Oil Prices Slide Again
Oil slid by the most in three weeks as a stronger dollar and weak U.S. economic data stoked concerns over an economic rebound. Futures in New York tumbled 2.3% on Continue Reading
Charting the Global Economy: Economic Pain Lingering Into 2021
The economic distress of the Covid-19 pandemic is picking up where it left off at the end of 2020. The latest high-frequency data show activity in the advanced economies softened in Continue Reading
OPEC Oil Revenues Could Slump To 18-Year Low
OPEC’s crude oil export revenues for 2020 could decline to $323 billion, the U.S. Energy Information Administration said in a new report, noting that this would be the lowest revenue Continue Reading
OPEC Update, January 15, 2020
OPEC Monthly Oil Market Report for December 2020 was published this week. The last month reported in each of the charts that follow is December 2020 and the output reported Continue Reading
Nigeria’s Forcados crude exports on force majeure due to pipeline closure: Shell
Loadings of Nigeria’s key export grade Forcados are on force majeure due to the shutdown of the Trans Forcados pipeline, terminal operator Shell said late Jan. 14. The force majeure Continue Reading
Venezuela Opens Up To Foreign Oil Investment
Venezuela is opening up to foreign investment in its oil industry, President Nicolas Maduro said this week, in a bid to reverse a catastrophic drop in its output under the Continue Reading
Citgo still in limbo as judge approves sale of Venezuelan holding company’s shares
The fate of US refiner Citgo Petroleum remains in limbo following a federal court ruling late Jan. 14 that reaffirms the eventual auction of shares of Citgo’s Venezuelan holding company. Continue Reading
U.K. Covid-19 Strain Likely to Become Dominant in U.S. in March, CDC Says
A highly transmissible coronavirus variant that was first identified in the U.K. is spreading rapidly in the U.S. and likely to become the dominant strain circulating domestically in March unless steps Continue Reading
Oil giant Total withdraws from US energy lobbying group
French oil and gas company Total said it has decided to withdraw from energy association American Petroleum Institute because it disagrees on climate-related policies. Total said in a statement Friday Continue Reading
OPEC Predicts A Rebound In U.S. Shale
Oil prices fell back on Friday morning as demand fears grow, but OPEC has predicted an increase in U.S. shale production at current price levels. With 2021 shaping up to Continue Reading