Any attempt by U.S. shale and other oil producers to boost output this year will backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. Oil prices have surged […]
Texas’ oil and natural gas industry paid $13.9 billion in taxes and state royalties in Fiscal Year 2020, the Texas Oil and Gas Association (TXOGA) reported Monday. The fiscal 2020 figure represents a nearly 15-percent […]
Saudi Aramco is lining up a loan of about $7.5 billion for potential investors in its oil pipelines, according to people familiar with the matter. The world’s biggest oil producer has begun talks with lenders to […]
This edition of the Short-Term Energy Outlook (STEO) is the first to include forecasts for 2022. The January STEO remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve. Reduced economic activity and […]
(Bloomberg) –Oil in New York climbed to a new 10-month high as the dollar declined, increasing the appeal of commodities priced in the currency. Futures rose 1.5% to above $53 a barrel, to the highest […]
Saudi Arabia’s Red Sea crude terminals have taken on critical importance since tensions with Iran have threatened the key Gulf shipping lane through the Strait of Hormuz over the past few years. Serving those ports […]
Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported, citing an Instagram post of the governor of the Iranian Central Bank, Abdolnaser Hemmati. According […]
(Reuters) – Brent oil prices could rise to $65 per barrel by summer 2021, Goldman Sachs said on Monday, driven by output cuts in Saudi Arabia and the implications of a shift in power to […]
Oil prices fell on Monday on renewed concerns about global fuel demand amid strict coronavirus lockdowns in Europe and new movement restrictions in China, the world’s second-largest oil user, after a jump in cases there. […]
London — OPEC and its allies raised their crude oil production by 280,000 b/d in December to a seven-month high, as Libya pumped its most since mid-2013 and several other countries posted modest increases, the latest […]
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