Three weeks ago, President Joe Biden threatened Saudi Arabia with “consequences” after OPEC+ decided to cut production. Turkey’s Foreign Minister Mevlut Cavusoglu, for instance, called Biden’s behavior towards Riyadh “bullying”. Saudi Foreign Minister Al-Jubeir has […]
OPEC on Monday cut its forecast for 2022 global oil demand growth for a fifth time since April and also trimmed next year’s figure, citing mounting economic challenges including high inflation and rising interest rates. […]
Kuwait has announced an official commitment to becoming carbon neutral in the oil and gas sector by 2050, Foreign Minister, Salem Al-Sabah told state news agency, KUNA, on Monday on the sidelines of COP27 climate summit […]
As October drew to a close, the White House saw another potential energy flash point on the horizon. Diesel and heating oil inventories in the US Northeast were getting worryingly low. Officials swung into action, […]
The OPEC+ oil producer alliance, which had pledged to cut output by 100,000 b/d in October, instead hiked production by 220,000 b/d as several members recovered some barrels lost by outages and maintenance, the latest […]
OPEC issued its 2022 World Oil Outlook report this week. In it the cartel predicted global oil demand is going to continue to rise in the medium and long term, despite the West attempting to […]
Authored by Tsvetana Paraskova via OilPrice.com, Large nickel producer Indonesia sees merit in the formation of an OPEC-like cartel for battery metals. Indonesia has not yet contacted other nickel-producing countries to discuss the idea of […]
Saudi Aramco’s total hydrocarbon output reached 14.4 million b/d of oil equivalent in the third quarter of 2022, as Saudi Arabia, the world’s largest oil exporting country brought on more supply to the oil markets […]
With the global economy in crisis, more oil and gas production is needed, a top US envoy said Oct. 31, sharing a stage with Saudi and UAE energy ministers, who defended the recent decision by […]
Update: Well, we nailed it in the preview – President Trump blamed OPEC, blamed Big Oil (and its greed), blamed local gas stations (naively claiming that “gas prices should reflect the cost of a barrel […]
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