Are Oil Bulls In For A Disappointing July?
The oil market continues to tighten, but the surge of coronavirus cases in the U.S. could derail the rally in crude prices. OPEC+ can claim most of the credit for Continue Reading
Oil Prices Rise Amid Drop in US Inventories
Crude gained after signals of shrinking stockpiles in the U.S., but fears of the virus crimping demand are holding futures back from rallying past $40 a barrel. The Energy Information Continue Reading
Oil Rallies On Bullish EIA Inventory Data
Crude oil inventories in the United States shed 7.2 million barrels in the week to June 26, the Energy Information Administration reported . Analysts had expected an inventory decline of Continue Reading
Oil Glut At Sea Starts To Shrink
The huge volumes of oil held at sea have started to shrink and are expected to continue declining into the second half of this year, thanks to recovering demand and Continue Reading
Oil majors face up to plunging asset values
In previous energy downturns, prices slumped but companies kept faith in their oil and gas investments. This time it might be different, as the prospect sinks in that the pandemic’s Continue Reading
Global flight passenger demand down 91% on year in May: IATA
Global flight passenger demand, measured in revenue passenger kilometers or RPK’s, contracted 91% on the year in May, after falling 94% in April, the International Air Transport Association said July Continue Reading
Goldman Says Refineries to Shut on Less Demand, New Projects
The global refining industry is entering a consolidation phase as slowing oil demand growth is set to coincide with large-scale projects that will start coming online next year, according to Continue Reading
Climate Change News: Clean Technology Spend Triple to Hit Goals
Government spending to develop clean energy technologies needs to triple this decade in order to prevent the worst effects of climate change, according to the International Energy Agency. As the rapid Continue Reading
Prominent Climate Activist Apologizes For ‘Alarmism’
Michael Shellenberger, Time magazine “Hero of the Environment,” apologized on behalf of environmentalists for the climate alarmism they had propagated over the past three decades. Shellenberger, president at Environmental Progress Continue Reading
OPEC Production Falls To Three Decade Low
OPEC’s oil production in June came in at the lowest level since May 1991 during the Gulf War, and collectively meeting its promised cut. For June, OPEC cut its production Continue Reading