The world risks becoming ever more reliant on Middle Eastern oil as lower prices derail efforts by governments to curb demand, the west’s leading energy body has warned. The head Continue Reading
The Syncrude Canada Ltd. refinery, Alberta. The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year Continue Reading
The oil market is now in balance thanks to unplanned outages and robust demand, particularly from emerging economies, but this equilibrium will tilt into surplus again early next year, the Continue Reading
According to the June IEA report, the global oil supply overall was down 0.8 mb/d for last month, due to outages in both OPEC and non-OPEC nations. Output was at Continue Reading
First-half glut is 800,000 b/d, 40% less than last estimate The global oil market will be almost balanced next year as demand continues to rise faster than production, while the Continue Reading
The IEA said unplanned shut-ins in Canada will help… Global oil markets are moving close to balance in the second half of this year on a significantly stronger than expected Continue Reading
Crude oil prices rallied to a 2016 high above $51/bbl in June, stoked by continuing outages in Nigeria and Canada as well as a steady decline in US oil production. May Continue Reading
U.S. crude stockpiles fell unexpectedly last week for the first time since March as imports slipped, U.S. government data showed on Wednesday. Gasoline and distillate inventories also dropped more than Continue Reading
The West’s energy watchdog, the International Energy Agency, faces a possible legal split from its parent body following decades of friction and fresh disagreements over cooperation with China, a document Continue Reading
* Fall in upstream oil investment could lead to future price spikes * Recent rally in oil prices supported by fall in non-OPEC production * Urges G7 countries to find Continue Reading
