The head of the International Energy Agency (IEA), Fatih Birol, said on Sunday (1 May) that crude prices may have reached their lowest, providing that
Category: Oil
Saudi Aramco Plans Expansion to Become a “Global Industrial Conglomerate”
Saudi Arabia’s energy company, Aramco, the world’s biggest oil company, presented its plans to support its expansions into new areas. The plan is part of
Oil Prices Slump on Looming Saudi Arabia-Iran Production Race
Oil prices have plunged again following analysts’ warnings of a looming production race between Saudi Arabia and Iran. The news wiped out earlier price gains
Norway’s Arctic on Rise despite Challenging Oil Market Conditions
The Norwegian Arctic is making a surprising comeback on the world’s oil market as many energy companies are cutting jobs, costs and projects due to
Kuwait to Boost Oil Production Despite Strikes
Kuwait is planning to increase its oil production despite an ongoing strike by Kuwaiti oil workers. The Kuwaiti government said that it would sue, what
OPEC Fails to Agree on a Production Freeze
Yesterday’s (17 April) marathon negotiation session in Doha among the world’s biggest oil producers failed to produce an output freeze, a decision that could cause
Tumbling Non-OPEC Supply: Is Rebalancing of the Oil Market Underway?
OPEC, the organization made up of the major petrol-exporting countries, said that there was growing evidence that US production would fall and that there would
Latin American Countries Call for Oil Production Freeze
Ecuador, the smallest member of the Organization of Petroleum Exporting Countries (OPEC), said on behalf of Latin American nations that the oil-producing economies must take
Nigeria’s Oil Company Ready to Discuss “Leaks”
Nigeria’s main state-run oil company, the Nigerian National Petroleum Corporation (NNPC), admitted that it had failed to hand over billions of dollars in oil revenues
Barclays: Commodities at Risk of Steep Declines
Barclays Pls says that raw materials including crude oil and copper are very likely to experience a steep decline since the recent advances are not