AAA reports that the average price for regular gas at the pump hit $3.825 on August 9, the highest level seen in 2023, amid growing concerns that global oil markets are undersupplied by as much […]
The implications are enormous, for global commerce, and especially for America. China straddles both worlds. It’s the world’s largest coal producer and consumer – and the second-largest fossil fuels consumer after the USA. Although the […]
OPEC+ leaders Saudi Arabia and Russia are set to keep tightening the oil market into the autumn, announcing Aug. 3 they will extend their supply cuts through at least September. Saudi Arabia will continue the […]
By Grant Smith, Bloomberg Markets Live oil reporter The biggest question in oil markets is how long Saudi Arabia will extend its 1 million-barrel-a-day supply cut. Riyadh’s handling of a previous strategy offers some guidance […]
Those who aren’t irredeemably brainwashed and sincerely aspire to understand the global systemic transition to multipolarity as it objectively exists instead of indulging in wishful thinking about it should use this unpleasant development as the […]
Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in […]
In a statement sent to Rigzone recently, Rystad Energy revealed that, according to its research, total global recoverable oil reserves now stand at 1.624 trillion barrels. Rystad highlighted in the statement that, since the company’s […]
Net long positions in WTI and Brent jumped by most in three months in the period from July 3 to July 11. Even if the recent Saudi moves didn’t result in major price rallies in […]
Saudi Arabia is dominating the market for new gas-fired power plants in the Middle East, with Mitsubishi Power providing the kingdom with advanced technology, according to Javier Cavada, president and CEO of Europe, the Middle […]
The International Monetary Fund (IMF) has approved a much-awaited $3bn bailout for Pakistan, a move that is likely to help prevent the South Asian country from defaulting on its debt repayments. In a statement on […]
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