Oil prices inched lower on Wednesday on concerns of another U.S. Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust Continue Reading
Oil fluctuated as traders assessed a mass of conflicting signals, from speculation that the Federal Reserve will be forced to tighten policy much more aggressively as inflation flares to shifting Continue Reading
Growth in global oil demand is set to grind to a halt in the fourth quarter of this year as an economic slowdown deepens, the International Energy Agency (IEA) said Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 6.035 million barrels, while analysts predicted a draw of 200,000 barrels. The build comes as the Continue Reading
The ongoing La Nina climate phenomenon may extend into its third year in a rare event to become what is called a triple-dip La Nina. This is likely to extend Continue Reading
Nigeria has continued to waste the rare opportunity presented by the global rise in oil prices to grow its economy like other oil-producing countries, London-based The Economist has stated. While Continue Reading
South Africa’s state-owned power utility has implemented power cuts on 100 days in 2022, with more to come. Eskom Holdings SOC Ltd. ramped up outages to so-called stage-4 load shedding, Continue Reading
India is fast catching up with China in its thermal coal imports, as the world’s two biggest overseas buyers of the power generation fuel adjust purchases to align them with Continue Reading
Scientists who detected a massive methane leak at an offshore platform run by Mexico’s Pemex said Tuesday there was “no way” they had made a mistake, roundly rebutting claims by Continue Reading
China faces its biggest annual drop in oil demand in more than three decades as Covid-19 lockdowns and a property crisis weigh on growth in the world’s No. 2 consumer, Continue Reading
