Oil Prices for Mar. 10, 2021: Brent Crude, WTI
Oil reversed an earlier decline, largely undulating with the swings in the dollar before data on U.S. oil stockpiles due later. Futures in New York edged lower on Wednesday, after Continue Reading
OPEC Is Costing Oil Tanker Owners Money
Times are getting tougher by the day for oil tanker owners. With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China route deepened to $6,779 Continue Reading
Oil Prices Decline Again
Oil pulled back from recent multi-year highs after technical indicators showed crude rallied too far too fast. (Bloomberg) — Oil pulled back from recent multi-year highs after technical indicators showed Continue Reading
Oil Prices Slide On Yet Another Surprise Inventory Build
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 12.792 million barrels for the week ending March 5. Analysts had predicted an inventory build Continue Reading
How Oil Could Go To $100 Per Barrel
In its February Short Term Energy Outlook (STEO), the EIA forecasts this month’s world oil consumption at 96.7 million barrels per day (mbpd). The oil supply, however, is much lower, Continue Reading
Oil slips below $68 as rally fizzles before U.S. supply report
Oil fell to around $68 a barrel on Tuesday in a choppy session, pressured as concerns faded of a supply disruption in Saudi Arabia, which countered a pause in the Continue Reading
Giant Oil Tankers Are Losing Almost $7,000 a Day Amid OPEC Cuts – Bloomberg
Times are getting tougher by the day for oil tanker owners. With too many vessels to haul fuel, losses for supertankers on a benchmark Middle East-to-China route deepened to $6,779 a Continue Reading
Bill Gates-Backed Israeli Startup Raises $22M To Scale Up Green Hydrogen
H2Pro, a startup founded in Israel in 2019, has raised US$22 million in a funding round from clean energy funds backed by Bill Gates, among others, in order to scale Continue Reading
Libya Looks To Boost Oil Production To 1.45 Million Bpd By End-2021
Libya plans to raise its oil production to 1.45 million barrels per day (bpd) by the end of this year, from 1.3 million bpd now, Mustafa Sanalla, the chairman of Continue Reading
Libya targeting 1.45 mil b/d oil output by end of 2021: Sanalla
Libya is looking to increase its crude oil production to 1.45 million b/d by the end of 2021, the chairman of state-owned National Oil Corporation said March 9. Not registered? Continue Reading