Energy News Beat Publishers Note: There are some real nuggets in the full International Energy Agency (IEA) and the U.S. Energy Information Administration (EIA) STEO released this morning. The bottom line: Global economic growth in […]
Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said. Crude rallied to a 14-month high last week after Saudi Arabia and […]
China is gorging on sanctioned Iranian oil — with imports forecast to more than double this month from February — as other countries hold off purchases for fear of incurring the wrath of the U.S. […]
The group’s latest Monthly Oil Market Report (MOMR) sees global oil demand reaching 96.27mn b/d this year, up by 5.89mn b/d from 2020. The previous report pegged this year’s demand growth at 5.79mn b/d. Opec said it has […]
A big unilateral cut by Saudi Arabia enabled Opec-plus to post the highest compliance rate so far with the oil production cuts it began implementing last May. The Saudis lowered their production by 979,000 barrels […]
India has asked state refiners to speed up the diversification of oil imports to gradually cut their dependence on the Middle East after OPEC+ decided last week to largely continue production cuts in April, two […]
International oil prices rose after OPEC and its allies ignored India’s plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at rock bottom rates last year. Brent crude, the […]
Energy News Beat Publishers Note: David Ramsden Wood hits it out of the park this morning. While David’s friends call him “DRW”, he is most known for speaking his mind. Personally, I think the DRW […]
OPEC+’s surprise move to keep a lid on crude exports is hitting oil tanker owners afresh. Shares of owners giant supertankers including Frontline Ltd., International Seaways Inc. and DHT Holdings Inc. all fell late Thursday […]
Saudi Arabia just made a high-stakes wager that the glory days of U.S. shale, which transformed the global energy map in the last decade, are never coming back. By keeping a tight grip on supply […]
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