Russian premium gasoline climbs to record high on driving rebound
Russian premium unleaded gasoline 95 RON climbed to a record high on June 18 on the back of a rebound in driving to levels before the coronavirus pandemic took hold. Continue Reading
Crude slides on US supply build, fears of COVID-19 resurgence
Crude oil futures were trading lower in mid-morning trade in Asia June 18 after latest US inventory data showed a rise in crude stockpiles for a second consecutive week, while Continue Reading
Oil Extends Drop on U.S. Stockpiles Build and China Virus Worry
The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S. Futures Continue Reading
Surprise Draw In Fuel Inventories Boosts Oil Prices
Oil prices recovered a bit on Wednesday morning after the Energy Information Administration reported an inventory build of 1.2 million barrels for the week to June 12. Fuel inventories, however, Continue Reading
Global oil demand could hit record growth rate next year, IEA warns
Fatih Birol, executive director of the International Energy Agency, forecasts that the world’s daily oil demand will climb by 5.7m barrels next year. The world’s oil demand could climb at Continue Reading
Underinvestment Could Send Oil Prices Soaring
The most recent edition of the Energy Information Agency monthly Drilling Productivity report confirmed what news reports had anecdotally told us. U.S. domestic shale production is on a decline, and Continue Reading
Prospect Of Peak Oil Demand Puts Cap On Total Global Oil Reserves
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas Continue Reading
OPEC: Global Oil Demand To Drop By 6.4 Million Bpd In Second Half 2020
Global oil demand will start to recover in the second half of the year from the crash in the second quarter, but it will still be down by 6.4 million Continue Reading
OPEC forecasts improving oil demand in H2 2020, ahead of key committee meeting
In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting a historic contraction in oil demand but improving Continue Reading
OPEC+ Meeting Ends Without Recommendation For Further Cuts
The OPEC+ technical committee that met today did not make any additional recommendations for further production cuts, focusing instead on members who are failing to adhere to the current agreement, Continue Reading