Brent, WTI jump over $1/barrel to highest since October 2014 Middle East tensions add to concerns of short supply Goldman sees crude oil inventories falling to lowest since 2000 LONDON, Continue Reading
Brent oil surged to the highest level in seven years as physical markets run hot in the world’s largest consuming region and Goldman Sachs Group Inc. said prices are headed Continue Reading
Crude oil futures were higher in mid-morning trade in Asia Jan. 18, as investors remained upbeat on the outlook for oil, while geopolitical tensions in the Ukraine and Middle East Continue Reading
Brent highest since 2014 as all indicators appear to point bullish. Oil prices edged higher on Monday, with Brent trading near its highest level since 2014 as the market tightened Continue Reading
Several investment banks believe that demand will outstrip supply in early 2022 Just a handful of OPEC members are capable of meeting higher production quotas IHS’ Daniel Yergin: it’s almost Continue Reading
Highlights Sources warn that an LNA-led oil blockade could be imminent Delayed payments from GNU to eastern PFG raise stakes Libyan production back to near 1.2 million b/d after almost Continue Reading
An airstrike killed about 14 people in a building in the Yemeni capital of Sanaa, residents said on Tuesday, during strikes across the city launched by the Saudi-led coalition fighting Continue Reading
Oil rigs Nigeria is producing far less oil than it did 25 years ago when the estimated population was much less than what it is today and government spending was Continue Reading
In spite of its current struggles, Nigeria’s oil production will hit 1.7 million barrels per day in 2022, a new report by CardinalStone Research, has indicated. Stressing that it expects Continue Reading
The physical crude market in Asia is showing further signs of strength, bolstering the outlook for higher futures prices just as global oil benchmark Brent rallies to the highest level Continue Reading
Bloomberg News China is better prepared to avoid any energy supply crisis even with power demand forecast to continue to grow rapidly, authorities said. A 10% lift in demand last Continue Reading
China’s overseas shipments of fuels fell for a second year as Beijing tightened export quotas, in part to ensure sufficient domestic supply. Gasoline exports in 2021 slid 9.1% from a Continue Reading
Last year, Chinese policymakers shook up the world’s second-largest economy just as its rebound from the pandemic was starting to wear off, unleashing a flurry of measures to address longer-term Continue Reading
China announced on Monday that its birthrate plummeted for a fifth straight year in 2021, moving the world’s most populous country closer to the potentially seismic moment when its population Continue Reading
U.S. refiners and biofuel companies are likely to reach less than half the renewable diesel production projected by the U.S. government for 2025 due to policy and feedstock constraints, according Continue Reading
As climate change pushes states in the U.S. to dramatically cut their use of fossil fuels, many are coming to the conclusion that solar, wind and other renewable power sources Continue Reading
Frackers in America’s hottest oil field are facing an expensive new setback: earthquakes. Shale companies in West Texas will have to pay more to move millions of barrels of wastewater that surfaces Continue Reading
Despite the White House’s best attempts, oil prices are set to continue to climb this year. Many OPEC members are struggling with their higher production quotas because of technical issues. Continue Reading
Forecasters are predicting a cold snap over the next two weeks. United States natural gas prices could climb even higher if the Arctic blasts materialize. If the U.S. experiences a Continue Reading
The number of people with COVID-19 in French hospitals rose by 888 to 25,775, the health ministry said on Monday, the biggest one-day increase since early November 2020 – before Continue Reading
Saudi Arabia’s planned purchase of Polish refining assets is set to put OPEC’s top producer in charge of two-thirds of Poland’s oil supply, eroding previously dominant supplier Russia’s leverage as Continue Reading
When Christian Hurtz opened his electricity bill just before New Year, his jaw dropped: it had more than trebled from the rate he signed up for. The 41-year-old software developer Continue Reading
Russia may be able to deliver only about half of its scheduled increases in crude production over the next six months, joining the ranks of OPEC+ nations that are struggling Continue Reading
Highlights Average daily storage withdrawals over 1 TWh lower YoY Inventory 26 TWh lower than 2021 levels Tanks less than 47% full Warmer-than-average temperatures and strong pipeline gas imports from Continue Reading
Shell, ScottishPower secured joint offers for rights to develop large-scale floating wind farms as part of ScotWind leasing. Shell and ScottishPower have secured joint offers for seabed rights to develop Continue Reading
Oil prices rose on Monday, with Brent futures touching their highest in more than three years, as investors bet supply will remain tight amid restrained output by major producers with Continue Reading
Covid era peak oil demand predictions didn’t age well as oil demand is still going strong despite the fresh scare of the Omicron variant IEA Chief Birol: Demand dynamics are Continue Reading
Woodmac: Natural gas demand is likely to remain resilient in the short term LNG exporters are expected to post strong results at the start of 2022 Natural gas prices could Continue Reading
Below are a number of oil, crude plus condensate (C + C ), production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated Continue Reading
Trying to catch a bus at the Maliya station in Kuwait City can be unbearable in the summer. About two-thirds of the city’s buses pass through the hub, and schedules Continue Reading
Iraq’s overall oil production recovered steadily in 2021 — rising from just over 4 million barrels per day (bpd) in January to nearly 4.5 million bpd in December — as Continue Reading
Abuja — Some monarchs and civil society groups in the Niger Delta have dragged the National Assembly to the Federal High Court in Abuja, seeking a restraining order in the Continue Reading
Iraq might for the first time in years get a government that excludes Iran-backed parties if a powerful populist cleric who dominated a recent election keeps his word, Iraqi politicians, Continue Reading
Yemen’s Iran-aligned Houthi movement said on Monday it had carried out an attack on the United Arab Emirates after authorities in the Gulf state reported two fires in the capital Continue Reading
Forecasts for the second year of strong global growth face two main dangers: the health of China’s economy and the prospect of much higher U.S. interest rates. How the world’s Continue Reading
China’s battle to contain the Omicron coronavirus variant risks choking already stretched global supply chains, manufacturing managers and analysts have warned, threatening production of goods ranging from smartphones to furniture. Continue Reading
Companies are bracing for another round of potentially debilitating supply chain disruptions as China, home to about a third of global manufacturing, imposes sweeping lockdowns in an attempt to keep Continue Reading
Construction and property sales have slumped. Small businesses have shut because of rising costs and weak sales. Debt-laden local governments are cutting the pay of civil servants. China’s economy slowed Continue Reading
China’s GDP expands 8.1% in 2021, grows 4% in Q4 Crude throughput to rise 454,000 b/d in 2022: Platts Analytics Crude output rises 3% to hit 4 million b/d in Continue Reading
Highlights 34 ships already released for export Miners hope ban to be lifted for those meeting domestic market obligation Meeting to review Nov-Dec DMO fulfillment Jan. 18-20 Indonesia may release Continue Reading
Gas shows indicate more than Japan’s total 1 Tcf recoverable gas reserves Estimated gas production equates to 1.2% of the country’s consumption Gas self-sufficiency rate seen rising to 3.4%, from Continue Reading
China’s central bank cut its key interest rate for the first time in almost two years to help bolster an economy that’s lost momentum because of a property slump and Continue Reading
As companies rush to set climate goals, some aren’t even getting the basics quite right when it comes to accounting for greenhouse-gas emissions. That’s what researchers in Ireland, the U.K., Continue Reading
German Chancellor Angela Merkel and other European leaders turn a wheel with Russian President Dmitry Medvedev to symbolically start the flow of gas through the Nord Stream gas pipeline in Continue Reading
BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP Continue Reading
Northvolt Chief Executive Peter Carlsson wants to take on his old boss Elon Musk with the greenest electric vehicle batteries in the world. But he needs to start producing them Continue Reading
Norway’s exports surged to a record last year, helped by higher demand for fossil fuels, fish, and metals. Western Europe’s largest oil and gas exporter sold 1.38 trillion kroner ($156 Continue Reading
Nord Stream 2, Russia’s gas pipeline across the Baltic Sea, has already driven a wedge between Germany and the US and sown discord in Europe. Now, as fears mount that Continue Reading
No one expected much progress from this past week’s diplomatic marathon to defuse the security crisis Russia has ignited in Eastern Europe by surrounding Ukraine on three sides with 100,000 Continue Reading
Oil posted a fourth straight weekly gain, the longest winning streak since October, on signs that the market is tightening as global consumption withstands the impact of the omicron virus Continue Reading
