Ongoing coronavirus lockdowns impacting Chinese demand China also diversifying crude imports from other suppliers Further expanding energy cooperation is set to be high up the agenda when Russian President Vladimir Continue Reading
One-off tax to target ‘surplus’ oil, gas, coal profits in 2022 Minimum excess tax rate of 33% proposed EU oil industry flags concern over tax calculation The European Commission proposed Continue Reading
As the EU ban on Russian oil and fuels looms, demand for tankers – particularly ice tankers – has been climbing. In early August, the average profit for an oil Continue Reading
IEA: EU ban on Russian seaborne crude may take 2.4 million bpd off the market. IEA: Total Russian oil production will decline to 9.5 million bpd. European countries are importing Continue Reading
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
