will Continue Reading
Oil Supply Data Should Show More Non-OPEC Shut-ins
Time will tell if oil price stability, or even an increase, will result from actions by OPEC+ and other producers. Newly updated data on oil production from non-OPEC members, coupled Continue Reading
World leaders join to pledge $8 billion for vaccine, but the U.S. sits out.
A fund-raising conference on Monday organized by the European Union brought pledges from countries around the world — including Japan, Canada, Australia and Norway — to fund laboratories that have Continue Reading
Global warming to push billions outside climate range that has sustained society for 6,000 years, study finds
In the current climate, mean annual temperatures of greater than 84.2 degrees Fahrenheit (29 degrees Celsius) are restricted to the small dark areas in the Sahara region. In 2070, such Continue Reading
OPEC Middle East Oil Flows Surged in April as Saudis Opened Taps
Crude supplies from OPEC’s Middle East exporters, excluding Iran, soared in April to their highest level since at least January 2017. The surge came as Saudi Arabia and the United Continue Reading
Why The Next Oil Price Cycle Is So Important For Saudi Arabia
Time is running out for oil-dependent nations. The world is transforming quickly and climate change is accelerating oil’s demise even faster. Despite fossil fuel’s so-called imminent fall of grace with Continue Reading