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Energy / Crude Oil

Libya To Resume Oil Exports After Lifting Force Majeure

Jul 19, 2022 at 10:00 | Charles Kennedy

Libya will begin loading oil for export on July 20 after the force majeure was declared lifted following an intense battle for control of the National Oil Company…

Are OPEC And The IEA Right About What’s Next For Oil?

Jul 19, 2022 at 07:48 | Stuart Burns

Both OPEC and the International Energy Agency are predicting next year’s market to be one of the tightest in recent history. According to a Financial Times

Keystone Force Majeure Cuts Oil Flows To U.S.

Jul 19, 2022 at 07:44 | Tsvetana Paraskova

TC Energy, the operator of the Keystone Pipeline, declared force majeure on Monday following a power outage in South Dakota, which reduced the flows on the link carrying crude…

Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Jul 18, 2022 at 09:54 | Tsvetana Paraskova

Western sanctions have so far failed to crush Russia’s oil exports as Moscow is redirecting crude to its more than willing Asian buyers, China and India. 

China’s Fuel Exports Plunge

Jul 18, 2022 at 08:49 | Charles Kennedy

China’s exports of gasoline and diesel slumped in the first half of 2022, per customs data out on Monday, as Chinese authorities continued to work to reduce overseas sales of…

Biden Advisor Sees OPEC+ Raising Oil Production

Jul 18, 2022 at 08:37 | Tsvetana Paraskova

The United States believes that OPEC’s Middle Eastern producers have room to boost production and will take “a few more steps” to boost supply to the oil market soon, according…

Saudi Arabia Reveals Oil Production Capacity Limits

Jul 18, 2022 at 08:18 | Tsvetana Paraskova

Saudi Arabia, the world’s top crude oil exporter, will not have additional capacity to increase production above the 13 million barrels per day (bpd) it has pledged to have by…

Biden Fails To Secure Firm Pledge From Saudis For Oil Production Boost

Jul 18, 2022 at 07:45 | Tsvetana Paraskova

U.S. President Joe Biden returned to Washington from a trip to the Middle East without receiving a specific commitment from the top OPEC producers to boost oil supply to the…

Is This The Only Way To Curb Russian Oil Revenues?

Jul 15, 2022 at 08:15 | Tsvetana Paraskova

The West is looking to cap the price of Russian oil with the double goal of restricting Putin’s oil revenues while lowering energy bills for the biggest oil-consuming…

Could Russia Avoid Sanctions With Its Own Oil Benchmark?

Jul 15, 2022 at 08:05 | Tsvetana Paraskova

Russia plans to create its own national oil benchmark in 2023 as a means to protect its oil export revenue while the West is stepping up sanctions against Russian oil,…

Oil Prices Plunge 4% As Market Braces For Oversized Interest Rate Hike

Jul 14, 2022 at 10:03 | Tsvetana Paraskova

Oil prices plunged early on Thursday amid expectations of a large Fed rate hike at the end of the month and signs of weakening U.S. gasoline demand as prices remain…

Who Really Controls The World’s Oil Reserves?

Jul 14, 2022 at 08:47 | Irina Slav

Big Oil majors in the United States have found themselves the target of much pressure to boost production lately, as prices go wild amid a tight—and tightening—market. At…

IEA Slashes Oil Forecast As Demand Destruction Looms Over The Market

Jul 13, 2022 at 09:24 | Tsvetana Paraskova

Global oil demand is expected to rise by 1.7 million barrels per day (bpd) this year compared to 2022, the International Energy Agency (IEA) said on Wednesday, revising down…

Why Biden Could Come Back From Saudi Arabia Empty Handed

Jul 12, 2022 at 14:51 | Tsvetana Paraskova

As U.S. President Joe Biden travels on his first visit to the Middle East this week, he and his team will make the case for the need for…

Has Saudi Arabia Reached Peak Oil Capacity?

Jul 12, 2022 at 11:02 | ZeroHedge

Use it or lose it – this principle might apply to Saudi Arabia’s oil production capacity that is now eyed by the Western world to fill the Russia-sized…

Hedge Funds Are Unloading Oil Futures In A Hurry

Jul 12, 2022 at 09:45 | ZeroHedge

Investors dumped petroleum-related derivatives last week at one of the fastest rates of the pandemic era as recession fears intensified. Hedge funds and other money managers sold the equivalent of…

Iran Moves To Expand Supergiant Oilfield Amid Global Crude Crisis

Jul 11, 2022 at 11:33 | Simon Watkins

A principal strategy being used by Iran to pressure the U.S. into dropping the conditions required for a new iteration of the Joint Comprehensive Plan of Action (JCPOA)…

Russia’s Plan To Cut Off Kazakh Oil Supplies To Europe

Jul 11, 2022 at 11:29 | Tsvetana Paraskova

The European oil market just received another supply shock ahead of the looming EU embargo on seaborne Russian oil imports. A Russian court has ordered the closure of…

Soaring Prices Have Led To An Uptick In Oil Theft In Colombia

Jul 11, 2022 at 11:25 | Matthew Smith

A notable increase in lawlessness, corruption and violence, fueled by record cocaine production and heightened poverty, has marred the four-year term of outgoing Colombian President Ivan Duque. Not…

Explaining The Disconnect Between Physical And Paper Oil Markets

Jul 08, 2022 at 10:44 | Alex Kimani

A couple of days ago, Saudi Arabia shocked oil punters after it hiked oil prices for its biggest market, Asia, in the middle of one of the biggest…

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