Fears of lower demand and rising non-OPEC supply threatens OPEC+ cuts. U.S. oil producers took everyone by surprise this year by adding 1 million barrels in daily output. OPEC’s share in the global total may […]
Iran sends destroyer to waterway as US navy sinks Houthi boats Brent declined 10% last year, its first annual drop since 2020 Oil rose after Iran sent a warship to the Red Sea in response to […]
If each side’s respective drills go off without a hitch, then they can spin it as though the other backed down, which can further galvanize their public in support of the state and its policy […]
CNBC Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and global measures to rein in inflation triggered wild fluctuations in prices. […]
World Oil (WO) – QatarEnergy has announced a five-year crude oil supply agreement with Shell International Eastern Trading Company, Singapore (Shell). Source: World Oil The agreement stipulates the supply of up to 18 MMbbl per […]
Oil Price OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations. […]
Russia and Iran have reportedly agreed to avoid the dollar in bilateral trade and use their own currencies instead. The move is seen as part of the de-dollarization trend among nations to shift away from […]
Oil Price A fifth of global oil trade this year was settled in currencies different from the U.S. dollar as countries such as Russia and China move away from the petrodollar. This is according to […]
Oil Price U.S. crude oil production has overwhelmingly exceeded earlier forecasts and has grown at a much faster pace this year, offsetting much of the OPEC+ efforts to push up prices by coordinated supply reductions. […]
Many Global South states were already struggling to deal with COVID-connected debt problems prior to the West’s anti-Russian sanctions worsening their food insecurity, so an energy price crisis on top of that could have pushed […]
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