Light Crude Closes Above $50 a Barrel
Oil pared gains late in the session as protests in Washington overtook the U.S. Capitol, overshadowing a draw in U.S. crude inventories and Saudi Arabia’s surprise pledge to unilaterally cut Continue Reading
Fitch Solutions Reveals Latest Oil Price Forecasts
Fitch Solutions Country Risk & Industry Research has revealed its latest Brent crude oil price projections in an outlook report published earlier this week. Fitch Solutions Country Risk & Industry Continue Reading
Goldman: Saudi Oil Strategists Fear Weak Demand In 2021
Saudi Arabia’s unexpected major oil production cut announced on Tuesday is likely a sign that the world’s largest oil exporter expects oil demand to weaken in coming weeks due to Continue Reading
Hedge Funds Haven’t Been This Bullish On Oil Since Pandemic Started
Money managers started 2021 with optimism that oil prices will benefit from a rise in economic activity as vaccines are being rolled out. Hedge funds and other portfolio managers held Continue Reading
The World’s First Major Hydrogen Hubs Are In The Making
A profuse literature on hydrogen is coming forth from companies, governments, and energy market analysts. All are seeking the most likely paths forward for what is anticipated to be a Continue Reading
OPEC Production Rose Last Month as Libya Continued Comeback
OPEC’s production rose for a third month in December as a continued cease-fire in crisis-torn Libya enabled it to restore more supplies. While the group’s dominant producer, Saudi Arabia, startled oil markets Continue Reading
Saudis Raise Asia and U.S. Oil Prices After Shock Output Cut
Saudi Arabia raised pricing for oil customers in Asia and the U.S. after its shock move this week to cut output sent crude prices climbing. A day after its unilateral Continue Reading
U.S. Imports No Saudi Crude Oil for First Time in 35 Years
The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American Continue Reading
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero
For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at Continue Reading
Iran: U.S. Owes Tehran $70B In Damages For Missed Oil Revenues
Iran claims that the U.S. should pay Tehran as much as US$70 billion as compensation for lost oil revenues due to the U.S. sanctions, as a prerequisite for a return Continue Reading