• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 59 mins Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 3 hours The World is Facing a Solar Panel Waste Problem
  • 13 hours Trump Suggests Delaying Election Amid Fraud Claims
  • 12 hours Rational analysis of CV19 from Harvard Medical School
  • 12 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 8 hours The Core Issue Of US Chaos..Finally disclosed
  • 1 hour Brent above $45. Holding breath for $50??
  • 11 hours Open letter from Politico about US-russian relations
  • 12 hours China's impending economic meltdown
  • 12 hours Why Oil could hit $100
  • 7 hours Pompeo upsets China; oil & gas prices to fall
  • 11 hours Russia Trying To Steal COVID-19 Vaccine Data, Say UK, U.S. and Canada
  • 1 day End Game For Oil? OPEC Prepares For An Age Of Dwindling Demand

Saudis Raise Crude Prices To Asia In Jittery Oil Markets

Leading crude producers finally decided to reassure the markets, availing themselves of the platform of the World Energy Congress in Abu Dhabi. The new Saudi Energy Minister Abdulaziz bin Salman assured everyone that OPEC+ is here to stay “for the long term”, with other participants to the deal reiterating their support for it. Concurrently, the firing of national security adviser John Bolton has revived hopes that a deal with Iran might still be possible, feeding speculation that Teheran’s renunciation of uranium enrichment might bring some „legal” Iranian volumes back to the global market.

US commercial crude stocks have been a great support for crude prices in the past month – the week ended September 06 produced another larger-than-anticipated crude drawdown. As a consequence, global crude benchmark traded around $63 per barrel on Wednesday afternoon, whilst US benchmark WTI was assessed at $57.5-57.8 per barrel.

1. Colombia Court Upholds Fracking Ban

- Colombia’s State Council upheld a temporary ban of hydraulic fracturing in the country, creating a major roadblock for state company Ecopetrol and fracking-friendly President Iván Duque.

- Colombian environmentalists have hailed the court’s decision as they perceive fracking a major threat to the Latin American country’s water supply.

- Ecopetrol CEO Felipe Bayon warned that the decision would result in Colombia being…




Oilprice - The No. 1 Source for Oil & Energy News