Improving supply and demand fundamentals have prompted Credit Suisse to raise its short and long-term forecasts for oil prices, expecting the average Brent price at $70 a barrel this year, Continue Reading
Highlights Refinery utilization seen higher, distillate stocks likely down Gasoline demand expected to continue to soften slightly Crude exports seen around 3.5 million b/d: Platts Analytics More bullish draws of Continue Reading
The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a Continue Reading
The recent OPEC+ meeting ended with an agreement that would gradually increase the cartel’s monthly production until in late 2022 all of the 9.7 mm BOPD that had originally been Continue Reading
OPEC could double its control over the oil market, to between 70% and 80%, according to Lukoil’s Vice President. OPEC will win its increased share by default, Leonid Fedun, Vice Continue Reading
Highlights Deal calls for monthly 400,000 b/d output increases Some members will struggle to produce at their quotas Saudi Arabia, UAE, Russia hold most spare capacity OPEC and its allies Continue Reading
Saudi Arabia’s crude oil exports rose in May to 5.649 million barrels per day (bpd), their highest level in four months, Joint Organisations Data Initiative (JODI) said on its website Continue Reading
The U.S. is considering tighter sanctions on Iranian oil sales to China as a way to encourage Tehran to conclude a nuclear deal and raise the costs of abandoning stalled Continue Reading
The United States is considering clamping down on Iran’s rising oil exports to China as a tool to either force Tehran to conclude a nuclear deal or punish it if Continue Reading
Sello Kgoale watched his neighbors shuttling back and forth with looted liquor, refrigerators and flat-screen televisions. There were no police at a nearby mall, they told him, so the 46-year-old Continue Reading
