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 […]
Video Duration 26 minutes 00 seconds 26:00 Oil producers are facing falling oil prices – and bets by Wall Street speculators could push prices further down. Saudi Arabia says it wants to target those traders. […]
Saudi Arabia has said it will reduce how much oil it sends to the global economy by one million barrels per day (bpd), as the OPEC+ alliance of major oil-producing countries faces flagging oil prices […]
OPEC+ members in Vienna have agreed to extend crude production cuts into 2024. In a statement, the cartel said that it was acting ” to achieve and sustain a stable oil market,” and that it […]
Saudis offers new voluntary cuts of 1 mln bpd for July Russian, Nigerian, Angolan targets brought in line with output UAE allowed to raise production (Reuters) – Saudi Arabia will make deep production cuts in […]
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