Light Crude Advances 7.5% for the Week
Oil rallied to the highest in nearly two years in New York after OPEC+ shocked markets with a decision to keep supply limited as the global economy starts to recover Continue Reading
Oil Soars Above $66 With Saudi Supply Gamble Buoying Crude Bulls
Oil rallied to the highest in nearly two years in New York after OPEC+ shocked markets with a decision to keep supply limited as the global economy starts to recover Continue Reading
Iran ready to resume nuclear talks if US lifts sanctions within a year
Iran would be ready to resume talks on the nuclear deal with the US and other western powers if they provide a “clear signal” that sanctions will be lifted within Continue Reading
Surprise OPEC+ Cuts Rollover Depresses Already Weak Oil Tanker Market
Oil tanker owners and shipbrokers are set to suffer longer than expected from the massive OPEC+ production cuts after the coalition surprised the oil and tanker markets on Thursday by Continue Reading
India: OPEC+ Decision Could Derail Oil Demand Recovery
The world’s third-largest oil importer, India, is concerned that Thursday’s OPEC+ decision not to lift oil production in April could hurt the consumption-led recovery in oil demand, Indian Petroleum Minister Continue Reading
Libyan freight premiums subside amid consistent output
Freight premiums for Aframax and Suezmax tankers loading from Libya have subsided as the North African producer has once again emerged as the main export hub in the Mediterranean crude Continue Reading
Electricity Minister Majid Mahdi Hantoush
There are many ways the Iraqi government could deliver 24 hours of electricity service per day – but none without a financial or political cost. In a wide-ranging interview with Continue Reading
SK Group to invest $16.4B to create hydrogen production-distribution-consumption ecosystem by 2025
Korea-based SK Group will invest about 18 trillion won (US$16.4 billion) over the next five years to create a domestic hydrogen ecosystem—production, distribution, and consumption—through creation of domestic hydrogen infrastructure Continue Reading
Fuel Demand Fizzles in Key USA Export Markets
The havoc that the pandemic is wreaking in Brazil and Mexico is cooling demand for gasoline and diesel in two top markets for U.S. oil refiners. Gasoline consumption in Mexico, Continue Reading
US Jobs Report Feb. 2021: 379,000 Added, More Than Expected
U.S. employers added more jobs than forecast in February and the unemployment rate declined, suggesting the labor market is clawing its way forward again following several disappointing months. Payrolls increased 379,000 Continue Reading