Oil Prices Get Boost from Inflation Data
Oil rose to the highest settle in over two years, drawing support from higher-than-forecast U.S. inflation data and a strong demand outlook. Futures in New York rebounded from a plunge Continue Reading
Oil falls as start of U.S. summer driving season fails to lift fuel demand
Oil prices fell on Thursday as inventory data in the United States, the world’s top oil consumer, showed a surge in gasoline stocks that indicated weaker-than-expected fuel demand at the Continue Reading
Oil rally has more room to run, Brent expected to hit $80/bbl – Goldman
U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global Continue Reading
Covid-19 Deaths This Year Have Already Eclipsed 2020’s Toll
More people have died from Covid-19 already this year than in all of 2020, according to official counts, highlighting how the global pandemic is far from over even as vaccines beat Continue Reading
Peak Internal Combustion Engine May Already Be Years Behind Us
The world hit a transport milestone in 2017, though most people wouldn’t have noticed it at the time. That year, consumers bought more than 85 million automobiles, a sales volume that Continue Reading
Despite uncertainties, OPEC sticks to forecast of oil demand surge in second half
OPEC stuck to its prediction of a strong world oil demand recovery in 2021 led by the United States and China despite uncertainties stemming from the pandemic, pointing to a Continue Reading
U.S. Lifts Sanctions on More Than Dozen Former Iranian Officials, Energy Firms
The Biden administration lifted sanctions on three former Iranian officials and several energy companies amid stalled nuclear negotiations, signaling Washington’s willingness to further ease economic pressure on Iran if the Continue Reading
OPEC Sees Strong Oil Demand Recovery This Autumn
Global oil demand will rise by 6 million barrels per day (bpd) this year from the lows of 2020, led by strong consumption in China and the United States, especially Continue Reading
OPEC Raised Oil Production By 400,000 Bpd In May
OPEC’s crude oil production rose by 390,000 barrels per day (bpd) to 25.46 million bpd in May 2021, the cartel said on Thursday as it started last month the gradual Continue Reading
Oil sanctions relief expected to take months after US, Iran reach deal: analysts
Sequencing of JCPOA compliance remains complicated Platts Analytics sees US sanctions relief by September Iran oil output expected to return to capacity next year While oil traders appeared ready June Continue Reading