Leaders of the global economy are warning that the recovery from this year’s recession is at risk and could be derailed as the resurgence of Covid-19 forces fresh restrictions on Continue Reading
It all started with Hurricane Hanna, which swirled in from the Gulf of Mexico to Padre Island, Tex., on July 25. Originally forecast to move into South Texas as a Continue Reading
While the OPEC+ group considers extending the production cuts for three months, oil output in Libya continues to increase and has returned to 1.25 million bpd, the level the OPEC Continue Reading
While many Gulf nations were already working to diversify their economies prior to the coronavirus pandemic, the subsequent economic downturn and collapse in oil prices has meant that governments in Continue Reading
Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent Continue Reading
Anonymous UAE officials claimed earlier in the week that the country was considering breaking away from OPEC, citing the difficulties it is facing due to the stringent production cuts it Continue Reading
The United Arab Emirates ratcheted up tension with oil allies in OPEC+, with officials privately questioning the benefits of being in the producers’ alliance and even considering whether to leave Continue Reading
Fuel shortages in Venezuela are so bad amid the deepening crisis at its state oil firm that Venezuelans are stealing crude oil from idle oilfields and processing it at home Continue Reading
Opposition leader Juan Guaidó, whom the U.S. considers Venezuela’s legitimate president, during a rally last month. Creditors from hedge funds to oil companies are moving closer to seizing billions of Continue Reading
While oil demand in Europe and the United States continues to disappoint, refiners in Asia are racing to procure crude from around the world, giving the oil market some hope Continue Reading
