Economics/Statistics
News
September 02, 2021
The Organization of Petroleum Exporting Countries lifted output by 290,000 barrels a day, slightly more than stipulated by its road map for restoring output, according to a survey. Saudi Arabia and Iraq were the main drivers of the increase.
News
September 01, 2021
U.S. crude futures closed modestly higher after OPEC+’s relatively harmonious decision to gradually raise supply and a bullish U.S. oil inventory report.
News
August 31, 2021
The depreciation and uplift rules in the special tax for petroleum will be replaced by immediate expense recognition of investments, or cash flow tax, from 2022, Finance Minister Jan Tore Sanner told reporters in a snap press conference in Oslo.
News
August 31, 2021
The Texas oil refinery that Pemex is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence.
News
August 31, 2021
Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida.
News
August 27, 2021
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.
News
August 26, 2021
Endangered desert fish would get millions of dollars in federal funding, while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats.
News
August 24, 2021
Oil prices in New York gained for a second session, building on the biggest one-day gain in nine months, amid glimmers of optimism among bulls that the delta coronavirus variant’s hit to demand may be passing.
News
August 23, 2021
The U.S. is holding its largest sale of oil from strategic reserves this year at a time when the outlook for fuel demand is darkening amid the resurgent Covid-19 virus.
News
August 23, 2021
The U.S. crude benchmark climbed nearly 5% on Monday and the global benchmark Brent also advanced, rallying along with equities and other commodities. In addition to more positive sentiment in financial markets, China has made progress in containing the fast-spreading delta variant, bringing local cases down to zero.
News
August 20, 2021
Europe’s oil stocks may not be the most obvious picks in an ESG-conscious world, but some investors can’t get enough of them.
News
August 19, 2021
Oil tumbled again, dropping to the lowest level since May as the U.S. Federal Reserve signaled it was set to start tapering asset purchases within months, hurting commodities and lifting the dollar.
News
August 17, 2021
Oil fell for a fourth day, marking its longest run of losses since March, pressured by a rising dollar and economic data illustrating the U.S. recovery’s uneven path.
News
August 16, 2021
Oil sank for a third consecutive day as Chinese economic data disappointed and the spread of the delta coronavirus variant hurt prospects for global demand.
News
August 16, 2021
Woodside Petroleum is in advanced talks to buy BHP Group’s petroleum division for about A$20 billion ($14.7 billion), the Australian Financial Review reported on Sunday, citing people familiar with the matter.
News
August 13, 2021
Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried.
News
August 13, 2021
Pemex fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field.
News
August 12, 2021
The $3.5 trillion budget framework the Senate narrowly passed sets the stage for a deluge of spending on electric vehicles, renewable power and clean energy initiatives meant to help combat climate change and wean the U.S. off fossil fuels.
News
August 12, 2021
Oil steadied after a two-day advance as investors bet the global demand recovery will remain intact despite the latest wave of Covid-19 that’s led to tighter restrictions on movement in many countries.
News
August 11, 2021
The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable.
News
August 10, 2021
The world’s largest oil companies are bidding up prices for renewable energy projects, squeezing profits from wind and solar farms just as climate planning focuses more on green energy sources.
