Oil prices dropped significantly on Friday and Monday morning due to concerns about a potential recession in the U.S. and weak Chinese demand. The decline was partially offset by rising tensions in the Middle East, […]
Oil prices continued to fall on Tuesday morning, ignoring the rising geopolitical risk in the Middle East and the potential of a supply disruption in Venezuela. Concerns about global demand continue to drive bearish sentiment […]
Oil and petroleum-based products are indispensable in the process of increasing electrification and expansion of power grids globally, OPEC Secretary General Haitham Al Ghais said on Monday, noting that the energy mix is not a […]
Weekly Daily Standup Top Stories Ford scraps plans for $1.8-billion Oakville EV assembly plant, will retool to make gasoline pickups July 21, 2024 Stu Turley New plan comes after Ford postponed EV plant launch to 2027; […]
Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels. The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. […]
WASHINGTON, July 24 (Reuters) – Democratic U.S. lawmakers on Wednesday introduced a bill to hold energy companies accountable if they are found by federal regulators to have colluded with the Organization of the Petroleum Exporting […]
From the mid-1990s to onset of Covid at the end of 2019, China almost singlehandedly drove the commodities supercycle, consisting of ever-increasing prices for the key materials it required to drive its extraordinary economic growth. […]
New data from Vortexa shows VLCC utilisation for OPEC+ – excluding Iran and Venezuela – fell sharply during June and reached a record low earlier this month, as exports from the group, especially Saudi Arabia, […]
OPEC has stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and strong rebound in air travel in the summer months. In its latest Monthly Oil […]
Recent data from Kpler reveals a significant decline in crude oil exports from major OPEC+ producers in June, driven largely by weak demand in Asian markets and increased domestic consumption in the Middle East. This […]
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