Despite extensive U.S. sanctions, Iran's…
In the oil rig basins…
India is at the ready to purchase more Iranian oil immediately if U.S. sanctions on Iran are lifted, a government official has threatened in the latest escalation of the India-Saudi…
OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production.
Optimism is returning to the Canadian oil industry as demand rebounds and production follows, Bloomberg has reported, citing the chief of the Canadian Association of Petroleum Producers. "There's no…
Crude oil prices fell on Wednesday after the Energy Information Administration reported a crude oil inventory draw of 3.5 million barrels for the week to April 2 along with…
Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s…
Oil investors now have to contend with another wildcard: Iran soon returning to the oil markets. After a three-year layoff, Iran could be poised to officially rejoin the ranks of…
Iranian oil potentially returning legitimately to the market will not be a shock and a complete return will not take place at least until the summer of next year, Goldman…
Oil prices gave up earlier gains and turned lower as of 11:39 a.m. EDT on Thursday, after reports emerged that Saudi Arabia was offering to gradually ease its additional unilateral…
The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how…
A large increase in Iranian oil production pushed overall OPEC oil output higher in March compared to February, the monthly Reuters survey found on Wednesday, suggesting that higher supply…
An OPEC+ panel advising the group has revised down its global oil demand forecast for 2021 by 300,000 barrels per day (bpd) in light of the renewed lockdowns in Europe…
China’s crude oil imports from Iran this month could reach close to 1 million bpd, Reuters reported today, citing trading and analyst sources. That would be almost half the…
Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed…
Despite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders…
The closure of the Suez Canal led to a moderate price rally last week, which came after a significant decline in oil prices triggered by new and stringent lockdowns in…
China and Iran officially stated they would boost their energy and political cooperation as part of a 25-year strategic partnership agreement at a time when the U.S. is looking to…
Russia, the leader of the non-OPEC group in OPEC+, favors a rollover of the alliance's oil production cuts while seeking a slight increase for itself to meet higher seasonal demand,…
The UAE potentially made history today when it sounded the starting pistol for its Murban crude oil futures, to be traded on the brand new ICE Futures…
The biggest oil companies in the world, including Big Oil, Saudi Aramco, Russia's top oil producers, and the top oilfield services providers, saw their combined revenues fall by 35.4 percent…
The U.K. has announced a ‘Landmark Deal’ to drill new wells in the North Sea securing the future of U.K. oil and saving thousands of jobs while calling…