The effects of a possible oil shock, however, ‘should not be underestimated,’ the Commerzbank economists warned. Many economies have taken strides away from heavy oil consumption, thanks to transport and Continue Reading
After attacks on its oil infrastructure, Saudi Arabia is moving forward with the much-anticipated initial public offering of its state-owned oil company and considering a proposal to offer investors a Continue Reading
Iraq set an all-time record for oil output in August, producing nearly 5 million barrels per day (bpd) — a significant increase that demonstrates the country’s potential to provide a Continue Reading
Crude declined to the lowest since Saudi Arabia’s oil industry suffered devastating attacks as investors gauged the kingdom’s efforts to restore production. Futures in New York settled down 1.4% to the Continue Reading
The International Energy Agency is confident Saudi Arabia will do all it can to keep the oil market well supplied despite the recent attacks, but at the same time it Continue Reading
Meanwhile, Saudi Arabia has stopped short of directly accusing Iran of mounting the airstrikes, partly because Saudi officials are concerned that escalating military responses would debilitate the kingdom’s economy further, Continue Reading
Two days after Iran said that the detained UK-flagged oil tanker was “free to leave Iran,” officials in the Islamic Republic said on Wednesday that the detention order had been Continue Reading
Saudi Aramco has restored Saudi Arabia’s oil production capacity to 11.3 million bpd—the level before the attacks on oil facilities ten days ago, Reuters reported on Wednesday, citing three sources Continue Reading
The Trump administration’s plan to rally global naval powers to protect shipping lanes in the Persian Gulf is not progressing very well. After President Trump pulled back from a military Continue Reading
Two months into Turkey’s new military offensive targeting PKK positions in Iraqi Kurdistan – and following the assassination of a Turkish diplomat in Erbil – a decades-old conflict is entering Continue Reading
