06

Dec

OPEC meeting breaks up without agreement

  A meeting of the OPEC group of major oil-exporting countries broke up late Thursday without agreement on cutting production to head off pressure on prices from abundant reserves and…

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04

Dec

OPEC gearing up for deeper oil cuts

OPEC is gearing up to deepen production cuts later this week but still needs to agree with allies such as Russia over details of a deal to support oil prices…

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01

Dec

For first time in decades US is net exporter of oil 

The US has cemented its status as a net exporter in world oil markets, a sharp reversal from past years that could affect its ties to foreign allies. The top…

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30

Oct

Brent price seen within $60 to $65 next year – IEEJ

Brent crude prices are expected to be around $60 to $65 a barrel next year as any possible price hikes from geopolitical risks would be countered by ongoing trade war,…

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25

Oct

Eni production rate hits record high as third-quarter profit slumps

Italian energy group Eni racked up its highest ever production rate in the third quarter and said more was to come as net profits fell sharply on lower oil and…

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12

Oct

‘Business as usual’ for oil after Saudi attacks, oversupply looms: IEA

Global oil markets have quickly recovered from attacks on Saudi oil facilities last month and even face oversupply next year as global demand slows, the International Energy Agency said. Saudi…

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06

Oct

Iran will use any possible way to export its oil

Iran will use any possible way to export its oil, Iranian Oil Ministry’s website SHANA quoted Oil Minister Bijan Zanganeh as saying on Sunday, adding that exporting crude was the…

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23

Sep

Saudi Arabia to restore full oil output by next week

Saudi Arabia has restored around 75 per cent of crude output lost after attacks on its facilities and return to full volumes by early next week, a source briefed on…

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18

Sep

Oil price recedes on Saudi supply reassurance

Oil prices cooled on Wednesday as Saudi Arabia said the kingdom had fully restored its oil supply following attacks on its crude facilities although caution ahead of an expected U.S.…

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12

Aug

Oil prices fall amid worries about an economic slowdown

Oil prices dipped on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand. International…

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09

Aug

IEA warns oil demand growth so far in 2019 lowest since 2008

Mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis…

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05

Aug

Oil prices drop as U.S.-China trade war fuels growth concerns

Oil prices fell on Monday amid concerns about weaker crude demand after U.S. President Donald Trump said he would impose tariffs on more Chinese imports, potentially ramping up a trade…

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01

Aug

NOC reinstates force majeure on Libya’s largest oilfield “Sharara”

The Libya Observer reports that the National Oil Corporation (NOC) announced the reinstatement of force majeure on crude oil loadings at Al-Zawiya port starting on Tuesday, July 30. The NOC…

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22

Jul

Oil gains as Gulf tanker seizure raises tensions

Oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Brent crude…

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19

Jul

Oil prices rise after the U.S. Navy destroyed an Iranian drone

Oil prices rose more than 1% on Friday after the U.S. Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, again raising…

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18

Jul

Five exploratory drills over the next two years around Cyprus

Five exploratory and five confirmatory drillings in the licensed plots of the Cypriot EEZ will take place over the next two years, according to the Minister of Energy of the…

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17

Jul

Libyan oil revenue drops to 11.2%

Libya’s oil revenue dropped 11.2% to 14.3 billion dinars ($10,2 billion) in the first six months of 2019, compared with the same period last year, the Libyan central bank announced…

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19

Jun

ExxonMobil and other oil firms targeted in rocket attack in Iraq

  A rocket landed at a residential and operations headquarters of several global major oil companies, including U.S. giant ExxonMobil, near Iraq's southern city of Basra early on Wednesday, wounding…

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07

Jun

Supply vessel collides with Statfjord A Platform in North Sea

Norwegian oil and gas firm Equinor announced that it has evacuated oil workers from its Statfjord A platform in the North Sea after it was struck by a supply vessel.…

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24

Apr

No increase in Saudi Arabian oil output for now

The Financial Times is reporting that Saudi Arabia will not rapidly ramp up its oil output after the US ended the sanctions waivers for buyers of Iranian crude. This was…

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05

Apr

Saudi Arabia considering ditching dollar for oil trades

In an exclusive report, Reuters said that Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to…

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05

Mar

Force majeure lifted at the El Sharara oilfield

Libyan state oil company (NOC) announced the lifting of force majeure at the El Sharara oilfield . The decision was taken after the operating company Akakus had received written assurance…

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07

May

Oil price goes above $70 a barrel for first time in over three years

US crude oil prices have pushed above $70 a barrel for the first time in over three years as concerns have grown over supplies from Iran and Venezuela. West Texas…

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21

Apr

Oil prices are artificially Very High! – Trump

"Looks like OPEC is at it again," he wrote. "With record amounts of oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very…

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