Global oil markets were experiencing unprecedented volatility in March and April 2020, with spot U.S. crude oil trading between $47 and negative $37 a barrel. By May the world was beginning to absorb the economic shutdown. It […]
The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors as producers slash investment, causing everything from crude to diesel and natural gas to […]
Firm’s net income rose to almost $40 billion in first-quarter Aramco follows Big Oil rivals such as BP with bumper earnings Saudi Aramco posted its highest profit since its record stock-market listing, after oil prices surged […]
All 13 members of OPEC saw their production rise by just 153,000 barrels per day. OPEC’s collective production rose to 28.648 million bpd in April. Saudi Arabia, raised its production by 127,000 bpd to 10.346 […]
OPEC raised its oil production by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core OPEC members of the Middle […]
The European Union is holding a high-level dialogue meeting with OPEC on Monday, as the EU is looking at ways to step up sanctions against Russia, including by an oil embargo. The meeting, being held […]
Proponents of fossil fuel production hit back against efforts to tackle the climate crisis by urgently phasing out the burning of hydrocarbons, as the Russian invasion of Ukraine severely disrupts energy supplies. A series of […]
Russia’s invasion of Ukraine has sent oil prices soaring and could soon deprive oil markets of more than four million barrels of Russian oil. For decades, OPEC has been looked to in times of crisis […]
DUBAI (Reuters) – Saudi Arabia’s crown prince says he simply doesn’t care whether Joe Biden misunderstands him. The prince is instead looking to his oil power to deliver his goals, according to sources familiar with […]
‘Plenty of twists and turns to come,’ says Vitol’s Muller Vitol’s views echo those of Wall Street banks such as Goldman Global oil markets could tighten even more with Russian flows being disrupted and producers […]
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