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August 15, 2023
The average price for a gallon of gasoline in the U.S. is $3.85. That’s up nearly 30 cents from a month ago. Prices are still lower this year than they were last year due to spikes caused by Russia’s invasion of Ukraine; however, they are at their highest point this year. Factors influencing the high…
June 5, 2023
OPEC+ and Russia agreed on a new oil output deal to stabilize prices. Concerns about weak global demand, punishing speculators, rising US output, and tensions with Washington influence the decision.
May 31, 2023
The real driver behind the latest oil price selloff is the reversal of last weeks speculation that an OPEC+ cut may be coming following a thinly veiled threat by the Saudi energy minister
May 21, 2023
US Department of Energy (DOE) has confirmed that it will purchase up to 3 million barrels of oil for its Strategic Petroleum Reserve (SPR).
May 13, 2023
Saudi Arabia’s decision to postpone its Aramco trading IPO shows that the Middle East IPO boom could be reaching its zenith
April 28, 2023
Oil prices are set to rise toward $90 per barrel by the end of this year, driven by Chinese demand and a tightening market following OPEC+’s latest production cuts
April 20, 2023
Oil marketing companies' (OMCs') under-recoveries on diesel have reduced to just Re 1 per litre from the peak of Rs 40 per litre. Although OMCs have become profitable on the sale of petrol and liquefied petroleum gas with Rs 11 profit per litre of petrol, retail fuel prices are unlikely to be reduced for consumers. OMCs are still trying to recover from previous under-recovery losses with accumulative losses of Rs 27,000 crore in H1 FY23. No decision on fuel price revision is expected u...
April 11, 2023
From tighter oil supply to inflation to OPEC control over the markets, there are a number of trends this year that seem to strongly influence oil and gas markets
April 11, 2023
The price of crude oil returned on Tuesday to the recent highs seen after OPEC+ announced it would cut production by another 1.6 million barrels per day.
April 6, 2023
The latest oil production cuts announced by the OPEC+ countries underscore that President Joe Bidens reliance on foreign oil puts US security at risk, Texas Railroad Commission (RRC) Chairwoman Christi Craddick told Sputnik.