The oil-price rally continued in full force on Monday, with Brent crude closing in on $95 per barrel in early afternoon trading, and some crude grades around the world topping $100. At 12:23 p.m. ET […]
World oil demand remains on track to grow by 2.2 mb/d in 2023 to 101.8 mb/d, led by resurgent Chinese consumption, jet fuel and petrochemical feedstocks. In 2024, naphtha and LPG/ethane, especially in China, will […]
Last week, Brent crude topped $90 per barrel for the first time since last November, and WTI climbed to an 11-month high, too. The reason: Saudi Arabia and Russia said they would extend their oil […]
Extensions come despite oil rally, fresh blow to Biden Riyadh extends 1 mln bpd cuts to end-2023 Moscow extends 300,000 bpd cuts to year-end Both to review cuts monthly, may deepen or boost DUBAI, Sept […]
Oil prices slid on Monday morning, with Brent falling below $86 per barrel and WTI trading at $82.31. China’s economic woes combined with a strong U.S. dollar are weighing on oil prices. OPEC+ production cuts […]
Wall Street giant BlackRock just added the CEO of Saudi Arabia ’s national oil company, Saudi Aramco, to its board of directors. The New York Times headline announcing the move read, “ BlackRock Forges New Ties With Big Oil ,” giving the impression […]
US fuel stockpiles fell sharply last week -EIA US crude stocks soar on record export drop -EIA Saudi cabinet reaffirms support for OPEC+ measures Oil prices hit new peaks on Wednesday with the global Brent […]
Russia is expecting extra oil and gas revenues to reach 1 trillion rubles, or $11 billion, in the last five months of the year despite sanctions, embargos, and price caps, two people with knowledge of […]
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 […]
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 […]
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