Despite pleading with oil and gas companies to increase production in recent months, to tackle global shortages and rising prices, President Biden is once again hitting the industry hard by proposing a bigger cut emissions in operations. And he’s not alone, as the UK and EU seek to reduce gas flaring and venting practices to …
More restrictions on Biden’s oil and gas are on the horizon | OilPrice.com Read More »
WTI and Brent crude oil prices fell for a third straight session on Tuesday, with the US benchmark now at its lowest level in a year. First-month Nymex crude for January delivery closed the day -3.5% at $74.25/bbl, its lowest level in nearly a year, while February Brent crude ended at – 4% to $79.35/bbl, …
Oil markets are bearish but the decline is limited | OilPrice.com Read More »
Since the late 1990s, China has been the big beast in global oil markets, driving demand for the oil and other commodities it used to fuel double-digit economic growth every year for many years. then high single-digit growth for years. . As recently as 2017, China’s high economic growth rate still allowed it to overtake …
Lower oil prices on horizon as China enters next phase of Covid crisis | OilPrice.com Read More »
Oil prices soared on Monday morning after OPEC+ decided on Sunday to stay the course on oil production cuts ahead of the implementation of a price cap of $60 on crude oil of Russian origin negotiated by the EU, the G7 and Australia. OPEC+ previously agreed to cut production by two million bpd, or about …
Energy stocks are a big buy right now | OilPrice.com Read More »
The next few days will be one of the most crucial for the oil market in weeks, as several events and factors at the same time could determine the price trend by the end of this year and beyond. As China’s zero-Covid policy and protests against it weigh negatively on market sentiment, the OPEC+ meeting …
Next week will be critical for oil markets | OilPrice.com Read More »
The next few days will be one of the most crucial for the oil market in weeks, as several events and factors at the same time could determine the price trend by the end of this year and beyond. As China’s zero-Covid policy and protests against it weigh negatively on market sentiment, the OPEC+ meeting …
Next week will be critical for oil markets | OilPrice.com Read More »
The European Union again on Friday failed to reach an agreement over a cap on Russian oil prices, with the bloc’s easternmost members, including Poland, Estonia, Latvia and Lithuania, objecting that the proposed price of $60-70 a barrel for Russian crude is too generous and way above the rates that Russia currently sells crude. European …
China and India buy Russian crude at a 40% discount | OilPrice.com Read More »
The Middle East has steadily reaped the benefits of its oil wealth throughout 2022, arguably one of the most successful years for the region as a whole in recent history. Yet the outlook for next year is not so rosy. The global economy is in disarray, with the double whammy of a strong US dollar …
Middle East oil producers under pressure to cut prices again | OilPrice.com Read More »
This week, two documents were published by two ministries: the European Commission in Brussels and the Treasury Department in Washington. The Commission document was a proposal for “a new instrument” to limit excessive gas prices in Europe. That of the Treasury document were guidance on the implementation of a price cap policy for crude oil …
The problem of oil and gas price caps | OilPrice.com Read More »
A combination of rising Covid infections in China, uncertainty over the G7 oil price ceiling and a rise in oil inventories in the United States has driven oil prices lower this week. As oil prices climbed early Friday morning, the rise in bearish sentiment is palpable. Friday, November 25, 2022 With the oil price cap …
Bearish Sentiment Strengthens Once Again in Oil Markets | OilPrice.com Read More »
