OPEC+ meeting June 1 to discuss current output policy Oil market will tighten without a faster easing of production cuts: Birol Oil prices approach three-month high despite potential deal with Continue Reading
Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but Continue Reading
$71 Oil Won’t Bring Demand Destruction, BofA’s Blanch Says OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as Continue Reading
The OPEC oil cartel and allied producing countries have confirmed plans to restore 2.1 million barrels per day of crude production, balancing fears that continuing COVID-19 outbreaks in some countries Continue Reading
Highlights ‘Jury still out’ on Iran nuclear deal talks: Saudi Prince ABS OPEC to meet again June 24, OPEC+ on July 1 IEA warns market may overheat without more OPEC+ Continue Reading
Libya generated total revenues from oil sales worth US$1.31 billion in April, the country’s National Oil Corporation (NOC) said on Tuesday in its regular update, which showed a 36-percent drop Continue Reading
Since the fall of Saddam Hussein in 2003, Iraq has played the main powers in the Middle East off against each other – the U.S. axis focused on Saudi Arabia Continue Reading
Highlights Cabinet calls on oil ministry to conduct ‘appropriate’ study Some politicians have called for changes in financial terms of contracts Oil majors operate some of Iraq’s biggest fields Iraq Continue Reading
Exxon is leaving a deepwater prospect in Ghana after seismic work failed to produce good enough results. Bloomberg reports that the supermajor relinquished its whole stake in the Deepwater Cape Continue Reading
Nigeria’s crude oil export revenues slumped by as much as 98 percent from March to April this year because of movements in the price of gasoline, the Nigerian National Petroleum Continue Reading
