Page 78 - Pec News Today

Based on the average price of $70 a barrel for Opec’s crude basket, 800,000bpd in lost output — about half Britain’s daily consumption — equates to about $21 billion...

Stocks of oil in some of the world's top economies have fallen to their lowest levels in almost a decade and a drive to refill them could nudge oil toward $100 a barrel. Oil has rallied from a pandemic low of around $16 to nearly $92 on Friday as the global economy recovers from the pandemic and the Omicron variant of the coronavirus has little impact. However, just when

Many analysts expect the grouping, including Saudi Arabia and Russia, to decide to continue to boost output by 400,000 barrels per day in March.

As oil prices climb due to geopolitical concerns and a tightening market, demand destruction and interest rate hikes may soon hit

Oil prices fell Thursday as investors cashed in profits from the 2 per cent gains in the previous session after the US Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets. Futures pulled back amid a broader decline in financial markets triggered by the March interest rate increase telegraphed by the Fed and a

Inflation is on the rise, and it could drive oil supplies into the danger zone, creating a disastrous situation for consumers across the globe

NEW YORK (AP) — Anyone whos bought food, paid rent or looked for a used car recently...

NEW YORK (AP) — Anyone whos bought food, paid rent or looked for a used car recently...

TRIPOLI, Libya (AP) — The head of Libya’s national oil company said on Wednesday that...

Tightening supply and rebounding demand could push oil prices to $100 well before analysts predicted originally