Economics/Statistics
News
June 14, 2021
Oil hit a 32-month high as the rollout of coronavirus vaccines boosted demand expectations for Europe and the U.S., and confidence faded over a quick return of Iranian crude supply.
News
June 11, 2021
Prince Abdulaziz bin Salman has battled to keep short-sellers at bay for more than a year, famously warning speculators in September not to bet against him, and more recently lambasting the view that the world should stop investing in oil to protect the climate.
News
June 11, 2021
World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the International Energy Agency said, in its first detailed outlook for the year ahead.
News
June 10, 2021
Oil consumption will climb by 5%, or about 5 million barrels a day, in the second half of 2021 versus the first as the world emerges from the pandemic slump, the Organization of Petroleum Exporting Countries forecast in a report.
News
June 10, 2021
Crude prices found support with U.S. consumer prices in May topping forecasts, extending a months-long buildup in inflation that is seen helping spur more interest in alternative assets like commodities to find yield.
News
June 08, 2021
Oil broke through a months-long trading range as expectations of tightening supplies in the U.S. compounded signs the world’s largest oil-consuming country is in the midst of a robust recovery.
News
June 08, 2021
Oil futures dropped back below $69 a barrel on Tuesday, mirroring wider markets where the dollar rose and U.S. equity futures pared gains as the recent surge in various assets brought on inflation concerns.
News
June 07, 2021
Energy giant BP sees a strong recovery in global crude demand and expects it to last for some time, with U.S. shale production being kept in check, according to CEO Bernard Looney.
News
June 07, 2021
The decline in U.S. drilling and output leaves little competition to OPEC's efforts to manage markets, Mike Muller, Vitol’s head of Asia, said during an online conference on Sunday. Brent crude closed above $70 a barrel last week for the first time in two years, as buyers demand more oil than producers are pumping.
News
June 04, 2021
Oil and gas employment has remained fairly flat in 2021 as companies have focused on reducing debt, repaying investors and focusing on research and development instead of boosting production. Employment in the sector is down 13.8% since the onset of the pandemic in March 2020.
News
June 04, 2021
Costs for everything from labor to diesel to steel have climbed in the oil field this year as explorers return to work following last year’s pandemic-driven crash in crude prices. Steel prices for the drill pipe used in new wells could rise about 50% in 2021, Citigroup said.
News
June 04, 2021
Saudi Arabia increased oil prices for customers in its main market of Asia by more than expected after crude surged above $70 a barrel and OPEC forecast that global demand would heavily outstrip supply over the rest of the year.
News
June 03, 2021
Brookfield Infrastructure Partners LP raised its hostile offer for Inter Pipeline Ltd. to C$8.4 billion ($6.9 billion) as it sought break up the company’s deal with Pembina Pipeline Corp., setting off a full-blown takeover battle for Canada’s fourth-largest pipeline company.
News
June 03, 2021
The likely return of Iranian oil is setting up what promises to be an aggressive, price-driven battle to supply a corner of the coveted Asian market.
News
June 02, 2021
Oil extended gains with signs of a recovery in demand from the U.S. to Europe stoking optimism among producers and analysts in the crude market.
News
June 01, 2021
OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global recovery.
News
June 01, 2021
A bleak assessment of Iran’s nuclear transparency cast a pall over months of arduous diplomacy aimed at restoring its atomic accord with world powers that has major implications for Middle Eastern security, global business and oil markets.
News
May 31, 2021
The coalition led by Saudi Arabia and Russia believes that the glut created during the pandemic has nearly gone, and that oil stockpiles will diminish rapidly in the second half of the year as lockdowns ease and travel gathers pace.
News
May 28, 2021
For the first time in decades, oil companies aren’t rushing to increase production to chase rising oil prices as Brent crude approaches $70. Even in the Permian, the prolific shale basin at the center of the U.S. energy boom, drillers are resisting their traditional boom-and-bust cycle of spending.
News
May 27, 2021
In the past, environmental activist investors were limited to the odd shareholder proposal, inevitably rebuffed by the boards and management teams. On Wednesday by contrast, shareholders ousted two Exxon Mobil directors seen as insufficiently attuned to the threat of climate change, while Chevron shareholders voted for a proposal to compel the company to reduce pollution by its customers.
