Tag Archives: World Oil

Iraq said the OPEC+ oil cartel is unlikely to change its production policy at next month’s meeting and repeated promises to deliver overdue output cuts, even as the Arab nation’s economy reels. The group of crude exporters meets on March 4 and members will probably agree to keep output steady …

Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude. OPEC’s second-biggest producer will pump around 3.6 million barrels daily for the two months, according to Ali Nizar, the deputy …

Angela Merkel said she’s willing to discuss energy ties with Moscow with the incoming U.S. administration, but the German chancellor reiterated her support for a controversial gas pipeline to Russia. “We need to also discuss which economic relations in the gas sector are possible with Russia, and which aren’t,” Merkel …

In 2020, CO2 emissions from the U.S. energy sector could be 11% lower than in 2019, according to U.S. Energy Information Administration (EIA) data through August and EIA estimates for September through December. According to values published in EIA’s December Short-Term Energy Outlook (STEO), EIA expects CO2 emissions in 2020 …

Iraq is poised to sign a multibillion-dollar contract with China ZhenHua Oil Co., a bailout from Beijing for the cash-strapped government which will receive money upfront in exchange for long-term oil supplies. The deal is the latest example of China, via state-controlled trading companies and banks, lending to struggling oil …

Exxon Mobil is about to incur the biggest write down in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets. Exxon — already hobbled by cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years, the U.S. shale boom won’t be at the top of the list. The global coronavirus pandemic continues to play havoc with the world’s economic sector, and oil prices …

OPEC’s oil ministers have a few challenges to consider at a crucial summit next week, but for the first time in years the shale boom won’t be at the top of the list. A devastating global pandemic and a reckoning with Wall Street appear to have broken the resolve of …

BP said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions. The company is a major producer in countries such as Iraq, where it operates the world’s third-largest oil field of Rumaila, the United Arab …

Saudi Arabia and Russia summoned the OPEC+ alliance for last-minute talks on Saturday, just before it’s due to decide whether to delay January’s output increase. A clear majority of OPEC+ watchers expect the group to maintain their supply curbs at current levels for a few months longer due to lingering …