Oil rises on U.S. inventory drop, Russian gas cuts
Oil rose by $1 a barrel on Wednesday as a report of lower inventories in the United States and cuts in Russian gas flows to Europe offset concern about weaker Continue Reading
Crude oil futures stable to lower as recession fears resurface
Crude oil futures were stable to slightly lower in mid-morning Asian trade July 27 as recession fears returned to the fore after fresh US data overnight showed weakening consumer confidence Continue Reading
Oil Climbs as US Crude Stockpiles Shrink Ahead of Fed Decision
Oil rose as industry data signaled a big drop in US crude inventories ahead of an expected interest-rate hike by the Federal Reserve. West Texas Intermediate futures edged up near Continue Reading
High Oil Prices Spark A New Wave Of Exploration
Oil companies are reaping the benefits of high energy prices. Indebted American oil and gas companies, armed with improved balance sheets, are finally drilling again. Oilfield services companies are among Continue Reading
Rocket strike causes fire at Khor Mor gas field
Rockets hit the Khor Mor gas field Monday night for the fourth time in two months, highlighting a major, unresolved threat against a strategically important project that provides the vast Continue Reading
Is This The Most Succesful Western Oil Major In The Middle East?
French oil major TotalEnergies has successfully closed a number of high-profile deals in Qatar, Iraq and the UAE. TotalEnergies is seen by some senior members of the EU as sometimes Continue Reading
Saudis to Hike Oil Price to Record Even as Traders See Risks
OPEC+ kingpin Saudi Arabia is expected to price its flagship crude to Asia at a record differential for September even as traders see the scope for a weaker spot market Continue Reading
Iraq’s oil output surges in June as southern fields ramp up
Iraq’s oil production moved sharply higher in June, with a monthly increase of 153,000 barrels per day (bpd) taking output to 4.62 million bpd, the highest since February 2020, according Continue Reading
Iran’s Oil Revenues Soar By 580% As Crude Prices Rally
Iran has seen its oil and condensate revenues rise by 580% between March 21 and July 21. Despite rising oil income, Iran’s inflation rate rose to 40% year-on-year. In recent Continue Reading
Libya Raises Oil Production To 1.1 Million Bpd
Libya ramps up production to 1.1 million bpd following the resumption of exports. NOC looks to reach ‘normal’ rates of 1.2 million bpd within the next two weeks. The recent Continue Reading