Oil Prices Edge Upward Despite OPEC Revision
Oil inched up as the market weighed the risks of toughening restrictions in New York and London ahead of a widely available vaccine. Futures closed at a fresh nine-month high Continue Reading
OPEC President Says Group Cannot Rush Increases
The president of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across Continue Reading
IEA Sees Crude Glut Enduring
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Continue Reading
Big Oil Slammed With A $7 Trillion Reality Check
About a year ago, the world’s largest asset manager BlackRock Inc. (NYSE:BLK) declared its intention to increase its ESG (Environmental, Social and Governance) investments more than tenfold from $90 billion Continue Reading
Is It Time For A Correction In Oil Markets?
Crude oil prices rose to the highest since early spring after the FDA yesterday gave the green light to the Pfizer-BioNTech Covid-19 vaccine, with government officials saying several hundred vaccination Continue Reading
Goldman Turns Bullish On Oil: Sees $65 Brent In 2021
Structural underinvestment in oil and gas will put upward pressure on oil prices, Goldman Sachs’ commodities chief Jeffrey Currie told CNBC this week, commenting on commodity markets. All markets except Continue Reading
Will Oil Continue To Rally In 2021?
Oil prices have finally hit $50 last week, a projection that we made back in June this year. Bullish sentiment prevailed in the oil markets over the past week despite Continue Reading
IEA Sees Crude Glut Enduring to End-2021 Amid Demand Strains
The crude-oil glut left behind by the pandemic will clear by the end of next year, as markets face a gradual recovery marked by renewed strains on demand, the International Continue Reading
IEA: Jet Fuel Will Continue Be A Drag On Oil Demand Recovery
Continued low demand for jet fuel will account for 80 percent of next year’s 3.1-million-bpd gap in oil demand compared to pre-pandemic levels, the International Energy Agency (IEA) said on Continue Reading
Iran’s Supreme Leader holds first function since health rumours – state media
Iran’s Supreme Leader Ayatollah Ali Khamenei held his first public function on Wednesday since rumours surfaced of his deteriorating health, Iranian state media reported. Khamenei met organisers of events to Continue Reading