Tag Archives: Daily Sabah

Crude inventories in the United States fell by 4.78 million barrels in the week ending Dec. 25, private data from the American Petroleum Institute (API) reportedly showed Tuesday. Meanwhile, oil reserves in Cushing, Oklahoma, rose by 131,000 barrels in the same seven-day period. Gasoline stockpiles in the U.S. declined by …

Russian energy giant Gazprom is currently in talks with its Turkish partners to carry natural gas deliveries via the TurkStream pipeline to more European markets. “We are now in talks on the issue with our Turkish colleagues,” said Elena Burmistrova, chief executive of the Russian holding’s export arm, Gazprom Export, …

A Hungarian firm announced Saturday it will join the TurkStream gas pipeline, running from Russia to Turkey. MOL said it will join the gas pipeline through Serbia. The regulator approved a 10-year development plan that includes the construction of a new Serbian-Hungarian gas inter-connector, with a capacity of 6 billion …

The number of U.S. oil-producing companies filing for bankruptcy has exceeded 200 in the first quarter of 2020, and as billions of dollars in revenue have vanished amid low oil prices, thousands of workers have also lost their jobs. Due to the coronavirus, crude oil prices last month hit their …

Saudi Arabia may have won a brief no-holds-barred oil price war with Russia, but observers say it hastened a coronavirus-led energy slump despite a subsequent historic deal to slash production. “This has changed everything,” chief economist at Abu Dhabi Commercial Bank Monica Malik told Bloomberg in an article published on …

By calling for an urgent OPEC+ meeting to discuss oil price stabilization under pressure from President Donald Trump, Saudi Arabia has admitted defeat in its price war against Russia, Mamdouh Salameh, a visiting professor of Energy Economics at ESCP Europe Business School said. In an exclusive interview with Anadolu Agency …

The group of oil producers known as OPEC+, including Saudi Arabia and Russia, are likely to agree to cut production at a meeting scheduled for Thursday as long as the United States joins in cutting output, three OPEC+ sources told Reuters. A previous production-cut deal ended last month after Russia …

Already grappling with risks from the spreading coronavirus, markets around the world found themselves opening Monday with yet another shock – Saudi Arabia firing the first shot of an oil price war. The move lead Brent crude to drop by almost a third at one point Monday, sinking the global …

Nahr Bin Omar oil field is considered one of the most controversial fields because of the pollution and gas emissions.

Turkey has consistently contested the Greek Cypriot administration'.s unilateral drilling in the Eastern Mediterranean.