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 […]
China, the world’s largest oil importer, has just increased demand for crude for the remainder of the year, supporting near-term prices despite a souring macroeconomic backdrop across the globe, elevated US dollar, and the impact […]
CNBC’s Brian Sullivan sits down with Saudi Arabia’s Prince Abdulaziz bin Salman to discuss the decision from OPEC+ to cut oil production, a move that has sparked intense criticism from the White House. […]
The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, […]
Oil tankers that previously carried Iranian oil are switching to haul Russian crude, according to shipping analytics company Vortexa. Eleven of the tracked ships that previously carried Iranian crude have loaded Russian oil and products since April, […]
Firm’s net income rose to almost $40 billion in first-quarter Aramco follows Big Oil rivals such as BP with bumper earnings Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged […]
All 13 members of OPEC saw their production rise by just 153,000 barrels per day. OPEC’s collective production rose to 28.648 million bpd in April. Saudi Arabia, raised its production by 127,000 bpd to 10.346 […]
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