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Global oil stocks are at “worrisome” levels as waning OPEC+ spare capacity is expected to reach an alarming degree by next year amid higher crude demand outstripping supply, the head of Vitol Asia said on Feb. 6. “Demand is currently making the headlines and supply is the problem,” Mike Muller told the Gulf Intelligence daily ...
A whitepaper published by a leading regional strategic consultancy group has urged the Omani authorities to consider establishing a unifying body to help achieve a robust and...
Geopolitics has jumped ahead of market fundamentals at the beginning of 2022 as the major driver behind higher global oil and gas prices. Fears of a confrontation between the US-led NATO powers and Russia over the future of Ukraine have helped to push crude above $90/b. With concerns growing over dwindling global spare capacity, major ...
Geopolitics has jumped ahead of market fundamentals at the beginning of 2022 as the major driver behind higher global oil and gas prices. Fears of a confrontation between the US-led NATO powers and Russia over the future of Ukraine have helped to push crude above $90/b. With concerns growing over dwindling global spare capacity, major ...
Feb 2, 2022 (Bloomberg) OPEC and its allies are expected to approve another modest supply increase on Wednesday, yet new data showed the cartel still struggling to deliver on its pledges, a failure that has fanned a rally in global crude prices.The 23-nation coalition led by Saudi Arabia and Russia will…