Oil prices rise on OPEC+ cuts, record China imports
Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high Continue Reading
Oil Extends Rally After OPEC+ Prolongs Record Production Cuts
Oil rose toward $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month. Brent futures added as much as 2.6% and Continue Reading
Shipping industry warns of trade logjam as crews remain stranded
The international shipping industry has warned of a threat to global trade from a mounting crisis on board merchant vessels, with up to 400,000 crew stranded either at sea or Continue Reading
Pandemic Shows a Low-Carbon Future in Dire Need of Batteries
Coronavirus has exposed a lack of investment in the big batteries crucial to unlocking solar and wind power. A drop in energy demand caused by the pandemic has left European grids Continue Reading
Covid-19 Affects How Much CO₂ the Oceans Absorb, Slowing Warming
Scientists have struggled for decades to explain a climate mystery as deep as the ocean. Oceans have absorbed almost 40% of carbon dioxide humanity has emitted from fossil fuels since 1750, considerably Continue Reading
Saudi Arabia’s oil export revenue falls 21.9%
Saudi Arabia’s export revenue was Riyal 197.84 billion ($52.69 billion) in Q1 2020, down 20.7% from the same quarter in 2019, mainly due to a 21.9% decline in oil export Continue Reading
Iran appoints Zamaninia as OPEC governor
Amirhossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, was appointed the country’s OPEC governor, replacing the recently deceased Hossein Kazempour, the oil ministry’s news service Shana reported Continue Reading
IRAQ DATA: May crude oil production 4.213 million b/d, well above OPEC+ quota
Iraq on June 7 reported its May crude oil production was 4.213 million b/d, well above its OPEC+ quota, one day after it agreed to improve its compliance with historic Continue Reading
Libya restarts 300,000 b/d Sharara oil field after months of shut-in
Libya’s largest oil field Sharara restarted production this weekend, after the 300,000 b/d site was shut-in for almost five months due to an oil blockade, stateowned National Oil Corp. said Continue Reading
Iraq parliament approves Basra Oil Company head as new oil minister
Iraqi lawmakers on June 6 confirmed the appointment of Ihsan Ismael as the country’s new oil minister, according to local media. Receive daily email alerts, subscriber notes & personalize your Continue Reading