According to local Iraqi news…
OPEC is preparing to replace…
The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an…
The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE),
The International Energy Agency cut its crude oil demand recovery outlook for this year by 300,000 bpd to 5.5 million bpd in its latest Oil Market Report, out today.…
Russia’s flagship crude grade, Urals, has seen higher demand from European refiners, with prices rising accordingly, since Saudi Arabia announced a surprise additional production cut at the start of this…
Russia is a country of superlatives. Its energy sector is one of the most important in the world where the country shares the number one position interchangeably with the U.S.…
OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war…
Global oil demand is set to rise by 5.9 million barrels per day (bpd) in 2021 from an estimated average demand of 90 million bpd in 2020, OPEC said on…
It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few…
Airline travel will continue to suffer in the first half this year and will only recover, and jet fuel consumption with it, in the back half of 2021, when mass…
Crude oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 3.2 million barrels for the week to January 8. This compared…
One of the things that had the oil industry worried about a Biden administration was his opposition to fracking, and his promise to ban it…
WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a…
Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported, citing an Instagram post of the governor of…
India's crude oil demand last year fell for the first time in more than 20 years because of the Covid-19 pandemic, Bloomberg has reported, noting that Asia's second-biggest oil…
The U.S. removed the ban on American crude oil exports to countries other than Canada in 2015, unleashing a new force on the global oil market to be…
Like many global oil majors ExxonMobil is under considerable pressure because of the significant fallout from the COVID-19 pandemic, sharply weaker oil prices and the threat of peak…
Oil prices are rallying aggressively on the back of Saudi Arabia’s surprise cut and optimism over the rollout of vaccines across the world. News of
Saudi Arabia’s surprise announcement that it would cut 1 million barrels per day (bpd) beyond its share of OPEC+ cuts in February and March has refiners in Asia scrambling to…
Italian energy major, Eni, described 2020 as a “year of war”, regarding the energy crisis experienced in the face of a global pandemic. But it may be too…
The last year was difficult for Ecuador’s beaten-down hydrocarbon sector. Aside from the severe fallout from the COVID-19 pandemic and sharply weaker oil prices, the industry was rocked…