The U.S. Energy Information Administration (EIA) has revealed its latest Brent spot average price forecasts for 2023 and 2024 in its October short term energy outlook (STEO), which was released this week. According to the […]
Saudi Arabia is putting United States-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh’s thinking told Reuters news agency, signalling a rapid rethink of its foreign policy priorities as war escalates between […]
Nigeria upped its production by 110,000 bpd, while Iran’s output reached its highest since 2018, exempt from OPEC+ cuts because of U.S. sanctions. Saudi Arabia maintained its commitment to pumping approximately 9 million bpd in […]
OPEC raised forecasts for global oil demand through to the middle of the century, even as the world shifts away from fossil fuels to avert catastrophic climate change. Oil consumption will climb 16% over the […]
Overview This Fact Sheet analyzes the upstream oil industry’s record on flaring in Canada relative to other top oil-producing countries. Gas flaring is the burning off of the natural gas that is generated in the […]
Saudi Arabia and Russia have both confirmed that they will be keeping their supply cuts in November despite the recent oil price rally. The announcements came just hours before the Joint Ministerial Monitoring Committee and […]
The recent oil price rally has been driven, in large part, by Saudi Arabia’s and Russia’s efforts to cut supply to the global crude market. Both China and the West are negatively impacted by high […]
The world’s biggest oil producer is finally moving to grab a piece of the booming natural gas market, the latest proof that the industry expects the fuel to play a significant part in the energy […]
In a statement to the 67th International Atomic Energy Agency General Conference, Minister of Energy Prince Abdulaziz Bin Salman Bin Abdulaziz Al Saud reiterated the Kingdom of Saudi Arabia’s intention to develop “peaceful uses for nuclear energy […]
Saudi Arabia and Russia have raked in billions of dollars in extra oil revenues in recent months, despite pumping fewer barrels, after their production cuts sent crude prices soaring. The cutbacks were a risky strategy, […]
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