Oil fell for a third day after data showed a rise in U.S. stockpiles and investors fretted over an uneven recovery in global demand, with India reporting a record one-day Continue Reading
Oil fell for a second day with an increase in USA crude inventories compounding concerns. (Bloomberg) — Oil fell for a second day with an increase in U.S. crude inventories Continue Reading
The accelerating adoption of electric vehicles (EVs) and electrification in other oil-consuming sectors is set to bring peak oil demand as early as 2026 at 101.6 million barrels per day Continue Reading
For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil Continue Reading
The short-term energy outlook has improved considerably over the past few months, thanks mainly to the ongoing Covid-19 vaccine rollout. A cross-section of analysts now expects oil demand to bounce Continue Reading
Energy security concerns are bubbling beneath the surface as the global oil market seems to be entering into the early stages of recovery from the pandemic. While OPEC+ can provide Continue Reading
President Joe Biden speaks in the Oval Office at the White House April 19, 2021 in Washington, D.C. Credit: Doug Mills-Pool/Getty Images For poor nations that contributed little to greenhouse Continue Reading
President Joe Biden’s climate summit of 40 world leaders this week will be Brazilian President Jair Bolsonaro’s “ last chance ” to restore Washington’s confidence in Brazil’s commitment to taking Continue Reading
The stress points keep piling up between President Biden and Vladimir Putin. Biden agreed that the Russian president is a “killer,” the United States leveled more sanctions, diplomats have been expelled on both Continue Reading
President Joe Biden is bringing together dozens of foreign leaders along with corporate executives, union heads and Pope Francis in a two-day virtual summit meant to invigorate the global fight Continue Reading
The U.S. has called out Australia’s lack of climate ambition ahead of President Joe Biden’s summit of global leaders. “Our colleagues in Australia recognize that there’s going to have to be Continue Reading
US President Joe Biden is set to announce the country’s steepest ever emissions cuts, as he hosts 40 world leaders on Thursday for a summit on climate change that will Continue Reading
Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the Continue Reading
The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months, Russia’s Deputy Prime Minister Alexander Continue Reading
Iran needs at least three months to flow back its crude in the global oil market as much as it was under the 2015 nuclear deal, former oil minister Rostam Continue Reading
Israel has dramatically expanded air strikes on suspected Iranian missile and weapons production centres in Syria to repel what it sees as a stealthy military encroachment by its regional arch-enemy, Continue Reading
One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis Continue Reading
The United States has provided Iran with examples of three categories of existing sanctions — those it would need to lift to return to compliance with the Iran nuclear deal, Continue Reading
Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current Continue Reading
Lower fiscal oil breakeven prices needed to balance Gulf budgets are expected to help support the easing of OPEC+ cuts as regional members of the alliance reap the benefits of Continue Reading
The sudden death of Chadian President Idriss Déby in a desert battlefield is threatening more headaches for its biggest private creditor: commodities trader Glencore Plc. Trading firms like Glencore have over the Continue Reading
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing international oil companies to reconsider their exorbitant Continue Reading
Mozambique has been rightly considered one of the most promising new frontiers of gas production in the world, the Rovuma Basin that is located along the border of Tanzania and Continue Reading
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Continue Reading
The tiny South American nation of Guyana is poised to become one of the leading offshore drilling jurisdictions in South America. Global energy supermajor Exxon, has established a dominant foothold Continue Reading
Every night funeral pyres blaze on the banks of the Ganges, a grim symbol of the ferocious Covid-19 wave sparking a health crisis and human tragedy in India that is Continue Reading
Amid record daily new COVID cases and reinstated lockdowns in populous cities, Indian refiners have started to cut oil processing rates as fuel demand in the world’s third-largest crude importer Continue Reading
China has slammed Australia’s decision to cancel agreements between the Belt and Road Initiative and the Victoria state government, signaling a worsening of ties between the nations. The Australian federal government Continue Reading
India recordedthe world’s highest daily tally of 314,835 COVID-19 infections on Thursday as a second wave of the pandemic raised new fears about the ability of crumbling health services to Continue Reading
U.S. State Department has added about 100 countries this week to its “Level Four: Do Not Travel” advisory list, putting the United Kingdom, Canada, France, Mexico, Germany and others on Continue Reading
The Biden administration is moving to end a legal battle with California over the state’s authority to regulate motor-vehicle emissions, setting the stage for stricter regulations on the auto industry, Continue Reading
Ford F 2.45% Motor Co. is planning more downtime at five North American factories due to a global semiconductor shortage, further disrupting output of a popular sport-utility vehicle and the F-150 pickup truck, Continue Reading
The Trump administration sidelined career staffers at the Environmental Protection Agency when weakening pollution rules for new passenger vehicles, according to a federal watchdog report. The EPA’s inspector general found top Continue Reading
“We’re sending carbon back where it came from,” Norway’s energy giant Equinor says , describing its efforts to make carbon capture and storage (CCS) commercially viable in a future decarbonized Continue Reading
The U.S. Interior Department is cancelling oil and gas lease sales from public lands through June amid an ongoing review of how the program contributes to climate change, officials said Continue Reading
Two of the world’s largest oilfield services providers, Baker Hughes and Halliburton, reported on Wednesday profits beating expectations and expressed optimism that oil demand and oil drilling activity will grow Continue Reading
Cash basis at Waha is trading near historic highs this month as production weakness in the Permian Basin and strong demand from neighboring markets tighten the supply balance in West Continue Reading
Billionaire Alejandro Bulgheroni’s dream of making fracking more environmentally friendly is running up against the reality of shale-patch economics. The Argentine oil tycoon has pumped about $250 million into developing Continue Reading
President Vladimir Putin warned the West on Wednesday not to cross Russia’s “red lines”, saying Moscow would respond swiftly and harshly to any provocations and those responsible would regret it. Continue Reading
Next week’s OPEC+ meeting will most likely focus on assessing the current oil environment rather than on revising production targets as the market looks balanced so far, according to Russia, a Continue Reading
German lawmakers on Wednesday approved a proposal by Chancellor Angela Merkel’s government to mandate uniform restrictions in areas where the coronavirus is spreading too quickly, among them closures and a Continue Reading
Power-generating windmill turbines are seen during sunset in Bourlon, France, February 23, 2021. REUTERS/Pascal Rossignol Europe experienced its hottest year on record last year, while the Arctic suffered a summer Continue Reading
The European Union clinched a deal in the early hours of Wednesday on a landmark climate change law that puts new, tougher greenhouse gas emissions targets at the heart of Continue Reading
Climate change whipsawed through Europe last year, alternately baking locked-up economies beneath record heat before inundating them with unprecedented floods, underscoring the rising levels of uncertainty faced by the continent’s 500 million Continue Reading
The American Petroleum Institute (API) on Tuesday reported a build in crude oil inventories of 436,000 barrels for the week ending April 16. Analysts had predicted a draw of 2.860 Continue Reading
Oil fell amid concern that a resurgent virus will hurt demand in some economies, while industry data showed a slight build in U.S. inventories. West Texas Intermediate retreated 1.1%, extending Tuesday’s Continue Reading
Oil slumped the most in two weeks alongside a broader market rout as a resurgent virus in some of the world’s top oil importers highlighted the uneven road to recovery. Continue Reading
The global oil demand recovery and a lot of spare capacity that OPEC+ has yet to bring back to the market suggest it is reasonable to expect that oil prices Continue Reading
What a difference a year makes! It might sound like a cliché, but the oil market that was turned on its head last April by a confluence of unexpected Black Continue Reading
Rystad Energy has revealed that its latest forecast projects a six percent year on year increase in oil demand in 2021. Rystad Energy has revealed that its latest forecast projects Continue Reading
