Oil Jumps Near $90 After OPEC+ Surprises With Token Supply Cut
Oil surged at the start of the week as OPEC+ unexpectedly decided to cut output in October. West Texas Intermediate crude advanced as much as 4.1% to beyond $90 a Continue Reading
Recession Playbook May Not Work on Oil This Time
The recession ‘playbook’ may not work on the oil sector this time. The recession “playbook” may not work on the oil sector this time, a new BofA Global Research report Continue Reading
OPEC+ gives Saudi chairman power to intervene to address market developments
OPEC+ members have trusted their chairman, Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud, to intervene whenever necessary to stabilize crude markets through calling for a meeting at any time Continue Reading
OPEC+ Cuts Production Despite Resistance From Russia
OPEC+ meeting ends with small production cut decision. Russia was said to have resisted a production cut ahead of the meeting. OPEC+ decided that it could call a meeting at Continue Reading
OPEC+ cuts oil production quotas by 100,000 b/d despite tight market
Wary of a global economic slowdown, OPEC and its allies will trim their production quotas by 100,000 b/d in October, despite what appears to be a tight physical market, as Continue Reading
Is Iraq An Underappreciated Risk In Oil Markets?
Rising political turmoil in Iraq could soon threaten the country’s oil production, with some analysts suggesting that up to a million barrels per day could be taken offline. As well Continue Reading
Renewed Clashes In Tripoli Threaten Libyan Oil Production
Renewed clashes broke out over the weekend in oil-rich Libya’s capital as militia forces aligned with the Government of National Unity (GNU) moved to ensure continued control after a failed Continue Reading
Russia To Help Iran In Developing Crucial Gas Reserves
After years of planning, Iran is moving to increase production at Phase 11 of South Pars. The first phase involves the drilling of 30 wells plus the fabrication and erection Continue Reading
Nigeria’s Massive Oil Theft Scandal and Lack of Enlightened Self-Interest
Oil theft We call on the Buhari administration to create as much of a legacy as is still possible, in the next couple of decisive months in which it remains Continue Reading
India gives coal-fired plants extra two years to install emissions equipment
India extended a deadline for coal-fired power plants to install equipment to cut sulphur emissions by two years, the government said in a notification on Tuesday, marking the third push Continue Reading