Even before Covid-19, the World Bank had lowered its projections for global growth in the 10 years that began in 2020. The pandemic is exacerbating that trend, raising the prospect Continue Reading
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 1.663 million barrels for the week ending January 1. Analysts had predicted an inventory draw Continue Reading
Despite growing vaccine access, January is looking grim around the globe as the coronavirus resurges and reshapes itself from Britain to Japan to California, filling hospitals and threatening livelihoods anew Continue Reading
Here’s the question for oil industry investors. Can oil companies scale up clean energy enterprises to replace business lost from a decline in fossil fuel revenues? Some of the oil Continue Reading
Like the start of every year in recent history, the planet is getting warmer, climate disasters continue to strike, and emissions aren’t falling fast enough. Unlike other years, however, some positive developments in Continue Reading
A dramatic spike in temperatures is occurring at high altitudes above the North Pole, where the air is thin and typically frigid. Known as a sudden stratospheric warming event, experts Continue Reading
Saudi Arabia has delivered what Russian Deputy Prime Minister Alexander Novak called “a New Year’s gift” to the oil market with its surprise announcement of an extra 1 million b/d Continue Reading
Saudi Arabia surprised the market with a large cut in crude production, an assertion of primacy over the global oil industry that came directly from the kingdom’s de-facto ruler. The move Continue Reading
OPEC+ was nearing a consensus that would hold its oil output steady next month, after the group rejected Russia’s proposal for a production increase. Negotiations were ongoing and not all Continue Reading
Saudi Arabia will make additional, voluntary oil output cuts of one million barrels per day (bpd) in February and March as part of a deal under which most OPEC+ producers Continue Reading
