Shell to boost shareholder returns after oil price rise
Shell to boost returns to 20%-30% of free cashflow Company to “retire” $65 bln net debt target Spending to stay below $22 billion in 2021 as planned Second quarter LNG Continue Reading
Leaked EU Plan to Green Its Timber Industry Sparks Firestorm
A European Union strategy to boost forest protection has turned a simmering scientific debate into a full-blown firestorm, pitting one of the bloc’s oldest industries against a perceived power grab Continue Reading
Delta variant drives Spain’s Covid-19 rate to highest in mainland Europe
The Delta variant of Covid-19 and a surge in infections among younger, unvaccinated people have catapulted Spain’s coronavirus rate to the highest in mainland Europe, according to Financial Times research. Continue Reading
Crude oil futures rise on fears of tightening supply after OPEC+ cancels meeting
Crude oil futures extended overnight gains during mid-morning trade in Asia July 6 on fears that oil demand will soon outstrip supply after the OPEC+ coalition, consisting of OPEC members Continue Reading
Oil prices extend gains after OPEC+ talks called off
Oil prices extended gains to hit some of their highest levels since 2018 after OPEC+ discussions were called off, heightening expectations that supplies will tighten further just as global fuel Continue Reading
Analyst Says Market Too Optimistic About Demand
Oil market participants may have focused too much on the surging U.S. fuel demand with states re-opening, possibly ignoring the still lurking COVID threats to demand elsewhere, energy analyst Vandana Continue Reading
Oil hits three-year high after Opec+ abandons meeting
Oil prices jumped to the highest level in three years after Opec and its allies abandoned a decision over increasing oil production, as Saudi Arabia, Russia, and the UAE struggled Continue Reading
Oil Markets Will Tighten Regardless Of OPEC’s Decision
The oil market is tightening and will continue to draw down inventories for the rest of the year. This drawdown is largely due to OPEC+ offering less supply than the Continue Reading
Analysis: OPEC disagreement lays bare growing UAE-Saudi economic rivalry
Rare public disagreement between the United Arab Emirates and Saudi Arabia over OPEC policy points to a growing economic rivalry between the two largest Arab economies which only looks set Continue Reading
Oil and Dollars: Why the UAE Is Risking a Falling-Out With OPEC+
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic. The United Arab Emirates, the group’s fourth-biggest producer, argued against Continue Reading