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Oil Jumps As Investors Expect Cartel To Balk At Biden’s Demands To Boost Output: OPEC+ Preview
Oil Jumps As Investors Expect Cartel To Balk At Biden’s Demands To Boost Output: OPEC+ Preview OPEC+, which meets later Thursday via video conference, has shown little signs it plans to waver from its plan to raise oil production gradually, despite pressure from senile presidents and consuming nations to temper high prices. The OPEC+ alliance’s […]
Biden says he worries that cutting oil production too fast will hurt working people
Biden says he worries that cutting oil production too fast will hurt working people President Biden spent three days in Rome talking to world leaders before and during the G-20. He held a formal press conference before heading to the UN climate summit in Glasgow. Brendan Smialowski/AFP via Getty Images President Biden said on Sunday […]
White House Putting Pressure on OPEC to Increase Oil Production Amid ‘Supply Issues,’ Rising Energy Prices
An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, on July 21, 2014. (Todd Korol/Reuters) EXECUTIVE BRANCH White House Putting Pressure on OPEC to Increase Oil Production Amid ‘Supply Issues,’ Rising Energy Prices The White House on Tuesday promised to put pressure on members of the Organization of the Petroleum Exporting Countries (OPEC) […]
Hurricane Ida Shuts Down More Than 90% of Oil and Gas Production in the Gulf of Mexico
Hurricane Ida Shuts Down More Than 90% of Oil and Gas Production in the Gulf of Mexico Experts say the oil refineries that have been shut down account for 9% of the country’s total. A gas pump with gas selling for $1.04 a gallon is shown on May 07, 2020 in Baltimore, Maryland. Photo: Rob Carr (Getty […]
OPEC+ Meeting Preview: Another 400k bpd Production Increase
OPEC+ Meeting Preview: Another 400k bpd Production Increase In today’s online meeting, OPEC+ is expected to agree to another production increase of 400,000 barrels per day, a move which is a continuation of the process of rolling back production cuts introduced in the depths of the Covid-19 crisis. The organization expects supplies to remain tight through […]
“Extremely Dangerous” – Hurricane Ida Almost Category 5 Strength As It Nears Louisiana
“Extremely Dangerous” – Hurricane Ida Almost Category 5 Strength As It Nears Louisiana Hurricane Ida has rapidly strengthened into a major hurricane with maximum sustained winds of 150 MPH, just seven mph shy of a Category 5. The storm is set to strike Louisiana later this afternoon/evening, and on the same day, 16 years ago, […]
How Much Oil Can Saudi Arabia Really Produce?
How Much Oil Can Saudi Arabia Really Produce? For decades, the true numbers relating to Saudi Arabia’s level of crude oil reserves and production have been a subject of much debate and confusion, not helped by the obfuscation from the Saudis over precisely what these numbers are. The reason for obfuscation is that Saudi Arabia’s […]
Decade Of Chaos Could Send Oil To $130 Per Barrel
Decade Of Chaos Could Send Oil To $130 Per Barrel From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading group. And it will all depend on what peaks first: demand or investment in new production. “You could […]
Oil Markets Baffled As The IEA Calls For More Production
Oil Markets Baffled As The IEA Calls For More Production In its latest Monthly Oil Report, the IEA called on OPEC+ to increase production in order to counter higher demand in 2022. The agency claimed that, based on current global economic growth expectations, demand for crude oil and petroleum products will be reaching pre-COVID levels […]
OPEC+ Will Keep A Lid On Oil Production
OPEC+ Will Keep A Lid On Oil Production OPEC+ will likely decide to keep oil production essentially steady for another month, according to four Reuters sources. Saudi Arabia and the UAE have both spoke out in favor of the need to tread lightly when it comes to how much oil is put into the market. […]
Is The World About To See An Oil Shortage?
Is The World About To See An Oil Shortage? It’s possible we could be headed for a shortfall in global oil supply as soon as next year – pretty remarkable considering where oil demand was last spring, with economies slowing under the weight of the pandemic. Based on projected rising demand, the natural production decline […]
