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Oil pushes past $86 as greenback wilts
Global prices for crude climbed to a nine-week high as the US dollar headed for its largest weekly fall in over a year, turning commodities into a more affordable purchase for holders of other currencies.
Jan 15, 2022 08:45
US proved oil reserves diminished by fifth
Proved oil reserves in the United States slipped 19% over the course of 2020, from 44.2 billion barrels to 35.8 billion barrels, according to fresh data from the Energy Information Administration (EIA).
Jan 14, 2022 12:39
Crude rally continues amid Kazakhstan turmoil
Global prices for crude oil saw a sharp increase on Thursday, extending the gains recorded during the previous session, as bloody unrest continues to sweep Kazakhstan, an OPEC+ oil producer.
Jan 7, 2022 09:02
Oil records biggest annual gains in 12 years
Oil posted its biggest annual rise since 2009 as the rapid Covid-19 vaccine rollout across the world stimulated the reopening of economies, boosting consumption, while oil output remains limited after the pandemic slump.
Jan 1, 2022 10:18
Major North American oil producer to end crude exports
Mexico will suspend crude oil exports in two years in a bid to focus on domestic self-sufficiency, various media have reported.
Dec 30, 2021 09:00
Iran to be repaid with tea for oil debt
Sri Lanka has announced plans to send tea to Iran to settle its debt for past oil imports. The barter will help the South Asian country avoid US sanctions for trading with Tehran and save its dwindling foreign currency reserves.
Dec 23, 2021 15:55
Energy crisis coming as global oil production set to plunge by a third
Global crude production is expected to drop 30% by the end of the current decade due to underinvestment in oil and gas, according to Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman.
Dec 15, 2021 13:40
Oil prices slip amid reports of OPEC+ reaching compromise on production boost
Crude prices fell nearly 1% on Thursday with the market bracing for a surge in supplies after reports that an output deal between the Organization of the Petroleum Exporting Countries (OPEC) and its allies has been reached.
Jul 15, 2021 08:00
IEA warns of tight global oil supply if OPEC fails to boost production
Global oil markets are about to “tighten significantly” unless the Organization of Petroleum Exporting Countries (OPEC) and its allies resolve their issues and step up production, the International Energy Agency (IEA) warns.
Jul 13, 2021 11:45

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