Iraq (Federal Iraq and Kurdistan Regional Government) is the second-largest crude oil producer in OPEC after Saudi Arabia. It holds the world’s fifth-largest proved crude oil reserves, at 145 billion barrels, representing 17% of proved reserves […]
SINGAPORE, Oct 3 (Reuters) – Oil prices jumped more than 3% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week […]
DUBAI, Sept 29 (Reuters) – Leading OPEC+ members have begun discussions about an oil output cut at the group’s next meeting on Oct. 5, three sources told Reuters. One OPEC source told Reuters a cut […]
Singapore, 26 September (Argus) — Suezmax rates from the Mideast Gulf have reached a record high, following firm demand to east Asia and to India and higher very large crude carrier (VLCC) freight rates. Freight […]
Oil demand has remained resilient in the face of a multitude of challenges. OPEC+ has fallen behind more than 3.5 million bpd on its output goals. The DoE has no immediate plans to start refilling […]
Global oil flows are changing ahead of the coming embargo on Russian oil, with a growing amount of Russian crude heading east. Meanwhile, the amount of fuel and oil flowing from Asia and the U.S. […]
Watch the latest video at foxbusiness.com As the renewable energy debate and how much to invest in it rages on in Washington, former BP chief scientist and U.S. Department of Energy Secretary of Science under […]
Brent oil prices could head back toward $100 a barrel as supply grows tighter in the coming months, JPMorgan said. Analysts expect oil demand to rebound by about 1.5 million a barrels in the last […]
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is not as important today as […]
Libya’s oil production rose by 3,000 barrels per day (bpd) to 1.186 million bpd on Thursday, according to the National Oil Corporation (NOC), as the African OPEC member exempted from the OPEC+ deal has seen a recovery […]
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