Brent hits $70, highest since March, on demand prospects
Oil prices rose on Tuesday, with Brent topping $70 and trading at its highest since March, as optimism grew over the fuel demand outlook during the summer driving season of Continue Reading
Oil Gains as OPEC+ Forecasts Crude Stockpiles Will Drop Sharply
Oil climbed for a second month as OPEC and its allies forecast that inventories will fall sharply this year if the group sticks to its plan. Futures rose 0.9% on Continue Reading
‘Insanely cheap energy’: how solar power continues to shock the world
In the year 2000, the International Energy Agency made a prediction that would come back to haunt it: by 2020, the world would have installed a grand total of 18 Continue Reading
A Resurgent World Economy Is Seen Leaving Many Behind
A strengthening world recovery from the Covid-19 pandemic risks leaving behind many regions, fueling inequalities across and within borders, the Organization for Economic Cooperation and Development said Monday. As the Continue Reading
OPEC+ likely to stick with current supply plan, sees orderly Iran return
OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, OPEC sources said, as producers balance expectations of a recovery Continue Reading
Oil Gains as OPEC+ Forecasts Crude Stockpiles Will Drop Sharply
Oil climbed for a second month as OPEC and its allies forecast that inventories will fall sharply this year if the group sticks to its plan. Futures rose 0.9% on Continue Reading
OPEC+ Sees Tight Oil Market as Ministers Set for Supply Talks
A year after shuttering unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get acutely tight. The coalition led by Saudi Arabia and Russia believes that Continue Reading
OPEC+ Still Sees Oil Demand Growing By 6 Million Bpd In 2021
The Joint Technical Committee (JTC) of the OPEC+ group maintained at a meeting on Monday its outlook for global oil demand growth at around 6 million barrels per day (bpd) Continue Reading
OPEC expects Iran’s output hike not to hinder group’s plans
OPEC+ to meet virtually June 1 No changes to production quotas on agenda so far Iran targets 6.5 mil b/d output once sanctions lifted OPEC expects the anticipated increase of Continue Reading
OPEC, Russia seen gaining more power with Shell Dutch ruling
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and Continue Reading