Higher net crude oil imports are set to make the United States a net petroleum importer this year again, as in 2021, after a historic shift of being a net petroleum exporter in 2020, the […]
Oil consumption could surge more than previously expected and reach record levels this year, a global energy watchdog said, as restrictions to combat the coronavirus ease faster than anticipated, global economic growth mounts and pent-up […]
Global oil markets are reacting to news from Eastern Europe that Russia has retracted troops from the Ukrainian border. However, price relief may be short-lived as bullish factors remain, reckons consultancy Rystad Energy. In a […]
Toril Bosoni, head of the International Energy Agency’s markets and industry division, says oil prices could climb further because of the OPEC+ coalition’s “chronic” struggle to revive production. “It’s not in the interest of consumers, but […]
OPEC and its allies are expected to approve another modest oil-output increase this week, yet once again struggle to deliver all of the extra supplies into a red-hot crude market. The recovery in fuel consumption from the […]
Where did all the oil go? According to the latest estimates, the world should still be awash in oil stockpiles built up during the pandemic. But that’s not what the actual data on oil supplies […]
The continued rising commodity and transport prices could effect cost reductions achieved over the last decade in onshore wind and solar, according to the International Energy Agency (IEA). Amidst pandemic-induced supply chain challenges and construction delays throughout […]
Brent oil declined from its highest level in seven years as a U.S. industry report pointed to an increase in crude stockpiles and China unleashed measures aimed at stabilizing its power supplies for the winter. […]
Last week, Saudi Aramco’s chief executive officer, Amin Nasser, said that the company expects to boost its oil production capacity to 13 million barrels per day (bpd) by 2027. The EIA defines spare capacity very […]
Skyrocketing prices for natural gas, coal and electricity are putting extra pressure on oil markets, boosting demand as industries and power generators seek to switch to liquid fuels to keep a lid on costs. But […]
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