IEA sees global oil demand above pre-pandemic levels in 2023 at 101.6 mil b/d IEA predicts China-led oil demand growth of 2.2 mil b/d in 2023 versus 1.8 mil b/d Continue Reading
Fitch Ratings has increased its short- and medium-term oil price assumptions, reflecting the increasing number of buyers boycotting imports from Russia. American credit rating agency Fitch Ratings has increased its Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 736,000 barrels, while analysts predicted a draw of 1.2 million barrels. The small build comes as Continue Reading
As national average gasoline prices have surpassed the $5 per US gallon mark for the first time in history, the market is set for further tightness after ten consecutive weeks Continue Reading
OPEC on June 14 said it expects rising demand for its crude oil, forecasting robust global economic growth in the months ahead and projecting for the first time that Russia’s Continue Reading
Legal dispute beween the KRG and Baghdad could put all oil projects involving International Oil Companies at risk. A lack of legal clarity has been at the centre of this Continue Reading
A new blockade of Libyan oil facilities has greatly reduced production levels, hitting an already tight global market and adding to fears an internal political stalemate could spark new fighting. Continue Reading
The European Union is looking to Israel to help reduce its energy dependence on Russia following the Russian invasion of Ukraine, European Commission President Ursula von der Leyen said in Continue Reading
Libya’s oil output is 100,000-150,000 barrels per day (bpd), a spokesman for the oil ministry said on Tuesday, a fraction of normal levels due to the shutdown of production and Continue Reading
Still struggling with its oil production quota, the Organisation of Petroleum Exporting Countries (OPEC) yesterday revealed that Nigeria reported a paltry 1.024 million barrels per day production in May, a Continue Reading
