AT LAST IT has jumped. For years the United Arab Emirates (UAE) chafed at restrictions that came with membership of the Organisation of the Petroleum Exporting Countries (OPEC). It had even threatened to quit; and on April 27th, in the middle of a war, it stormed out. The headquarters of the Organization of the Petroleum…
NEW YORK (AP) — A group of countries that are part of the OPEC+ alliance of oil-exporting countries has agreed to a small boost in oil production, citing a steady global economic outlook. The group said after a virtual meeting on Sunday that it will raise oil production by 137,000 barrels per day in November,…
While the world is watching the UN General Assembly discussions on Gaza-Israel, hybrid warfare in Europe (drones) and Trump, global oil markets are showing increased instability, as Ukrainian drones are destroying key oil and gas infrastructure inside of Russia. Over the last few weeks, a tsunami of reports has been published about a possible oil…
MOSCOW (Reuters) -U.S. President Donald Trump‘s demand on India to halt Russian oil imports could threaten billions in Russian revenues, prompt Moscow to retaliate by stopping a major U.S.-led oil pipeline and potentially lead to a new global supply crisis. India, the world’s third largest oil importer, has become the biggest buyer of Russian oil…
(Bloomberg) — Oil rose amid signs of tighter supplies in the near term and on stronger demand signals in the US. Most Read from Bloomberg West Texas Intermediate crude rose 1.7% to settle above $67 a barrel, snapping a three-day losing streak. Equity markets advanced — typically a bullish indicator for commodities — after better-than-expected…
Israel continues to pound Iran with air strikes as the war between the two countries enters its second week. Israel is aiming to destroy Iran’s nuclear program, and Iran has responded with barrages of missiles. But Prime Minister Benjamin Netanyahu also seems to have a broader mission, namely the weakening and potential collapse of the…