Oil slides 3% as China lockdowns stoke demand fears
Oil prices tumbled more than 3% on Thursday, as new COVID-19 lockdown measures in China added to worries that high inflation and interest rate hikes are denting fuel demand. Brent Continue Reading
Oil Prices Climb On Expectations Of An OPEC+ Production Cut
Oil prices climbed early on Friday morning as expectations of an OPEC+ production cut grew. OPEC is already producing less than it was supposed to, but the group has been Continue Reading
Oil’s Rough Week Ends With Rebound on OPEC+ Risk, Iran Setback
Oil rose on Friday — paring a hefty weekly decline — before an OPEC+ meeting on supply at which Saudi Arabia could push for output cuts, and as efforts to Continue Reading
Oil Posts Longest Monthly Slump Since 2020 Amid Growth Concerns
Oil headed for a third straight monthly drop Su Keenan reports. Oil registered its third straight monthly decline, its longest losing run in more than two years, on concern that Continue Reading
This decade’s oil boom is moving offshore – way offshore
Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects including some in the remote iceberg waters far off Continue Reading
World Food Prices Extend Drop as Supply Uptick Offers Relief
Wheat harvests in the northern hemisphere are helping ease supply constraints. Photographer: Liesa Johannssen-Koppitz/Bloomberg Global food prices fell for a fifth month after demand for some products weakened and there Continue Reading
Iran seeks stronger U.S. guarantees for revival of 2015 nuclear deal
Iran needs stronger guarantees from Washington for the revival of a 2015 nuclear deal, its foreign minister said in Moscow on Wednesday, adding that the U.N. atomic watchdog should drop Continue Reading
OPEC+ Expected To Keep October Output Quota Flat
OPEC+ is expected to keep its October crude oil production target stable from the September quota when the group meets on September 5 to review oil market conditions, a majority Continue Reading
Iran Nuclear Deal “Moving Backward” After Tehran’s Negative Response
Just hours after Iran said on Thursday evening that it had sent a “constructive” response to the final draft of the nuclear deal to the Biden administration, the White House Continue Reading
95% Of Production At Nigeria’s Main Oil Hub Is Being Stolen
Oil and oil product theft has become an existential threat to Nigeria. NNPC Group CEO Kyari: 95% of crude oil output at Bonny hub is lost to theft. Stolen crude Continue Reading