Oil rallied as Saudi Arabia signaled confidence in the demand outlook with a surprise boost in crude prices, while investors awaited comments on monetary policy from Federal Reserve Chair Jerome Powell. West Texas Intermediate futures […]
Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double. While […]
Saudi Arabia’s energy minister reiterated that the kingdom will remain cautious about raising oil production, even as several prominent analysts say rising demand will soon trigger a jump in prices.“I will believe it when I […]
OPEC+ delegates said they expect an advisory committee of ministers to recommend keeping oil production levels unchanged when they meet next week amid a tentative recovery in global demand. Saudi Arabia and its partners will […]
By Grant Smith and Mark Cudmore, Bloomberg markets live reports and strategists Oil prices may have surrendered the bulk of this year’s gains, but the conditions are right to lure back bulls in the new […]
The recent crude price slump may not be indicative for what is to come in oil markets according to several investment bank analysts. OPEC has not consistently produced more than 30 million bpd since 2015-2018. […]
Authored by Tsvetana Paraskova via OilPrice.com, Sanctions on key oil exporters have given rise to a lucrative black market for crude. The EU embargo on Russian crude oil imports and the price cap on Russian […]
Supertanker rates reached record levels earlier this year. Very Large Crude Carrier rates have plunged to just $38,000 per day, falling some 62% from a few weeks ago. OPEC+ cuts and waning SPR releases are […]
The Bank of America has predicted that Brent could quickly go past $90 per barrel on the back of a dovish pivot in the U.S. Federal Reserve and successful economic reopening by China. BofA’s chief […]
The world’s biggest petroleum exporter, a country built with oil money, and a founding member of the most powerful oil cartel on Earth, is now styling itself as a pioneer of climate change solutions. At […]
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