OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. […]
By Alex Kimani of OilPrice.com Over the past five years, the United States’ largest independent oil and gas company, Exxon Mobil, has mostly focused its exploratory activities in South America. Last month, the oil […]
Record-low differentials for heavy crudes that compete on the US Gulf Coast may not rebound until the Trans Mountain pipeline expansion enters service and diverts Canadian sour barrels away from the US and toward Canada’s […]
US energy dominance has altered a fundamental economic relationship. Today, rising oil prices are associated with a strengthening US dollar, whereas rising oil prices once caused the dollar’s exchange rate to decline. Rising US oil, […]
China’s passion for Alaskan oil appears to be over as the country turns to Russia. Surging Chinese energy demand amid Covid lockdowns on the US West Coast prompted Alaskan oil exporters to ship more crude […]
Kuwait has announced an official commitment to becoming carbon neutral in the oil and gas sector by 2050, Foreign Minister, Salem Al-Sabah told state news agency, KUNA, on Monday on the sidelines of COP27 climate summit […]
Middle Eastern jet fuel supplies have tightened in H1 November amid a spike in regional consumption ahead of the FIFA World Cup 2022 tournament in Qatar, market sources Nov. 9, anchoring prices in the region. […]
State-owned oil and gas giant PetroChina forecasts that China’s natural gas demand growth in 2022 may be the lowest annual rate on record — and possibly even negative — as high LNG prices, sluggish economic […]
The US slashed its forecast for 2023 oil production in the latest sign that world crude markets can’t rely on American shale fields to ramp up supply quickly enough to reduce high energy prices over […]
For a third day oil fell, off weakened Chinese demand outlook as well as rising US inventories, which were revealed in a new industry report. After falling 4% over the first two days of the […]
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