LONDON (Bloomberg) –OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains […]
The oil market flashed its biggest bearish signal in months on Tuesday, indicating oversupply could be on the horizon through the first quarter of 2022. Brent crude for February settlement flipped to trade at a […]
Saudi Arabia said global oil production could drop 30% by the end of the decade due to falling investment in fossil fuels. “We’re heading toward a phase that could be dangerous if there’s not enough […]
There are some things that don’t add up in the world, like the knee-jerk reaction to Omicron, how your wife and kids figured out inflation and asked for more money, and the non-decision of OPEC […]
The OPEC+ meeting that began on Dec. 1 is still technically “in session” 11 days later. Remarkably, perhaps, it’s still short of being the oil producer group’s longest gathering — it has another week to go to beat the one held […]
Halliburton Co. and Exxon Mobil Corp. are in talks over the oil company’s stake in the West Qurna-1 field in southern Iraq, the country’s oil minister said. Iraq supports a U.S. partner for Exxon’s stake in the oil […]
Source: Graph by the U.S. Energy Information Administration, based on Intercontinental Exchange and Bloomberg The front-month futures price for Brent crude oil decreased by $9.50 per barrel, or nearly 12%, on November 26 after the World […]
Source: U.S. Energy Information Administration, Country Analysis Brief: Brazil Brazil was the only oil-producing country in South America to report an increase in crude oil and condensate production in 2020 compared with 2019, according to our Country Analysis […]
Owners of old cars know the painful “repair-or-replace” decision. Repairing avoids spending time and money on car shopping, but sooner or later, another lingering problem sends you back to the shop. Rather than waste […]
ENB Publishers Note: Saudi Arabia has announced their budgets over the next few years and they will require $125 to $150 oil to hit the projected budget surplus. So they are not really interested in […]
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