Oil falls more than 2% on recession and China COVID fears
– Oil slid more than 2% on Tuesday, extending losses of nearly 2% in the previous session, as recession fears and a flare-up in COVID-19 cases in China raised concern Continue Reading
Oil falls as investors take profit amid China demand concerns
Oil prices fell on Monday, snapping five days of gains, as investors took profits after a report on slowing economic activity in China, the world’s biggest crude importer, re-ignited concerns Continue Reading
OPEC cut spurs U.S. hedging – but against lower oil prices
The decision by the Organization of the Petroleum Exporting Countries and allies last week to cut oil production has spurred a flurry of activity in the options market – but Continue Reading
OPEC+ Cut Will Further Raise Tensions with the West
‘This has led to speculation that Washington may seek to further ramp-up pressure on the group, including via revival of the NOPEC bill’. OPEC+’s latest production cut will further raise Continue Reading
OPEC+ crude oil production rises in September, but still widely lags quotas: Platts survey
OPEC+ output rises 170,000 b/d, quota gap at 3.6 mil b/d Saudi Arabia pumps near quota, but Russia stagnates Nigeria hits lowest since Platts survey began in 1988 Not registered? Continue Reading
Iran toughens crackdown as some oil workers reported to join protests
Iranian security forces intensified a crackdown on anti-government protests in several Kurdish cities on Monday, as demonstrations elsewhere in Iran spread into the country’s vital energy sector. Protests have swept Continue Reading
Iran Oil Workers Strike as Antigovernment Protests Expand
The southern Iranian port town of Assaluyeh, where workers have blocked roads and protested. Workers at a petrochemical complex in southern Iran went on strike Monday, the latest sign that Continue Reading
Israel says ‘historic’ sea border deal struck with Lebanon
Israel’s prime minister said Tuesday that the country has reached a “historic agreement” with neighboring Lebanon over their shared maritime border after months of U.S.-brokered negotiations. It’s a rare agreement Continue Reading
U.S. Looks To Punish Saudi Arabia For Large OPEC+ Cut
Saudi Arabia’s latest move to cut crude oil production, despite U.S. please not to do so, should not have surprised Washington, and yet it did The immediate impact on crude Continue Reading
Senior U.S. Senator Wants To Halt All Cooperation With Saudi Arabia
U.S. Democratic Senator Bob Menendez, who is chairman of the U.S. Senate Foreign Relations Committee, blasted Saudi Arabia for leading the OPEC+ group into announcing a cut in oil production Continue Reading