Oil

EIA: US Imports of Iraqi Crudes Hiked Last Week

The US Energy Information Administration (EIA) said on Sunday that Iraqi crude oil exports to the US rose to 188,000 barrels per day (bpd) during the past week. According to a report released by the EIA, “The United States imported crude oil from Iraq at a rate of 188,000 bpd, …

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Putin: $100 Oil is Quite Possible

It is “quite possible” that the WTI Crude oil prices reach $100 per barrel in light of growing global demand for energy commodities, Russian President Vladimir Putin said on a CNBC panel at the Russian Energy Week on Wednesday. Asked by CNBC’s Hadley Gamble whether the U.S. benchmark could hit …

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Oil Consumption to Reach Its Peak after 2025

The global demand for oil will eventually start to decline in the long-term perspective under any scenario of de-carbonization of national economies, the International Energy Agency (IEA) said in its World Energy Outlook 2021, obtained by TASS. The report offers three basic scenarios for the global energy sector, with various …

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Rising Demand Pushes Oil to Fresh Multi-Year Peaks

World oil prices vaulted Monday to fresh multi-year pinnacles on strong demand and tight supplies, fueling inflation worries and weighing on most global stock markets. The spike in energy prices saw West Texas Intermediate oil for delivery in November trading at $80.52 a barrel late Monday, its first time above …

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OPEC+ will Drive Oil Prices over Coming Months

The OPEC+ cartel’s production policy will be the main factor influencing oil prices over the coming months, according to Vitol Group. There’s little chance of Iranian barrels returning to global markets this year and U.S. shale producers aren’t investing enough to raise output quickly, according to the world’s largest independent …

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Oil Prices Rise ahead of OPEC+ Meeting

Oil prices rose on Friday as traders await a key meeting by the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, Trend reports citing Xinhua. The West Texas Intermediate for November delivery added 85 cents to settle at 75.88 U.S. dollars a barrel on the …

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OPEC+ may Stick to November Output Plans

Non-member of the Organisation of Petroleum Exporting Countries or OPEC+ is likely to stick to a deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 a barrel and pressure from consumers …

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