President Vladimir Putin said Thursday that the Russian budget was becoming less dependent on oil and gas, key exports for one of the world’s dominant petro-economies. Putin told reporters during Continue Reading
Crude oil prices ticked down during midmorning trade in Asia Dec. 18 as renewed uncertainty about the US stimulus package emerged while pandemic considerations weighed on the market. Receive daily Continue Reading
Crude oil prices are on the rise again after a short reversal of fortunes prompted by a huge crude oil inventory build reported by the U.S. EIA last week and Continue Reading
Oil prices slid from nine-month highs on Friday, with soaring COVID-19 cases seen as a threat to near-term fuel demand and a strengthening of the U.S. dollar also having a Continue Reading
Oil climbed to the highest since February as U.S. lawmakers discuss a virus relief deal that could provide a near-term boost to demand ahead of a wider distribution of the Continue Reading
Since the Oil Crisis of 70’s and early 80’s, the price of crude oil has remained, mostly, in a $10-$30 band before breaking out of it in 2004. This breakout Continue Reading
Commodity trading giant Trafigura expects a strong rebound in oil demand next year thanks to mass vaccinations, which will push crude oil prices to $55-60 a barrel, Argus Media reported, Continue Reading
The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak. The rise Continue Reading
The global oil industry needs some $12.6 trillion in investments through 2045, the secretary-general of OPEC said at a videoconference, adding these investments would be essential for the industry to Continue Reading
Oil prices may be ticking upward, but oil demand still isn’t getting any relief from jet fuel demand, according to the Energy Information Administration’s This Week in Petroleum report published Continue Reading
