Oil Futures Contend with Stronger Greenback
Oil closed little changed with a stronger U.S. dollar and broader market selloff sapping momentum from a recent rally. Futures in New York ended the session up 1 cent at Continue Reading
Why The Last Leg Of The Oil Demand Recovery Is The Hardest
Over the past six months, excess U.S. crude oil and product inventories have declined from their surplus at the start of the summer of 2020. Petroleum inventories have been slowly Continue Reading
US Marks Houthi Rebels As Terrorists After Attacks On Oil Assets In Middle East
The United States is designating the Iran-aligned Houthi rebels in Yemen as a foreign terrorist organization, U.S. Secretary of State Mike Pompeo said on Sunday, after the Houthis are believed Continue Reading
UN: COVID-19 herd immunity unlikely in 2021 despite vaccines
The World Health Organization’s chief scientist warned that even as numerous countries start rolling out vaccination programs to stop COVID-19, herd immunity is highly unlikely this year. At a media Continue Reading
Saudi Arabia Aims to Raise Over $5 Billion in Bond-Market Return
Saudi Arabia is preparing to return to global capital markets with a bond sale aimed at raising about $5 billion to help cover financing needs heightened by last year’s slide Continue Reading
U.S. Sanctions Halve Iran’s Oil Revenues
Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported , citing an Instagram post of the governor of Continue Reading
Iran: Foreign Oil Firms Must Accept New Terms To Work In Country
Foreign energy firms and contractors have to accept Iran’s new terms and conditions if they return to work in the country, Iran’s Oil Minister Bijan Zanganeh said on Monday. “If Continue Reading
Saudi Crown Prince Announces Zero Carbon Smart City
A zero-carbon city will be built on the site of the Neom smart city project, Crown Prince Mohammed bin Salman said on Sunday, as quoted by Reuters. The city, dubbed Continue Reading
Iran signs 8 more oil projects as part of plan to boost output by 355,000 b/d
Ehe National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by Continue Reading
Libyan surge, slipping compliance push OPEC+ output up sharply in Dec: Platts survey
OPEC and its allies raised their crude oil production by 280,000 b/d in December to a seven-month high, as Libya pumped its most since mid-2013 and several other countries posted Continue Reading