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, […]
The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF) and Arab Bank today signed a US$114 million […]
U.S. assets and personnel overseas could be at risk if the country decided to pass a bill against OPEC, known as NOPEC, the head of the Organization of the Petroleum Exporting Countries told member states. In a letter, […]
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 […]
The group’s latest Monthly Oil Market Report (MOMR) puts global oil demand at 96.46mn b/d this year, up by 190,000 b/d from its previous report and 5.95mn b/d higher than last year. “The upward revision mainly takes into account […]
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 […]
The government has decided to reduce oil imports from Saudi Arabia by a whopping 36 per cent in May, news agency Reuters reported quoting sources. The decision comes even after the Kingdom supported the idea of boosting […]
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