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
India’s excess deaths during the pandemic could be a staggering 10 times the official COVID-19 toll, likely making it modern India’s worst human tragedy, according to the most comprehensive research Continue Reading
The Arab Spring , which was a series of pro-democracy anti-government uprisings over a decade ago that swept across several largely Islamic states, triggered a substantial regional conflict that ultimately Continue Reading
More than half of Australia’s 25 million population is under lockdown after a third state-imposed movement restriction on Tuesday to contain the spread of the highly contagious COVID-19 Delta variant. Continue Reading
Figures released last week show that China’s crude oil imports in the first half of 2021 declined for the first time in eight years. China has been the world’s largest Continue Reading
Few other governments are able to enforce such mass relocations as climate change is stressing communities with drought, extreme weather, higher temperatures, and desertification. Bloomberg News Children play near the Continue Reading
Exxon Mobil Corp’s (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major’s management committee, as energy firms search to diversify Continue Reading
Erratic winds and parched Oregon forests added to the dangers for firefighters on Monday as they battled the largest wildfire in the U.S., one of dozens burning across several Western Continue Reading
The Indiana Department of Transportation (INDOT) has begun the first phase of a project to transform a segment of the state’s highway into wireless charging pavement for electric vehicles, according Continue Reading
The Indiana Department of Transportation and Purdue University early in July announced plans to develop the first contactless wireless-charging concrete pavement highway segment. The project will use innovative magnetizable concrete Continue Reading
There’s a debate about how companies should be recognized for buying carbon offsets based on avoiding emissions. Better to call them “carbon responsible” instead. A section of forest in part Continue Reading
Chief executives at US shale companies are continuing to receive bumper pay packets despite years of dismal returns, according to a new report. While most US oil bosses had their Continue Reading
Highlights Eastern Gas South trades above $3 in mid-July Production, drilling down from previous highs Producers largely holding to 2021 capex budgets As natural gas prices in Appalachia push the Continue Reading
Highlights NYMEX August RBOB drops 14.32 cents/gal to $2.1104/gal on OPEC news Gasoline trading activity slows on NYMEX RBOB volatility US gasoline outright prices dipped to seasonal lows July 19 Continue Reading
The U.S. energy sector lost 10% of its workforce last year due to the effects of the coronavirus pandemic, according to a report unveiled on Monday by U.S. government officials, Continue Reading
The United States and Germany are expected to announce a deal resolving their longstanding dispute over Russia’s $11 billion Nord Stream 2 natural gas pipeline in coming days, sources familiar Continue Reading
Reducing carbon emissions seems to be on the top of everybody’s agenda at the moment. A recent post in The New York Times reports on proposals being discussed in the Continue Reading
The catastrophic floods that swept northwest Europe last week were a stark warning that stronger dams, dykes, and drainage systems are as urgent as long-term climate change prevention, as once-rare Continue Reading
Britain’s government plans to create a new energy system operator to help the country meet its net zero emissions target, which could remove responsibilities now held by National Grid (NG.L) Continue Reading
Crude oil futures declined during the mid-morning trade in Asia July 19, as the market participants were concerned over a rise in supply following an OPEC+ deal to an impending Continue Reading
OPEC and its allies agreed to boost output. Bloomberg Intelligence commodity strategist Mike McGlone discusses what the deal means for oil prices. Oil declined after OPEC+ agreed to boost production Continue Reading
Oil prices recouped some losses on Monday, but were still down after OPEC+ overcame internal divisions and agreed to boost output, which sparked concerns about a crude surplus as COVID-19 Continue Reading
U.S. investment bank Goldman Sachs said the OPEC+ deal to boost oil supply supports its view on oil prices and expects modest “upside” to its summer forecast for Brent to Continue Reading
No one disputes that the world is unfair. But no one expected a vaccine gap between the global rich and poor that was this bad, this far into the pandemic. Continue Reading
The world needs the OPEC+ group to open the taps further to balance the oil market in the coming months, on that everyone agrees. But there’s less unanimity on just Continue Reading
OPEC and its Russia-led oil-producing allies agreed to unleash millions of barrels of bottled-up crude over the next two years, committing to restore all the cuts they made at the start Continue Reading
OPEC+ has overcome an internal dispute and salvaged a deal to add more barrels to the market, with the group set to boost output by 400,000 barrels a day each Continue Reading
The OPEC Monthly Oil Market Report for July 2021 was published this past week. The last month reported in each of the charts that follow is June 2021 and output Continue Reading
Sovereign rating downgraded to A+ Kuwait’s economy will likely grow 0.5% in 2021 Oil makes up 90% of government revenue Kuwait’s oil sector is expected to contract in 2021 due Continue Reading
Would be Iran’s 2nd main oil terminal Rouhani wants it running by Aug. 3 Loading capacity is 350,000 b/d Iran is set to start loading crude oil at the Jask Continue Reading
Brazil’s national power grid operator (ONS) has asked electricity generators to postpone maintenance and technical work for as long as possible to help avoid worsening the energy crisis stemming from Continue Reading
The spread of the highly-contagious Delta variant continued to weigh on risk assets Monday with Asian markets in the crosshairs as the region struggles with worsening outbreaks amid a slow Continue Reading
The largest wildfire in the U.S. torched more dry forest landscape in Oregon on Sunday, one of dozens of major blazes burning across the West as critically dangerous fire weather Continue Reading
The $3.5 trillion budget plan from congressional Democrats would finance a far-reaching transition to cleaner power, but it is expected to face opposition from parts of the energy industry and Continue Reading
Two years ago, Wall Street banks were on their way out of a long-term relationship with the oil industry. Now, with oil prices over $70 for the first time in Continue Reading
With billions of dollars being invested into ESG funds last year, 2020 has been called a “tipping point” year for this mega-trend in global markets. And many are predicting that Continue Reading
MOSCOW, July 18 (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Sunday that Russia will raise its oil output in the second half of the year thanks to Continue Reading
Equinor (EQNR.OL) said on Monday it submitted a bid for offshore floating wind power project in Scotland’s leasing round as the Norwegian energy firm continues to develop its North Sea Continue Reading
US oil and gas exporters have been warned that they face a further tightening of European anti-pollution rules despite energy’s exclusion from a swath of climate proposals introduced in Brussels Continue Reading
In an open-access study published in the journal Sustainable Cities and Society , Francesco Orsi, of the Landscape Architecture and Spatial Planning Group, Wageningen University & Research, the Netherlands, suggests Continue Reading
Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet Continue Reading
