LONDON: OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the coronavirus crisis in India, an outlook that bolsters the group’s plan to […]
U.S. crude oil imports from OPEC are down, but imports from Canada remain high Source: U.S. Energy Information Administration, Petroleum Supply Monthly Voluntary OPEC production cuts have been contributing to reduced U.S. crude oil imports from OPEC so far […]
Oil prices rose on Wednesday amid optimistic forecasts of global fuel demand recovery, while the rapid spread of COVID-19 infections in India and a bigger-than-expected build in U.S. crude stocks capped gains. U.S. West Texas […]
British oil giant BP said Tuesday that it rebounded into first-quarter net profit as oil prices recovered from a virus-driven slump. Earnings after taxation hit $4.7 billion (3.9 billion euros) in the three months to the end of March, […]
New Delhi: Global oil prices will climb above $70 per barrel around mid-2021 as improved supply and demand fundamentals beginning May lead to substantial stock draws through to August, according to S&P Global Platts. The research firm said […]
Oil switched between gains and losses after Saudi Arabia said it was confident that OPEC+ was right in agreeing to raise output and India posted its strongest oil consumption in 15 months. While West Texas […]
A multi-trillion dollar spending push designed to diversify the economy’s sources of income will require state companies to cut the dividends they pay the government to boost capital spending, Crown Prince Mohammed bin Salman has […]
Energy News Beat Publishers Note (ENB): We have been covering for the last year that Iran has never stopped shipping oil because of the countries requirement of cash flow caused by sanctions. They admit to […]
Energy News Beat Publishers Note: This meeting between Iran and the U.S. will be one to watch for several reasons. The sanctions placed on Iran have been taking their toll and disrupting cash flow for […]
Saudi Arabia on Sunday raised the ‘official selling price’, or OSP, of oil shipments to Asia in May but left the price for Europe unchanged, indicating the world’s largest crude exporter is unimpressed by India’s plan […]
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