Tag Archives: Oil Price

Uncertainty about Chinese oil demand has become the single most important bearish factor for oil. Every time analysts cite lower prices it is because of uncertainty about Chinese demand—or the potential certainty that this demand is not going higher. As the world’s largest importer of oil, the Asian powerhouse has …

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 1 to 585 this week, compared to 632 rigs this same time last year. The …

Russia has announced that it possesses more than a century’s worth of coal reserves, signaling its enduring role as a key player in the global energy landscape despite facing Western sanctions. According to Alexander Kozlov, Russia’s Minister of Natural Resources and Environment, the country’s coal reserves are estimated at an …

Back in June, the global oil market appeared poised for a resurgence, buoyed by a promising uptick in jet fuel demand. The International Air Transport Association (IATA) projected that passenger numbers would hit a record high this year, sparking hopes of a robust recovery for the beleaguered aviation sector. At …

hings have taken a bad turn for the Middle East. Asia, by far the largest demand hub for Saudi Arabia, Iraq or the United Arab Emirates, seems to be going through the same stage of weakness that Europe and the United States were in the spring. Not buying enough, depleting …

Asia is on track to import this month the highest level of LNG since January as demand grows despite rising spot LNG prices in the region. Asia’s LNG imports are expected to stand at 24.85 million metric tons in July, the highest level in six months, and higher than the …

Rare earth mineral companies in China have been stung by declining prices at the same time the government “tightens its grip” on the industry, according to Nikkei Asia. Companies like Rising Nonferrous Metals, a rare-earth miner listed in Shanghai, are losing money this year, a stark contrast to last year’s …

China has long been building inroads into Africa, while the U.S. backs down from the region, leaving a gaping hole in the West’s influence over the “final frontier”. Now, however, we’re seeing all that soft power and oil-backed loans fizzle out as various think tanks note that China is increasingly …

The U.S. Supreme Court justices declined on Monday to review a federal court’s ruling that had allowed Canadian miner Crystallex to take over shares of U.S. refiner Citgo in compensation for US$1.4 billion for the expropriation of assets in Venezuela. U.S. refiner Citgo is the crown jewel in the holdings …

Despite – or perhaps because of – the global overhang in liquefied natural gas (LNG) supplies, a weak demand profile, and ongoing uncertainty in the hydrocarbons market overall, Qatar believes that the long experience and supportive infrastructure that it has accrued in the sector since first becoming an LNG exporter …