What psychologists refer to as “illusory truth” is the tendency people have to believe anything, no matter how false, so long as they hear it repeated often enough. Proponents of climate alarm endlessly repeat that the world […]
The African Energy Chamber: Libya’s oil production is unlikely to exceed 1.8 million bpd by 2024. This year, Libyan oil production could reach 1.3 million bpd, after averaging 1.12 million bpd in 2022. Libya’s oil […]
Rebound in Nigerian production sends OPEC production higher in December. The group of producers noted a 120,000 bpd rise in production last month according to Reuters. In December, OPEC pumped 29 million bpd. A rebound […]
By Grant Smith and Mark Cudmore, Bloomberg markets live reports and strategists Oil prices may have surrendered the bulk of this year’s gains, but the conditions are right to lure back bulls in the new […]
The recent crude price slump may not be indicative for what is to come in oil markets according to several investment bank analysts. OPEC has not consistently produced more than 30 million bpd since 2015-2018. […]
Authored by Julianne Geiger via OilPrice.com, OPEC’s crude oil production fell by an average of 744,000 barrels per day, according to OPEC’s Monthly Oil Market Report released on Tuesday. Saudi Arabia’s November production fell […]
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 […]
At its latest meeting the alliance of OPEC and its allied countries, including Russia, also known as OPEC+, has decided to not change its production quotas for member countries. Analysts say the cartel has decided […]
OPEC will maintain its production quotas, as planned, through the end of 2023, Iraq oil minister Hayan Abdul-Ghani said Dec. 3, a day ahead of the bloc’s much anticipated meeting, with its allies to review […]
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