Page 40 - Pec News Today

The European Union’s ban on Russian oil products set to come into force on February 5 could lead to a 1 million barrel per day drop in Russian crude oil output for the New Year, commodity analysts for UBS told Insider on Monday

In a world where governments and activist investors are calling for an energy transition and oil demand growth is set to slow, how should a rational oil CEO act?

After two years of lockdowns, COVID deaths, and rising sentiment and unrest, it was hoped that 2022 would bring some relief. Instead, 2022 turned out to be a d

Russia claims that it did not consult with OPEC+ over its response to the oil price cap, although it remains in contact with members.

SAUDI ARABIA’S GEOPOLITICAL SHIFT: Beijing, especially modern China, has always sought to befriend the Arabs through respectful gestures and diplomatic and trade missions. Even when Saudi Arabia refused to accept China as a country in 1975, it continued friendly efforts and eventually established diplomatic relations in the late 1990s.

Brent crude futures were up 93 cents, or 1.15 per cent, at $80.92 a barrel by 1040GMT. US West Texas Intermediate (WTI) crude futures gained 80 cents, or 1.05 per ce...

Energy minister, Prince Abdulaziz bin Salman, also said that the OPEC+ decision to cut oil output, which was heavily criticised, turned out to be the right one for supporting the stability of the market and the industry.

Reopening of Chinese economy buoys demand hopes; Rising interest rates and recession fears weigh; US to begin purchases for strategic reserve

Oil prices rose on Wednesday after Opec and the IEA both forecast a rebound in demand over the course of next year and as US rate hikes are expected to ease alongsid...

Summary:  U.S. treasuries and stocks sold off after the hotter-than-expected PPI prints which suggest inflation not cooling enough and making the wate