Independent commodity trader Trafigura said July 13 it has sold its 10% stake in Russia’s giant Vostok Oil venture to a privately-held, Hong Kong-based trading company Nord Axis for an undisclosed sum. Trafigura first announced […]
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 […]
Brussels, 13 July (Argus) — The European Parliament’s energy committee today voted to increase the share of renewables in the bloc’s energy mix to a 45pc target and to increase energy savings, reducing usage by […]
Sub-Saharan Africa’s loan market had a slow start to this year but is showing resilience and is set to continue to grow, offering favourable opportunities for the region’s sovereign and corporate borrowers as well as […]
Crude oil futures were higher in mid-morning Asian trade July 13, trimming losses after a plunge of more than 7% overnight as the near-term outlook weakened considerably amid COVID-19 curbs in China and weakening sentiment […]
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 […]
US dry natural gas production in 2022 is expected to rise 2.7 billion cubic feet per day, or 3%, year over year, further increasing to nearly 100 Bcf/d in 2023, the US Energy Information Administration […]
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, […]
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