Soaring temperatures in one of the world’s top energy-producing regions could drive fuel prices higher as countries there burn more oil and natural gas to keep homes cool. Saudi Arabia, the United Arab Emirates and […]
U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global economic activity and demand for […]
OPEC+ appears in control of crude prices as U.S. production is lagging pre-pandemic levels, according to a senior executive at the world’s biggest independent oil trader, Vitol Group. The decline in U.S. drilling and output […]
Oil rose towards $72 a barrel on Friday, trading close to a two-year high as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. The Organization of the Petroleum […]
Energy News Beat Publishers Note (ENB): There is mounting evidence that the rush to green is not going to be as pretty as people are saying. With the big oil companies leaving the oil production […]
MOSCOW (Bloomberg) –The world’s largest petrostates rejected calls for a rapid shift away from oil and gas, warning that starving the industry of investment would harm the global economy. His warnings were echoed by the […]
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace […]
Energy News Beat Publishers Note (ENB): The current path is a long-term energy mix that will impact the less fortunate hardest. The current events of western oil companies not able to produce more, and with […]
For oil traders, the biggest question in the market is how fast OPEC and its allies will revive production later this year. Next week they may get some clues. When it meets on Tuesday, delegates […]
After over a year of pandemic-driven volatility and weak oil demand, Saudi Arabia is now experiencing an oil export boom. Saudi Arabia’s oil exports increased in March by 75 percent year-on-year, at a value of […]
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