Oil Prices Snap Winning Streak
Oil capped its longest winning streak in two years following the International Energy Agency’s bleaker outlook for global demand and signs that futures were overbought. Prices in New York slid Continue Reading
Major energy institutions downgrade oil demand outlooks amid fragile rebalancing
Major energy institutions are adopting a cautionary tone over oil demand in 2021, with the International Energy Agency and OPEC on Feb. 11 joining the US Energy Information Administration in Continue Reading
How Bad Is Big Oil’s Earning Season?
The five integrated oil super majors closed their financial books for 2020 and their numbers looked dreadful. However it could have been worse. Their revenues fell an incredible 36%, from Continue Reading
Oil states face devastating revenue crunch from global climate policies, study says
Growing global momentum on decarbonization could leave countries that largely depend on oil and gas revenues facing a $9 trillion drop in expected income over the next 20 years, according Continue Reading
The Most Overlooked Energy Source On Earth
About a month ago, a report by clean energy watchdog Bloomberg New Energy Finance (BNEF) confirmed that the renewable energy sector has remained the most resilient to the ravages of Continue Reading
IEA: OPEC+ To Further Ease Cuts Amid Quickly Drawing Oil Stocks
While the oil market rebalancing looks fragile in the first quarter of 2021, global oil stocks are expected to rapidly draw down in the second half of this year as Continue Reading
OPEC revises up 2021 oil demand forecast with more growth seen in H2
OPEC raised its estimate of 2021 global oil demand from last month, saying growth especially for industrial fuels in the second half will be led by positive economic developments supported Continue Reading
OPEC Revises Down Global Oil Demand Forecast For 2021
OPEC expects oil demand to rise by 5.8 million barrels per day (bpd) this year, down by around 100,000 bpd from last month’s projection due to lockdowns in major developed Continue Reading
Saudi Aramco Looks To Lure Buyers To Pipeline Unit With $10B Loan
Saudi Aramco, the world’s biggest oil company, is discussing with banks the idea to offer the potential buyers of its pipeline business a staple financing package of up to US$10 Continue Reading
US Sells Seized Iranian Fuel As It Looks To Detain Another Oil Tanker
The United States has completed the sale of 1.116 million barrels of gasoline that Iran tried to ship to Venezuela last year, U.S. Department of Justice spokesman Marc Raimondi told Continue Reading