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 […]
Monday will be a significant news day. – BRICS new monetary fund, the EU price cap on oil and the OPEC meeting. All of them are high energy price impact movers by themselves. But all […]
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 […]
OPEC issued its 2022 World Oil Outlook report this week. In it the cartel predicted global oil demand is going to continue to rise in the medium and long term, despite the West attempting to […]
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. […]
September 7, 2022 Data source: U.S. Energy Information Administration, Short-Term Energy Outlook, August 2022 We forecast that members of OPEC will collectively earn $842 billion in revenues from oil exports in 2022, the most (adjusted […]
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, […]
Even if Joe Biden secures a pledge for more oil when he visits Saudi Arabia this week, it may do little to drive down the high fuel prices roiling the global economy. The U.S. president’s […]
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