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Article Archive | Page 5

Bullish Goldman Sachs Expects Brent To Hit $49 By Year-End

Sep 18, 2020 at 10:02

Goldman Sachs is bullish on oil, expecting the market to be in a deficit of around 3 million barrels per day (bpd) by the fourth quarter and Brent Crude prices…

Russian Oil Minister: Global Oil Inventories Are In Decline

Sep 18, 2020 at 09:11

Global inventories of crude oil declined by 45 million barrels in August after a 34-million-barrel reduction in July, Russia’s Energy Minister Alexander Novak said in a TV interview. "Reserves…

Oversupply Adds To Grim Oil Demand Outlook

Sep 17, 2020 at 17:24

OPEC and the International Energy Agency delivered bad news for the oil market this week. Both authorities revised their oil demand forecasts for this year, and both revised…

Oil Prices Rise As Saudi Arabia Keeps OPEC Members In Check

Sep 17, 2020 at 16:59

Oil prices rose on Thursday in the third day of positive price movements for the commodity, as the market responds favorably to OPEC’s meeting chatter. WTI crude prices rose by…

Is This The Final Nail In Coal’s Coffin?

Sep 17, 2020 at 16:48

Coal headlines this summer have been uniformly doom-and-gloom, with stories like “Renewables surpass coal in US energy generation for first time in 130…

Lower Oil Production Hits Pipeline Operators Hard

Sep 17, 2020 at 15:31

Just two years ago, U.S. pipeline operators were rushing to build pipelines in Texas to move surging Permian oil and gas production to the refining and export centers…

A Wave Of Consolidations Hit Canada’s Oil Patch

Sep 17, 2020 at 14:39

A vicious one-two-three punch that started with a gloomy long-term future outlook due to rampant fossil fuel divestments, climate change policies, and decarbonization as well as shorter-term—but severe—shocks from the…

The $60 Trillion Price Tag For A World With Net-Zero Emissions

Sep 17, 2020 at 14:03

The world can achieve net-zero greenhouse gas emissions by the middle of this century for an annual investment of US$1 trillion-US$2 trillion, or up to US$60 trillion over the next…

U.S Keeps Top Crude Oil Producer Status

Sep 17, 2020 at 12:59

Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of crude oil in July, ahead…

Iraq Ships More Crude Oil Despite OPEC Output Cut Pledge

Sep 17, 2020 at 12:14

Iraq has shipped more crude oil abroad so far this month, tanker-tracking data compiled by Bloomberg showed, even though OPEC’s second-largest producer has promised time and again in recent…

The Secret To Survival For Canada’s Oil Sands

Sep 17, 2020 at 10:52

Globally, there are a multitude of different answers (and even more non-answers) to the economic puzzle of how to account for and financially balance (aka pay for) negative…

Saudis Scold OPEC+ Laggards For Trying To “Outsmart The Market”

Sep 17, 2020 at 10:03

The OPEC+ group will allow non-compliant members to take until the end of the year to compensate for their overproduction, Saudi Arabia’s Prince Abdulaziz bin Salman said on Thursday…

OPEC Warns That Second Wave Of COVID Will Derail Demand Recovery

Sep 17, 2020 at 09:12

A resurgence in Covid-19 cases in some countries could further dampen oil demand and interfere with a decline in oil inventories, Reuters has reported, citing an internal document of…

What BP Got Wrong About Global Oil Demand

Sep 16, 2020 at 17:39

Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook…

Cash-Strapped Iraq To Finally Roll Out Refinery Megaproject

Sep 16, 2020 at 17:14

Iraq’s Ministry of Oil and Ministry of Industry and Minerals held a series of meetings over the past week to kick-start the multi-billion dollar Nebras petrochemical plant development project, originally…

BP Bombshell: India’s Oil Demand May Peak In 2025

Sep 16, 2020 at 14:21

The world’s third-largest oil importer, India, will be the biggest source of energy demand growth through 2050 in any scenario about government policies about the energy transition. However, India may…

Oil Tanker Industry Is In An Ocean Of Trouble

Sep 16, 2020 at 14:04

There has been more than enough written about the woes of various segments of the oil industry and related industries so far this year. But there is one industry that…

The Nuclear Sector Gets A State-Sponsored Lifeline

Sep 16, 2020 at 13:28

The United States’ nuclear sector is in trouble. And it has been for years now. While the United States remains the largest producer of nuclear energy in the…

Can Uber And Lyft Keep Their Promise To Go Fully Electric?

Sep 16, 2020 at 12:23

Uber wants to become part of the ‘net-zero’ emissions alliance by switching over its fleet to electric vehicles. All of its rides could take place in EVs by 2030 in…

China Not Looking To Ban Gasoline Powered Cars Any Time Soon

Sep 16, 2020 at 12:12

The world’s largest automotive market, China, is dropping considerations to have a firm deadline for banning the sales of new gasoline and diesel vehicles, according to policymakers advising the government…

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