Tag Archives: Oil Price

A recovering oil price drove a boost to profits for Cnooc’s operations in the UK and Ireland in 2018.

Cost uncertainty for offshore oil and gas projects around the globe could be as high as $220bn over the next four years.

In 2018. India imported the third-highest volume of crude oil by value after China and the United States.

After a prolonged oil price plunge. pushing price levels down to around $59 Brent per barrel. signs are showing that the market believes the downward trend has overshot its target.

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June.

A year ago. in the enduring twilight of one of St. Petersburg’s famous white nights of summer. Saudi Arabia and Russia reached an agreement that set a new direction for the oil market.

Increasing trade friction and potential barriers would certainly have a negative impact on the global economy and oil demand growth.

Last year. ahead of the return of U.S. sanctions against Iran. there was speculation that Washington could use crude oil from the U.S. Strategic Petroleum Reserve to cushion the blow.

Iran currently holds the most influence over crude oil price movement. followed by Russia and the United States.

The U.S.-China relationship has moved further off track over the past two weeks.