Crude oil prices started trade with a dip today, following the U.S. Energy Information Administration’s weekly report, which showed a sizable build in gasoline stocks.
In November, Asia is on track to import 26.42 million barrels per day (bpd) of crude, slightly higher compared to 26.11 million bpd in October and 26.24 million bpd in September, per the LSEG Oil Research data
The OPEC+ group has decided to move the meeting on its near-term oil production plans to December 5 from December 1, due to a scheduling conflict, OPEC said on Thursday.
As governments worldwide put increasing pressure on oil and gas companies to decarbonize, many have responded by pledging to expand their renewable energy portfolios and cut emissions in fossil fuel operations.
The UK government is set to review electric vehicle (EV) sales rules through a “fast track” consultation, following pressure from carmakers who argue that current sales targets are too ambitious given weaker-than-expected demand, according to the BBC.
Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory draw of 1.8 million barrels for the week to November 22
The 29th Conference of the Parties for Climate Change, commonly known as COP29, ended with outrage and dismay—emotions demonstrated by developing nations after developed ones agreed to raise annual climate finance but nowhere near what was asked for. But there was outrage among climate activists, too. Because, once again, the world refused to commit to a phaseout of hydrocarbons.
The fastest drawdown in gasoline inventories for this time of year since 2010 attracted managed money into the NYMEX gasoline futures, which were one bullish bet among investors in the petroleum complex.
A keen admirer of Abe, Bessent put forward the three targets of 3% economic growth, cutting the budget deficit by 3% of GDP by the end of the administration and “Three million more oil barrels equivalent a day from U.S. energy production”.
Political instability remains a major challenge for foreign energy and mining companies operating in Africa. The oil and gas multinational divestment from the Niger Delta that kicked off over a decade has now hit fever pitch, with hordes of oil and gas majors exiting the Nigerian market.