OPEC+ Panel to Update Oil Demand Estimate
A panel of OPEC+ technical experts agreed to revise down oil-demand estimates for 2021. (Bloomberg) — A panel of OPEC+ technical experts agreed to revise down oil-demand estimates for 2021 Continue Reading
OPEC+ Panel to Lower Oil-Demand Estimate on Saudi Suggestion
A panel of OPEC+ technical experts agreed to revise down oil-demand estimates for 2021 after Saudi Arabia suggested that the figure looked too high, delegates said. The move, which was Continue Reading
Suez Canal traffic on the move, more port congestions likely
Southbound and northbound traffic on the Suez Canal has recommenced a day after the stricken Ever Given container ship was freed, market sources said March 30. Not registered? Receive daily Continue Reading
Suez Canal Traffic Resumes Slowly as Some Ships Weigh Anchor, Others Wait
Ships were again moving slowly through the Suez Canal on Tuesday, hours after engineers freed the Ever Given and cleared the waterway for global traffic. Shipowners, exporters and importers are now racing Continue Reading
Saudi Arabia Ready To Extend Huge Oil Cuts Into June
Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed Continue Reading
Saudi Prince Calls On Private Sector To Bolster $7 Trillion Plan
Saudi Arabia’s Crown Prince Mohammed bin Salman Saudi Arabia’s crown prince laid out a 27 trillion riyal ($7.2 trillion) domestic spending and investment plan that relies heavily on commitments from Continue Reading
India Unlikely To Commit To Net-Zero Emissions Target
Despite growing international pressure, India is unlikely to commit to carbon neutrality by 2050, government officials have told Reuters . Expecting strong energy demand growth in the coming decades and Continue Reading
Venezuelan oil sanctions crossroads could come amid summer dearth of diesel
US oil sanctions on Venezuela could reach a tipping point this summer if a dire diesel shortage further exacerbates a humanitarian crisis that continues to unfold even as President Nicolás Continue Reading
Forest Destruction Surged in 2020 Even as Global Economy Slowed
A deforested area in Mato Grosso State in Brazil in August 2020. Destruction of the world’s forests increased last year even as pandemic shutdowns curbed economic growth, adding more pressure Continue Reading
Brazil’s Military Chiefs Quit as Covid-19 Pandemic Pressures Government
The heads of Brazil’s army, navy and air force resigned Tuesday, rocking a right-wing government that is already facing public fury over President Jair Bolsonaro’s inability to contain the fast-spreading coronavirus pandemic. Brazil’s Defense Continue Reading