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Stock Market Crash Puts The Brakes On Oil Rally

Stock Market Crash Puts The Brakes On Oil Rally

Monday’s stock market crash appeared…

OPEC’s Shrinking Capacity Could Send Oil Above $100

OPEC’s Shrinking Capacity Could Send Oil Above $100

OPEC’s low spare output capacity…

News

India Looks To Attract Investors With New Steel Scheme

India Looks To Attract Investors With New Steel Scheme

Jan 05, 2022 at 15:28 | Ag Metal Miner

India is trying to save some export bucks in the new year where specialty steel is concerned. In 2022, India plans to focus on increasing per…

Average Oil Price In 2021 Was The Highest In Past Three Years

Average Oil Price In 2021 Was The Highest In Past Three Years

Jan 05, 2022 at 14:30 | Charles Kennedy

A faster increase in global oil demand than growth in supply led to oil prices jumping last year, with the average Brent Crude price at $71 per barrel—the highest…

Clashes In Kazakhstan Over High Fuel Prices Continue

Clashes In Kazakhstan Over High Fuel Prices Continue

Jan 05, 2022 at 11:39 | Charles Kennedy

Unrest in oil and gas-rich Kazakhstan continued on Wednesday, even after the government resigned on Tuesday following protests over increased fuel prices. In a rare protest in tightly-controlled Kazakhstan—a major…

U.S. Overtakes Qatar To Become The World’s Largest LNG Exporter

U.S. Overtakes Qatar To Become The World’s Largest LNG Exporter

Jan 05, 2022 at 10:10 | Irina Slav

The United States became the world’s largest exporter of liquefied natural gas in December as deliveries of the superchilled fuel to energy-starved Europe surged. According to Bloomberg calculations, the…

White House Praises OPEC For Production Decision

White House Praises OPEC For Production Decision

Jan 05, 2022 at 09:25 | Irina Slav

The White House applauded OPEC+’s decision to continue adding 400,000 bpd to global supply next month as well, with Reuters reporting the administration cited “close” coordination with Saudi Arabia and…

Major Crude Draw Offset By Jump In Gasoline Stocks

Major Crude Draw Offset By Jump In Gasoline Stocks

Jan 04, 2022 at 16:04 | Julianne Geiger

This week, the American Petroleum Institute (API) estimated the inventory draw for crude oil to be 6.432 million barrels, after analysts predicted a much smaller 3.40 million barrel draw.…

EU Law Will Equip New Cars With A Device That Collects Driving Data

EU Law Will Equip New Cars With A Device That Collects Driving Data

Jan 04, 2022 at 12:53 | ZeroHedge

Starting this summer, all new cars sold in the EU will by law contain a ‘black box’ accessible by authorities that records driving data. From July 6, 2022,…

China Slashes Fuel Export Quotas By 56%

China Slashes Fuel Export Quotas By 56%

Jan 04, 2022 at 11:26 | Tsvetana Paraskova

China has considerably reduced the allowances for fuel exports in the first export quota batch for 2022, signaling its intention to limit fuel sales abroad and curb excessive refinery output. …

UK Households Face Steep Jump In Energy Prices

UK Households Face Steep Jump In Energy Prices

Jan 04, 2022 at 09:57 | Charles Kennedy

Households in the UK are facing much higher electricity prices as a result of the energy crunch, British media report, as the government prepares to adjust a cap on utility…

Germany Admits Need For Gas During Transition

Germany Admits Need For Gas During Transition

Jan 04, 2022 at 09:27 | Irina Slav

Germany will need natural gas throughout the energy transition to renewable sources, the new German government said this week. "We will need gas throughout the transitional phase," government spokesman Steffen Hebestreit said.…

Energy Prices Rose 59% In 2021

Energy Prices Rose 59% In 2021

Jan 03, 2022 at 14:36 | Julianne Geiger

Energy prices at the end of 2021 were 59% higher than they were at the beginning of the year, according to a new report by the Energy Information Administration (EIA).…

Norway Arctic Oil Drilling Ends Up In European Human Rights Court

Norway Arctic Oil Drilling Ends Up In European Human Rights Court

Jan 03, 2022 at 14:29 | Tsvetana Paraskova

The years-long battle of climate activists to have Norway stop drilling for oil in the Arctic is now at the European Court of Human Rights (ECtHR), which has requested…

Austria, Germany Slam EU For Labeling Nuclear Power, Natural Gas As Sustainable

Austria, Germany Slam EU For Labeling Nuclear Power, Natural Gas As Sustainable

Jan 03, 2022 at 12:00 | Tsvetana Paraskova

The European Commission began this weekend expert consultations over whether nuclear power and some natural gas projects can be considered “sustainable” investments, receiving immediate backlash over “green nuclear” from…

Ex Algerian Energy Minister: OPEC+ Will Not Allow Oil Price To Crash

Ex Algerian Energy Minister: OPEC+ Will Not Allow Oil Price To Crash

Jan 03, 2022 at 11:06 | Charles Kennedy

OPEC+ will not allow another collapse in oil prices such as the one we saw in the spring of 2020, Abdelmadjid Attar, former Algerian energy minister who has taken part…

India’s Diesel Demand Yet To Reach Pre-Covid Levels

India’s Diesel Demand Yet To Reach Pre-Covid Levels

Jan 03, 2022 at 09:24 | Tsvetana Paraskova

India’s demand for diesel, the most used fuel in the world’s third-largest crude oil importer, rose in December 2021 from a month earlier but was still 2 percent lower than…

Libya Oil Output Falls By 200,000 Bpd

Libya Oil Output Falls By 200,000 Bpd

Jan 03, 2022 at 08:51 | Charles Kennedy

Libyan oil production will be reduced by another 200,000 bpd this week because of urgent repairs on a pipeline, the Libyan National Oil Corporation said this weekend. The news…

Guyana Votes To Set Up Oil Wealth Fund

Guyana Votes To Set Up Oil Wealth Fund

Dec 31, 2021 at 09:09 | Tsvetana Paraskova

The Parliament of Guyana, where more than 10 billion barrels of oil equivalents have been discovered over the past half-decade, voted this week to amend its Natural Resource Fund…

China Mandates State Companies To Reduce Energy Consumption

China Mandates State Companies To Reduce Energy Consumption

Dec 30, 2021 at 09:19 | Tsvetana Paraskova

Chinese authorities have asked that state companies reduce their energy consumption and carbon dioxide emissions by 2025 compared to 2020 levels as part of China’s plan to have its CO2…

Indian State Oil Giant To Significantly Expand Oil Exploration

Indian State Oil Giant To Significantly Expand Oil Exploration

Dec 30, 2021 at 08:58 | Tsvetana Paraskova

Indian state firm Oil and Natural Gas Corporation (ONGC) plans to raise fourfold its exploration and production acreage by 2025, India’s petroleum minister said on Thursday, as the world’s third-biggest…

Saudi Arabia May Cut Oil Prices For Asia

Saudi Arabia May Cut Oil Prices For Asia

Dec 29, 2021 at 09:26 | Irina Slav

Saudi Arabia could cut the official selling price for oil to Asian buyers in February after raising them substantially this month. According to a Reuters report citing industry insiders…

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