Having recently turned even more bullish on the oil market, bringing forward up its year-end $65 Brent price target to the summer on Monday, overnight Goldman’s commodity team turned even Continue Reading
The pandemic and the pace of economic and oil demand recovery from the coronavirus-inflicted crisis are posing a major challenge to oil producers in rebalancing the market, according to Tim Continue Reading
It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few years. Yet, Continue Reading
The U.S. Energy Information Administration has raised its Brent spot average and West Texas Intermediate spot average prices for 2021. The U.S. Energy Information Administration (EIA) has raised its Brent Continue Reading
Countries dependent on oil revenues for much of their budgets will become increasingly vulnerable to problems caused by the global energy transition, the head of the International Energy Agency, Fatih Continue Reading
Global oil demand is expected to grow by 5.6 million barrels per day (bpd) in 2021 compared to the 2020 low of 92.2 million bpd, the U.S. Energy Information Administration Continue Reading
Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. (Bloomberg) — Saudi Aramco is Continue Reading
After a record-setting 2019, annual oil output fell by about 760,000 bpd as Iraq made extraordinary cuts to help support global prices. The Iraqi Drilling Company completes drilling at the Continue Reading
Market tightness is the new byword on the global crude markets, though this given bout of supply scarcity (luckily) bears all the traits of a forethought and premeditated one. Saudi Continue Reading
Iran has taken a significant new step toward possible atomic-weapons production, starting work on an assembly line to manufacture a key material used at the core of nuclear warheads, the Continue Reading
