Tag Archives: Oil Price

Independent refineries in China, often called teapots, raised their run rates in March in a positive sign for oil demand from the world’s largest importer but worry remains about the immediate outlook. The average run rate for the independents last month was 46%, Reuters reported, citing figures from Chinese energy …

Many countries worldwide rely heavily on China for the supply of their solar panels, as the world’s biggest producer of the equipment, contributing 77.8 percent of global production. Recently, there have been rising concerns over potential slavery in the supply chain due to the poor conditions faced by many Chinese …

On the eve of the first-ever Central Asia-European Union summit, Kazakhstan announced the discovery of vast deposits of rare earths, a big nugget of information clearly designed to attract foreign investment. The two-day summit kicked off on April 3 in the Uzbek city of Samarkand, with the leaders of Central …

The Iraqi Oil Ministry is calling for an urgent meeting to discuss the long-awaited and delayed resumption of oil exports from the semi-autonomous region of Kurdistan, state media reported on Friday. In February, Iraq and Kurdistan appeared to be close to agreeing on all technical and financial details about resuming …

ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of …

The world added last year the smallest coal power capacity in 20 years, but the global fleet of coal-fired plants continued to grow despite the surge of renewables, data from Global Energy Monitor’s annual survey showed on Thursday. A total of 44.1 gigawatts (GW) of coal power capacity was commissioned, …

At a time when analysts expect the global demand for aluminum to rise, a new development in China may significantly impact both aluminum market demand and the country’s internal consumption. That said, market watchers know that any announcement around metals coming out of Beijing these days also has to be …

BP said on Thursday that its Cypre development offshore Trinidad and Tobago delivered first gas, as yet another project started up since the supermajor reset its strategy to shift focus back to oil and gas. Cypre is one of BP’s 10 major projects expected to start up worldwide between 2025 …

Crude oil inventories in the United States saw a large increase of 6.2 million barrels during the week ending March 28, according to new data from the U.S. Energy Information Administration released on Wednesday. Crude oil prices were trading up prior to the crude data release by the U.S. Energy …

Global seaborne crude oil flows rose in March from February, just ahead of the supply increase coming from OPEC+ in April, oil flows tracking data by Bloomberg showed on Wednesday. Global crude exports averaged 39.92 million barrels per day (bpd) in March, up by 119,000 bpd from February levels, according …