COVID Fears Cause Oil To Fall Back After A Brief Rally
Oil spiked on a larger than expected inventory draw this week, but fears of a second wave of COVID have caused crude prices to retreat For Global Energy Alert members Continue Reading
Jet Fuel Demand Still Has A Long Way To Recovery
Jet fuel demand for commercial flights crashed during the worldwide lockdowns in April, and although some of the demand has returned, jet fuel consumption in July was still nearly 70 Continue Reading
Nigeria Looks To Settle Export Dispute With Big Oil Firms
The Nigerian National Petroleum Corporation (NNPC) has signed a preliminary agreement with two companies over a dispute about foreign firms exporting Nigerian oil from some offshore fields, which could pave Continue Reading
A Worrying Sign For Two Major Oil Hotspots
Active Rigs Fall to Zero in Two Oil Hotspots In the latest sign of the times, and what very well may be an indicator of things to come, two major Continue Reading
Fuel Rationing Plunges Oil-Rich Venezuela Deeper Into Crisis
Venezuela is once again shuttering gas stations across the country as the chronic shortage of fuel deepens due to ailing refineries and crippling sanctions limiting imports into the country. State oil Continue Reading
Chinese Oil Imports Slip But Remain 25% Higher Than In 2019
China imported 12.08 million bpd of crude oil last month, according to official customs data, which was lower than the record-breaking import rate in June but 25 percent higher than Continue Reading
New Chapter in U.S.-China Ties Marked by Confrontation
The Trump administration’s cascade of actions taken against Beijing represent a new chapter in U.S.-China relations, one marked by increasing confrontation and few efforts to de-escalate the tensions. Business leaders, Continue Reading
China’s July exports rise despite coronavirus, US tariff war
China’s exports rose by an unexpectedly strong 7.2% in July as the world’s second-largest economy recovered from the coronavirus pandemic. Sales to the United States jumped 12.5% despite a plunge Continue Reading
Oil Drilling Drops to 15-Year Low With Shale in Full Retreat
Drillers cut exploration in U.S. oil fields to a 15-year low as billions of barrels from old discoveries became worthless and explorers abandoned growth plans. The number of active oil rigs in Continue Reading
Going Green Is Easier Done Than Said For The U.S.
As the rest of the world follows the global trajectory toward an energy transition, moving away from fossil fuels to alternative forms of energy, whether in the interest of creating Continue Reading