Higher oil prices are expected…
In case of further escalation,…
OPEC+ agreed on Wednesday to ease its self-imposed production cuts starting next month as the global economy slowly awakens from its deep Covid-19…
China bought up so much oil during April and May’s oil price crash that now they don’t know what to do with it all. A huge volume of…
Gasoline demand appears to be weakening in some parts of the United States, as the coronavirus continues to spread. The states hardest hit by the
The recovery in oil demand and the less-than-feared demand destruction earlier this year will support oil prices next year when producers will be playing…
Brent oil prices rose early on Monday after Saudi Arabia raised its oil price for a third consecutive month, signaling recovering demand. As of 9:26 a.m. EDT on Monday, Brent…
Oil prices hit a four-month high on Thursday, pushed higher by supply restrictions and a global rebound in demand. However, the accelerating spread of the coronavirus across the…
Oil prices fell early on Friday amid surging new coronavirus infections in the United States, which had market participants worried about the U.S. oil demand recovery trend. As of 9:20…
Goldman Sachs’ commodity analysts remain guarded about oil’s potential to rise over the near term, but in 2021, prices may start to improve, commodity chief Jeffrey Currie told Bloomberg’s Alix Steel.…
Crude oil prices are unlikely to return to three-digit levels ever again, Citigroup commodity analysts said in a note, as quoted by Bloomberg. The idea of oil at $100 or higher,…
The worst in the oil market is over, Amin Nasser, president and CEO of the world’s biggest oil company, Saudi Aramco, says, adding that he is “very optimistic” for the…
China’s state-owned oil companies—Sinopec, CNOOC, PetroChina, and Sinochem—are discussing an arrangement to buy crude oil together instead of individually, to avoid bidding wars and gain more bargaining power, unnamed sources…
For more than a week now, oil prices have consolidated around the psychologically important $40/barrel level as the worst of the recent oil price crash appears to be…
The U.S. benchmark WTI Crude jumped to $40 a barrel early on Friday with oil prices heading for a strong weekly gain, after the OPEC+ group had laggards pledge full…
Crude oil price started the week on the seesaw, with headwinds and tailwinds battling for control in a persistently unstable market situation. A spike in Covid-19 infections on the one…
The ongoing record production cuts from the OPEC+ group are set to push oil prices up to ‘normal’ levels soon, Suhail Al Mazrouei, energy minister of the United Arab Emirates…
When shale drillers in the world’s largest oil producer started shutting in oil wells that had suddenly become uneconomical, many in the industry breathed a sigh of relief.…
Despite the fact that oil posted mixed results on Friday morning, prices were set for their first weekly loss in seven weeks after a spike in coronavirus infections across the…
Barclays raised its oil price forecast for crude oil by $4 a barrel but noted that the price improvements will be slow. Reuters reports the bank now expects Brent…
The Eastern Mediterranean was one of Europe’s most closely followed drilling regions – for many years leading European politicians have espoused the idea of connecting the offshore bounties…
Oil has had a turbulent year. Crude prices went negative for the first time in history, followed by one of the biggest rallies the industry has ever seen. And now,…