Citi raises average 2025 oil price forecasts, citing geopolitical risks
Citi on Wednesday raised its oil price outlook for 2025 due to geopolitical risks centred on Russia and Iran, but noted prices were likely to ease through the second half of the year. “The oil outlook...
View ArticleHuge oil reserves discovered in central Iraq
The state-owned Iraqi Midland Oil Company said on Monday that it has discovered huge oil reserves in the East Baghdad oil field. Mohammed Yassin Hassan, director general of the company, said the new...
View ArticleGlobalData announces top M&A financial and legal advisers in oil & gas sector...
GlobalData has announced the latest updates to its Financial and Legal Adviser League Tables, which rank advisers by the total value and volume of merger and acquisition (M&A) deals they advised on...
View ArticleTrump declares an energy emergency: Will more fossil fuel extraction really...
On the first day of his Presidency, Donald Trump declared an “energy emergency”. It is part of a raft of measures to boost America’s already colossal fossil fuel production, backed up by claims that...
View ArticleHow can we overcome barriers and leverage technology to shape the future of...
Over the past two decades, services have become a dominant force in the global economy, representing about two-thirds of global output and an even higher share in high-income countries. In some...
View ArticleOil, Gas & CO2: Comfortable energy fundamentals vs growing supply risks
Call 1: Oil market to be in surplus but growing supply risks Oil prices have had a strong start to the year on the back of stricter US sanctions against the Russian energy sector and colder weather...
View ArticlePrices of Canadian, WTI crude to Asia jump after shipping rates rally,...
Prices of Canadian and U.S. West Texas Intermediate crude oil to Asia jumped after shipping costs rallied on concerns that wider U.S. sanctions on the Russian fleet are tightening ship availability,...
View ArticleU.S. crude oil inventories up last week: API
The American Petroleum Institute (API) on Wednesday reported an increase of 1 million barrels of crude oil in U.S. inventories for the week ending Jan. 17. The API reported a decline of 2.6 million...
View ArticleOil prices extend losses on uncertainty over Trump tariff impact
Oil prices dipped in Asian trade on Thursday, extending losses amid uncertainty over how U.S. President Donald Trump’s proposed tariffs and energy policies would impact global economic growth and...
View ArticleJet fuel, gasoline propel India’s 2024 oil demand; trend set to spill over...
India’s oil products demand grew by nearly 4% year over year in 2024, driven by strong demand for transport fuels and higher consumption from the infrastructure and household sectors, trends expected...
View ArticleGoldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs has raised its forecast for U.S. natural gas prices to $3.60 per million British thermal units (MMBtu) from $3.00 for 2025, reflecting tighter gas balances this winter due to...
View ArticleRussian oil refining rises as US sanctions target crude exports – sources
Russian refineries are processing more in the hope of boosting fuel exports after new U.S. sanctions on Russian tankers and traders made exports of unprocessed crude more difficult, two industry...
View ArticleBoosting gas output while keeping prices low a tough task for Trump
It may take more than a Sharpie pen and White House cheerleading to change natural gas output levels in the United States. President Donald Trump’s sweeping measures aimed at maximising U.S. oil and...
View ArticleUS crude oil inventories rise, but less than forecasted, signaling stronger...
The American Petroleum Institute (API) has reported a rise in the inventory levels of US crude oil, gasoline, and distillate stocks. The actual increase in crude inventories was 2.860 million barrels,...
View ArticleOil prices tick lower on rising US inventories, Libyan output
Oil prices dipped on Wednesday, giving up some of last session’s gains, as a rise in U.S. crude stockpiles and easing worries over Libyan supplies weighed, although potential U.S. tariffs on Canadian...
View ArticleChina’s oil, gas output exceeds 400 million tonnes for first time
China’s crude oil and natural gas output exceeded 400 million tonnes of oil equivalent for the first time in 2024, according to the National Energy Administration. The country’s crude oil and natural...
View ArticleIraq to boost oil output capacity to 7 mbpd
Projects awarded by Iraq to France’s TotalEnergies and other foreign companies over the past months will boost its oil production capacity to 7 million barrels per day (bpd) within five years, an Iraqi...
View ArticleEgypt confirms reserves of at least 8mln barrels of oil in Gulf of Suez well
Egypt on Wednesday confirmed the discovery of oil reserves of at least 8 million barrels in the East Crystal-1 well in the Gulf of Suez, the petroleum ministry said. The exploratory well was drilled by...
View ArticleTrade of the week: long WTI crude oil
Current trade overview This week, we continue to monitor our position in Tesla, maintaining a stop-loss at $373.10 despite recent price drops influenced by competitive pressures from cheaper Chinese AI...
View ArticleKazakhstan to decide on oil output cuts after OPEC+ meeting
Kazakhstan will make a final decision on oil production cuts after the next joint OPEC+ meeting, the Central Asian country’s Energy Minister Almasadam Satkaliyev said on Wednesday. Kazakhstan has...
View Article