Why Oil Will Keep Rising In 2021
We have seen strong moves higher in the key crude oil benchmarks-WTI, and Brent, in the last several months. This was initiated by the advent of positive news on the Continue Reading
We have seen strong moves higher in the key crude oil benchmarks-WTI, and Brent, in the last several months. This was initiated by the advent of positive news on the Continue Reading
Oil declined from a 10-month high as the dollar strengthened, taking the steam out of a recent rally, while investors assessed what impact a potential U.S. stimulus package will have Continue Reading
Oil prices were up on Thursday afternoon despite new and extended lockdowns that promise to slow any oil demand rebound that was expected for 2021. At 4:07 p.m. EST, WTI Continue Reading
Oil rose to a new 10-month high in New York on expectations that a potential $2 trillion economic relief packaged could get Americans consuming more fuel. U.S. benchmark crude futures Continue Reading
Oil rose to a new 10-month high in New York on expectations that a potential $2 trillion economic relief packaged could get Americans consuming more fuel. U.S. benchmark crude futures advanced Continue Reading
The recorded death count from the Covid-19 pandemic as of Thursday is nearing 2 million. The true extent is far worse. More than 2.8 million people have lost their lives due Continue Reading
There is a silent, ongoing, global war between motor cars and people. It is silence because, though it kills many times more people than armed conflicts and terrorist acts combined. Continue Reading
The decade ending in 2020 was the hottest in recorded history, with temperatures higher than any other period in at least two millennia and possibly much longer. The main culprit Continue Reading
2020 was effectively tied with 2016 for the hottest year on record, as global warming linked to greenhouse gas emissions showed no signs of letting up. Siberia and the Arctic Continue Reading
Global oil stockpiles fell to a seven-month low in November but OPEC, which kept its 2021 demand outlook little changed from last month’s forecast, has signaled it is still trying Continue Reading
Iraq announced two deals with countries that Iran hopes can be gradually moved further into its sphere of influence. One of the two, Lebanon, is already seen by Tehran as Continue Reading
After a record-setting 2019, annual oil output fell by about 760,000 bpd as Iraq made extraordinary cuts to help support global prices. The Iraqi Drilling Company completes drilling at the Continue Reading
Since President Trump withdrew the U.S. from a multilateral agreement aimed at curbing Iran’s atomic ambitions, Tehran has moved steadily to step up uranium enrichment and, most recently, said it was Continue Reading
The Nigerian National Petroleum Corporation has decided to focus its attention on condensates production to compensate for lost revenue from oil exports due to the country’s commitment to the OPEC+ Continue Reading
This is a well you don’t want to miss. In Namibia, an African venue that is being set up as the scene of the world’s next—and possibly last—major onshore oil Continue Reading
What is fast becoming the world’s hottest offshore oil play, the Guyana-Suriname Basin, has entered the headlines once again. Hot on the heels of ExxonMobil and its partner Malaysian state-controlled Continue Reading
Total and Apache Corporation have made their fourth oil and gas discovery offshore Suriname in the Guyana-Suriname basin, the French supermajor said on Thursday. The discovery adds to numerous other Continue Reading
The U.S. Department of Commerce said on Thursday it had blacklisted China’s state-run oil company CNOOC for helping China intimidate neighbors in the South China Sea, threatening U.S. national security, Continue Reading
Singapore — China’s anticipated robust economic growth in 2021 will help to propel domestic oil demand into top gear, with analysts S&P Global Platts spoke to expecting a consumption growth Continue Reading
Automakers around the world are shutting assembly lines because of a global shortage of semiconductors that in some cases has been exacerbated by the Trump administration’s actions against key Chinese Continue Reading
Freezing weather that’s sweeping the northern hemisphere is causing chaos in energy markets and damaging infrastructure with households from Japan to Pakistan and France being asked to curb their electricity Continue Reading
Team of 10 specialists from around the world will conduct joint research with Chinese scientists Health security expert questions to what extent authorities will seek to interfere with investigation Wuhan Continue Reading
The pace of new US jobless claims accelerated last week to the highest level since August, as the labor market continued to struggle amid a relentless surge in coronavirus cases Continue Reading
The number of people seeking unemployment aid soared last week to 965,000, the most since late August and a sign that the resurgent virus has likely escalated layoffs. The latest Continue Reading
The total US oil and gas rig count leaped by 18 to 424 in the week ending Jan. 13, rig data provider Enverus said, with the Permian seeing its largest Continue Reading
President-elect Joseph R. Biden Jr. on Thursday proposed a $1.9 trillion rescue package to combat the economic downturn and the Covid-19 crisis, outlining the type of sweeping aid that Democrats Continue Reading
President-elect Joe Biden added more than a half-dozen climate staffers to his White House team Thursday, drawing from the ranks of green groups, environmental justice advocates and former Democratic administration Continue Reading
OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war Continue Reading
Halliburton Co. reported Thursday that it has deployed the industry’s first successful electric grid-powered hydraulic fracturing operation. “Electric fracturing aligns with our goal to provide the industry with lower-carbon-intensive solutions Continue Reading
Equinor (NYSE: EQNR) has been selected to provide New York State with offshore wind power in what is being described as one of the largest renewable energy procurements in the Continue Reading
Road traffic and transportation fuel demand in most of Europe at the start of 2021 is likely at its weakest since the end of the first lockdowns in the late Continue Reading
Norway expects its oil production to rise by 19% through to 2024 on the back of new developments such as Johan Sverdrup, while it is eyeing emissions reductions in the Continue Reading
Crude oil futures edged lower during mid-morning trade in Asia Jan. 14 as any bullishness due to a draw in US crude inventories was outweighed by indications of weak fundamentals Continue Reading
Oil in New York was steady after a rally that pushed prices to the highest level in 10 months ran out of steam as a rise in U.S. fuel stockpiles Continue Reading
Oil prices edged higher on Thursday after a drawdown in U.S. crude stocks for a fifth straight week and robust data from China showing a surge in imports, though mounting Continue Reading
Oil is poised for the longest winning streak in almost two years after an industry report pointing to another decrease in U.S. crude stockpiles added impetus to a new year Continue Reading
Oil’s red-hot rally took a breather as a stronger dollar and rising refined products supplies offset shrinking U.S. crude inventories, capping the price under a key technical indicator. Futures in Continue Reading
Having recently turned even more bullish on the oil market, bringing forward up its year-end $65 Brent price target to the summer on Monday, overnight Goldman’s commodity team turned even Continue Reading
The pandemic and the pace of economic and oil demand recovery from the coronavirus-inflicted crisis are posing a major challenge to oil producers in rebalancing the market, according to Tim Continue Reading
It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few years. Yet, Continue Reading
The U.S. Energy Information Administration has raised its Brent spot average and West Texas Intermediate spot average prices for 2021. The U.S. Energy Information Administration (EIA) has raised its Brent Continue Reading
Countries dependent on oil revenues for much of their budgets will become increasingly vulnerable to problems caused by the global energy transition, the head of the International Energy Agency, Fatih Continue Reading
Global oil demand is expected to grow by 5.6 million barrels per day (bpd) in 2021 compared to the 2020 low of 92.2 million bpd, the U.S. Energy Information Administration Continue Reading
Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. (Bloomberg) — Saudi Aramco is Continue Reading
After a record-setting 2019, annual oil output fell by about 760,000 bpd as Iraq made extraordinary cuts to help support global prices. The Iraqi Drilling Company completes drilling at the Continue Reading
Market tightness is the new byword on the global crude markets, though this given bout of supply scarcity (luckily) bears all the traits of a forethought and premeditated one. Saudi Continue Reading
Iran has taken a significant new step toward possible atomic-weapons production, starting work on an assembly line to manufacture a key material used at the core of nuclear warheads, the Continue Reading
Iran has started work on uranium metal-based fuel for a research reactor, the U.N. nuclear watchdog and Tehran said on Wednesday, in the latest breach of its nuclear deal with Continue Reading
Iran said it would restart production of fuel for its Tehran Research Reactor, a facility that runs on uranium enriched to higher levels in order to produce medical isotopes. International Atomic Continue Reading
China has imposed its most widespread restrictions since the start of the coronavirus pandemic last year, placing travel restrictions on about 23m people and putting some areas into lockdown after Continue Reading