Western nations warned the shipping industry at the weekend of increased risks to vessels transiting the Strait of Hormuz in the Middle East. “As of now, the timeline remains at 72 hours” from Saturday, maritime […]
Wall Street giant BlackRock just added the CEO of Saudi Arabia ’s national oil company, Saudi Aramco, to its board of directors. The New York Times headline announcing the move read, “ BlackRock Forges New Ties With Big Oil ,” giving the impression […]
By Tsvetana Paraskova of OilPrice.com, China is set to import 40% more crude from Saudi Arabia under term contracts in September despite the unilateral production cut of 1 million barrels per day (bpd) of the […]
AAA reports that the average price for regular gas at the pump hit $3.825 on August 9, the highest level seen in 2023, amid growing concerns that global oil markets are undersupplied by as much […]
The implications are enormous, for global commerce, and especially for America. China straddles both worlds. It’s the world’s largest coal producer and consumer – and the second-largest fossil fuels consumer after the USA. Although the […]
OPEC+ leaders Saudi Arabia and Russia are set to keep tightening the oil market into the autumn, announcing Aug. 3 they will extend their supply cuts through at least September. Saudi Arabia will continue the […]
By Grant Smith, Bloomberg Markets Live oil reporter The biggest question in oil markets is how long Saudi Arabia will extend its 1 million-barrel-a-day supply cut. Riyadh’s handling of a previous strategy offers some guidance […]
Those who aren’t irredeemably brainwashed and sincerely aspire to understand the global systemic transition to multipolarity as it objectively exists instead of indulging in wishful thinking about it should use this unpleasant development as the […]
Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in […]
In a statement sent to Rigzone recently, Rystad Energy revealed that, according to its research, total global recoverable oil reserves now stand at 1.624 trillion barrels. Rystad highlighted in the statement that, since the company’s […]
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