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Oil Market Still Far From Being Back To ‘Normal’.
Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ reaching a deal about future production lent an assist.
Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ reaching a deal about future production lent an assist.
2021/07/30 10:08
The Biden administration is making strides in reducing the United States’ dependence on fossil fuels for its energy needs. The federal government’s post-pandemic plan involves hundreds of billions in financing for renewable energy and electric vehicle projects. But it might be harder to get rid of oil and gas than some would like to believe.
2021/07/30 10:06
French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported, citing unnamed sources familiar with the matter.
2021/07/30 10:02
Brent crude futures topped $75 on Thursday morning as U.S. crude oil inventories fell to 7 percent below the five-year average, according to EIA data.
2021/07/30 09:56
About a week ago, Saudi Energy Minister Prince Abdulaziz bin Salman made waves in the oil community after telling Bloomberg News that Saudi Arabia "...is going to be the last man standing, and every molecule of hydrocarbon will come out."
2021/07/29 17:16
ExxonMobil and its partner Hess Corporation have made another significant crude oil discovery offshore Guyana, the U.S. supermajor said on Wednesday.
2021/07/29 17:14
Surging prices for plastics are likely to help Exxon's petrochemicals division post record-high earnings this week when the company reports its earnings.
2021/07/29 17:02
The Most Important Oil Project Of The Year Is Set To Go Live.Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with the first shipment of 100,000 metric tons of oil set to dock, load, and sail again within days.
2021/07/29 16:16
Crude oil prices rose today after the Energy Information Administration reported an inventory draw of 4.1 million barrels for the week to July 23.
2021/07/29 16:11
Oil prices have been ticking upwards after OPEC+ reached an agreement on Sunday that will see the group start adding 400,000 bpd production each month from August. Goldman Sachs says the agreement is modestly bullish and has forecast that Brent will hit $80 per barrel this summer. Piper Sandler says that whereas the backdrop of tighter monetary policy, the trajectory of the economic recovery, and the sustainability of inflation are likely to create some volatility curveballs, they will not be enough to derail the secular bull market.
2021/07/28 18:10
The global refining industry has not recovered yet from the impact of the pandemic, but it is already facing longer-term challenges with the energy transition.
2021/07/28 18:05
Oil Market Still Far From Being Back To ‘Normal’.
Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ reaching a deal about future production lent an assist.
Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+ reaching a deal about future production lent an assist.
The Biden administration is making strides in reducing the United States’ dependence on fossil fuels for its energy needs. The federal government’s post-pandemic plan involves hundreds of billions in financing for renewable energy and electric vehicle projects. But it might be harder to get rid of oil and gas than some would like to believe.
French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported, citing unnamed sources familiar with the matter.
Brent crude futures topped $75 on Thursday morning as U.S. crude oil inventories fell to 7 percent below the five-year average, according to EIA data.
About a week ago, Saudi Energy Minister Prince Abdulaziz bin Salman made waves in the oil community after telling Bloomberg News that Saudi Arabia "...is going to be the last man standing, and every molecule of hydrocarbon will come out."
ExxonMobil and its partner Hess Corporation have made another significant crude oil discovery offshore Guyana, the U.S. supermajor said on Wednesday.
Surging prices for plastics are likely to help Exxon's petrochemicals division post record-high earnings this week when the company reports its earnings.
The Most Important Oil Project Of The Year Is Set To Go Live.Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with the first shipment of 100,000 metric tons of oil set to dock, load, and sail again within days.
Crude oil prices rose today after the Energy Information Administration reported an inventory draw of 4.1 million barrels for the week to July 23.
Oil prices have been ticking upwards after OPEC+ reached an agreement on Sunday that will see the group start adding 400,000 bpd production each month from August. Goldman Sachs says the agreement is modestly bullish and has forecast that Brent will hit $80 per barrel this summer. Piper Sandler says that whereas the backdrop of tighter monetary policy, the trajectory of the economic recovery, and the sustainability of inflation are likely to create some volatility curveballs, they will not be enough to derail the secular bull market.
The global refining industry has not recovered yet from the impact of the pandemic, but it is already facing longer-term challenges with the energy transition.