Tag Archives: Oil Price

Crude oil prices moved higher earlier today on anticipation that tropical storm Francine would disrupt oil and gas production in the Gulf of Mexico. News that Exxon was reportedly cutting production rates at its refinery in Baton Rouge, Louisiana, helped prices move higher. Reuters reported on Tuesday, citing unnamed sources, …

China’s natural gas in storage is nearing capacity, which could spell a decline in imports of liquefied natural gas, Bloomberg has reported, citing data releases from several regional gas storage hubs. If this year’s winter is cold, imports of LNG should remain strong because the gas in storage would be …

Saudi Arabia has long prided itself on being the lowest-cost oil producer in the world—and has taken maximum advantage of this fact. Now, with ambitious spending plans for a diversified economy, that lowest cost is becoming less relevant. It’s the breakeven cost of oil that matters. And that’s going up. …

The OPEC+ group will begin adding supply to the market in 2025, for the first time since 2022, Jim Burkhard, vice president of research at S&P Global Commodity Insights, said at the Asia Pacific Petroleum Conference (APPEC) on Monday. “We think in 2025 for the first time in a couple …

Just two weeks after lowering its Brent oil price estimate to $80 per barrel for the fourth quarter, Morgan Stanley cut again its forecast, now expecting the international benchmark to average $75 a barrel in the last quarter of the year. Analysts at Morgan Stanley see rising headwinds on the …

China’s oil demand growth has been slowing down due to weaker economic performance and a shift to electric vehicles and LNG-fueled trucks, oil industry executives said at the APPEC conference in Singapore on Monday. Right now, Chinese oil demand growth has slowed to about 200,000 barrels per day (bpd) each …

As we go into a new nuclear energy era, there are renewed concerns about what to do with the waste generated from nuclear plants. Nuclear waste is toxic and can remain radioactive for around 10,000 years, meaning that it needs to be disposed of appropriately to ensure people and the …

Oil trading giants and the national oil companies of some of the Middle East’s biggest oil producers are in the race to buy Shell’s South African service stations as they look to expand their access to downstream assets. The world’s largest oil firm and oil exporter, Saudi Aramco, the national …

In addition to the most popular renewable energy sources – solar and wind power – several countries are investing in the development of their hydropower capacity as they look to diversify their energy mix in pursuit of greater energy security. The hydropower market is valued at an estimated $251.58 billion …

The pace at which China will reduce its greenhouse gas emissions will be critical to reaching the global targets to fight climate change, Germany’s climate envoy has said. “What China decides to do in its NDC is probably the most important thing to keeping that 1.5-degree target in sight,” Jennifer …