Oil retreated to near $38 a barrel after a U.S. industry report signaled a surprise jump in crude inventories, underscoring the market’s patchy road to rebalancing. Futures dropped 2.4% in New Continue Reading
Crude oil prices spiked late June 9, ending in positive territory after trading down for most of the day, following a bullish US government report on 2021 global oil demand Continue Reading
The extension of the OPEC+ production cut agreement did little to move oil prices as it had already been baked into oil prices Chart of the Week – Canada is Continue Reading
Airline losses are surging to unprecedented levels expected to be more than three times those following the 2008 global economic slump, according to the industry’s main trade group. The International Air Transport Continue Reading
A strange-looking contraption that could represent a new frontier in clean energy wallowed in the water alongside a coal dock here in a bay in northwest Spain. This floating windmill with Continue Reading
OPEC and its allies slashed almost one-fifth of their crude oil production in May, the first month of their landmark supply accord, according to the latest S&P Global Platts survey Continue Reading
OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started Continue Reading
Libya’s largest oil field reopened June 9 just a few hours after it had been shut by an armed group, underscoring the fragility of the country’s much-anticipated return to export Continue Reading
Libya’s National Oil Corporation (NOC) declared force majeure on exports from its Sharara oilfield on Tuesday, saying an armed group had shut production again just days after it had resumed. Continue Reading
Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters Continue Reading
