EIA Raises Brent Crude Oil Price Outlook
The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast Continue Reading
Oil Price Rally On Hold After API Reports Rising Crude Inventories
The American Petroleum Institute (API) estimated on Tuesday a build in crude oil inventories of 2.048 million barrels for the week ending July 3. Analysts had predicted an inventory draw Continue Reading
In The Physical Oil Market, Sour Barrels Trade at Sweet Prices
Leaving behind the waters of the Caribbean Sea, the 1,100-feet long oil tanker Maran Apollo is emblematic of the wider petroleum market. Steaming at 11.5 knots, she’s heading toward China, where Continue Reading
Big Oil’s Investment Risk Is Spiking
The major integrated oil companies: Shell,(NYSE:RDS.A, RDS.B); ExxonMobil, (NYSE:XOM); BP, (NYSE:BP); Chevron, (NYSE:CVX), and a few others, so named for their vertical stewardship of the hydrocarbon molecule from initial extraction Continue Reading
The World Can’t Take Much More Shale Gas
The coronavirus pandemic has stalled factories and shut down business around the world, causing a historic drop in oil demand just as production was reaching new highs. WSJ explains the Continue Reading
The Coronavirus Redraws the Car Market’s World Map
In recent years, purchasing managers indexes have become important indicators of where the global economy might be heading. But in the current slowdown, where small businesses were some of the Continue Reading
Self-Driving Fully Electric Cars Will Be the Ultimate Green Move
Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery Continue Reading
Planet posts hottest June on record, tied with last year
June 2020 tied for the planet’s warmest on record, closely matching the anomalously toasty temperatures observed globally during June last year. But one region, in particular, saw heat virtually off Continue Reading
OPEC+ cuts deeper in June on pressure to boost oil market recovery: Platts survey
OPEC slashed its crude output in June to a three-decade low, according to an S&P Global Platts survey, as the bloc and its allies, including Russia, continued their campaign to Continue Reading
Abu Dhabi Raises Much-Needed Cash In Landmark Gas Deal
With a projected budget breakeven oil price of US$69.1 per barrel of Brent this year, according to IMF figures, but accounting for around 96.8 per cent of the UAE’s 98 Continue Reading