World oil demand next year is expected to increase by 1.8 million barrels per day, OPEC said in its latest Monthly Oil Market Report released on Tuesday. OPEC sees the demand for crude oil rising […]
A year and a half after a renowned Harvard professor described the pandemic of 2020 as “the mother of all shocks” to energy markets, oil and gas prices are still being rocked by supply and […]
DUBAI, Jan 30 (Reuters) – Saudi Arabia’s government on Tuesday ordered state oil company Aramco (2222.SE), opens new tab to halt its oil expansion plan and to target a maximum sustained production capacity of 12 million barrels […]
OPEC’s top official said forecasts that oil demand is heading toward a peak will prove just as misguided as earlier predictions that supply was reaching its zenith. “Ultimately, peak oil supply has never come to […]
State-owned LNG terminal operator Deutsche Energy Terminal has awarded a contract to compatriot tugboat owner Fairplay Towage. Under the contract, Fairplay will be in charge to provide all assisting tugs for the DET-operated FSRU-based LNG […]
(Bloomberg) – Angola quit OPEC because its quota limits hindered the country’s plans to stabilize crude production above 1 MMbpd, according to the country’s top oil official. The African nation’s December exit from OPEC came […]
Fears of lower demand and rising non-OPEC supply threatens OPEC+ cuts. U.S. oil producers took everyone by surprise this year by adding 1 million barrels in daily output. OPEC’s share in the global total may […]
Oil Price OPEC could potentially face further loss of market share in early 2024 following the recent departure of Angola, weakening demand and rising output by non-OPEC producers, Reuters claims, based on its own calculations. […]
New Delhi has been boosting energy purchases from Moscow despite Western pressure to shun sanctioned crude Indian officials believe that global crude oil prices would have skyrocketed if they had not ramped up imports from […]
OPEC+ faces record-breaking U.S. oil production and rising supply from other non-OPEC+ producers, including Brazil, Guyana, Canada, and Norway. Barring a major geopolitical escalation resulting in a large supply outage, oil prices are unlikely to […]
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