Oil in New York posted its second weekly gain as the impact of Hurricane Ida continues to snarl U.S. oil production, though prices edged lower Friday following a weak U.S. jobs report. West Texas Intermediate […]
Lukoil PJSC, Russia’s second-largest oil producer, has enough spare capacity to restore output to pre-pandemic levels, indicating that OPEC+ cuts haven’t had any significant impact on its production potential. The company has about 90,000 barrels a […]
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. The coalition led by Saudi Arabia […]
Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our […]
The Boeing 767 banked over the Red Sea, turning east into Saudi Arabia. A commercial version of the plane can carry about 260 passengers. Inside this one, Saudi Energy Minister Prince Abdulaziz bin Salman and […]
Well, we are in historic times with pandemics, countries printing money, and inflation. If that does not make your head hurt, commodities pricing will. The important deal with OPEC + and the UAE is an […]
The unusually public dispute that tested the unity of the cartel was resolved in a classic compromise — with Riyadh meeting Abu Dhabi halfway in its demand for a more generous output limit. “Consensus building […]
OPEC+ has called a meeting on Sunday, delegates said, after the group made significant progress toward resolving a standoff with the United Arab Emirates that had blocked a deal to boost output. The online conference […]
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. Futures flickered near $75 a barrel in […]
OPEC+ was plunged into crisis as a worsening fight between Saudi Arabia and the United Arab Emirates blocked an oil-supply increase. What happens next will determine whether the breakdown of talks — which sent crude […]
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