The global oil market is “walking a tightrope” between scarce supply and the possibility of a recession, the International Energy Agency (IEA) said on Wednesday, with higher prices and worsening economic conditions already taking a […]
The American Petroleum Institute (API) reported a large build this week for crude oil of 4.762 million barrels, while analysts predicted a draw of 1.933 million barrels. The build comes as the Department of Energy […]
Crude oil prices tumbled overnight Tuesday as growing COVID-19 cases in China increased ongoing worries of an economic slowdown, both fueling fears of demand destruction, Australia’s ANZ Bank said in a Wednesday note. The prospect […]
The US Energy Information Administration forecast record US crude oil production in 2023 at 12.8 million barrels per day, up from an expected 11.9 million barrels per day of production in 2022. In its July […]
Oil traders are selling oil again as concern about the course of the global economy deepens, taking the upper hand over supply fears. Brent crude has lost more than $20 per barrel over the past month, […]
Builds in global oil inventories seen for the first time in two years have helped to ease crude oil prices, the US Energy Information Administration said July 12 as it lowered its 2022 oil price […]
Libya’s western-based government has said the state oil company’s board must be dissolved and that its long-standing chairman, Mustafa Sanalla, should step down, according to several people familiar with the matter. The Government of National […]
The Pipeline and Hazardous Materials Safety Administration on July 9 backed off strict enforcement of its rule regulating natural gas gathering lines, a key prong in the Biden administration’s effort to control methane leakage, through […]
Calls continue for oil companies to produce more oil to help cut energy prices. Those calls have now joined by calls for refiners to not only produce more gasoline but to cut prices. Among those […]
World demand growth to slow to 2.7 million bpd in 2023 Sees higher demand growth than IEA OPEC June output rises 234,000 bpd after May decline LONDON, July 12 (Reuters) – OPEC expects global oil […]
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