Demand growth for refined oil products will never return to the levels it reached before the coronavirus outbreak, Citigroup said. As the global economy restarts, fewer people will fly and use their cars, Continue Reading
1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia faithfully delivered the extra curbs promised in June, Continue Reading
Saudi Arabia has threatened to ignite an oil-price war unless fellow OPEC members make up for their failure to abide by the cartel’s recent production cuts, delegates said. Saudi energy Continue Reading
Iraq is looking to attract investment from Saudi Arabia in one of its natural gas fields, Iraqi Deputy Prime Minister and Finance Minister, Ali Allawi, told Bloomberg , while OPEC’s Continue Reading
Highlights Force majeure clause still in place at key oil terminals Talks to restart production ongoing, revenue mechanism still being decided One tanker on way to load crude from Es Continue Reading
Even before the latest Saudi-instigated oil war crashed oil prices, Oman had a budget breakeven price per barrel of Brent of over US$85, with a senior legal source in Abu Continue Reading
Stuck midway in reforming its energy sector by chopping down unnecessary assets and optimizing the national NOC’s role vis-à-vis the government, Angola has endured a lot of strain in the Continue Reading
The world’s fastest-growing oil market is showing an uneven recovery two months after easing demand-destroying virus-control measures. Provisional fuel sales in June had climbed within 88% of 2019 levels from less Continue Reading
Venezuela’s crude oil production tumbled by nearly 200,000 bpd in June compared to May, to just 422,400 bpd on June 28, as Venezuela struggles to place its oil on the Continue Reading
A legal fight over a gasoline cargo anchored near Houston is indicative of the shipping industry increasingly refusing to have anything to do with Venezuela and the efficiency of the Continue Reading
