US oil production this year will rise faster than previously expected, providing additional crude supplies to a market that has tightened because of Saudi Arabian output cuts, according to a new government forecast. Higher-than-expected well […]
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 […]
By Tsvetana Paraskova of OilPrice.com, China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the […]
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 […]
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 […]
By Grant Smith, Bloomberg Markets Live oil reporter The biggest question in oil markets is how long Saudi Arabia will extend its 1 million-barrel-a-day supply cut. Riyadh’s handling of a previous strategy offers some guidance […]
Net long positions in WTI and Brent jumped by most in three months in the period from July 3 to July 11. Even if the recent Saudi moves didn’t result in major price rallies in […]
Saudi Arabia is dominating the market for new gas-fired power plants in the Middle East, with Mitsubishi Power providing the kingdom with advanced technology, according to Javier Cavada, president and CEO of Europe, the Middle […]
The United States energy independence achieved in 2020 has been sacrificed on the altar of climate change, terminated with malice as part of an effort to “end fossil fuels”. This effort would ultimately make the entire US […]
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