Oil

Oil prices fell nearly $1 on Monday as concerns about fuel demand from the spread of COVID-19 variants, as well as floods in China, offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 95 cents, or 1.3%, to $73.15 a barrel by …

India is negotiating investments of between two and three billion dollars in Russian oil and gas exploration and production projects with the Russian government, the Business Standard newspaper reports, citing unnamed officials. According to the paper, the Russian government has offered several oil and gas fields to India’s natural resources …

In a report, Reuters claimed that the US intends to avert sales of Iranian oil to China as a way to keep the Islamic Republic at the negotiating table. The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran …

Nigeria is to ramp up crude oil production following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase output. Nigeria is a long time member of OPEC, collaborating with the organisation for more than 50 years running. OPEC and its allies had agreed …

Brent oil may break a support at $72.33 per barrel and fall towards $70.98, as suggested by its wave pattern and a projection analysis. The correction from the July 6 high of $77.84 is riding on a wave IV, which looks sideways. It has three component waves. The third wave …

Oil prices fell more than $1 a barrel on Monday after the OPEC+ group of producers overcame internal divisions and agreed to boost output, sparking some concerns about a crude surplus as Covid-19 infections continue to rise in many countries. Brent crude was down $1.08, or 1.5%, at $72.51 a …

Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our 2021 review deals a major blow for the size of the world’s remaining recoverable oil …

Oil prices fell by more than $1 a barrel on Thursday on expectations of more crude hitting the market after a compromise deal between leading OPEC producers and a surprisingly poor weekly reading on U.S. fuel demand, Reuters reported. Brent crude settled at $73.47 a barrel, dropping $1.29, or 1.7%. …

Oil was down Thursday morning in Asia, with a recent rally fizzling, as a build in U.S. gasoline inventories and a potential Organization of the Petroleum Exporting Countries and allies (OPEC+) agreement to increase supply clouded the black liquid’s outlook. Brent oil futures were down 0.68% to $74.25 by 1:38 …

The amount of remaining recoverable oil resources in the world is 9% lower than last year, according to a new Rystad Energy assessment, which also showed that oil production and consumption can align with future climate goals. The assessment illustrated each country’s remaining recoverable resource standing as of the beginning …