The small Caribbean nation of Guyana is experiencing a colossal oil boom which keeps getting bigger and bigger.
South and Southeast Asia are tentatively returning to the spot LNG market as prices have dipped from record highs in August to the lowest in nearly two years.
OPEC’s crude oil production fell to 28.797 million bpd, according to OPEC’s latest edition of its Monthly Oil Market Report.
The National Petroleum Authority (NPA) is developing a framework to regulate the importation, storage, processing and marketing of bitumen in the country.
Chamber Filter Presses Market Research Report 2023-2031 market research report is an expert’s analysis that mainly includes companies, types, applications, regions, countries, etc.
The Organization of Petroleum Exporting Countries (OPEC) and fellow oil-producing allies (OPEC+) are back in the driver’s seat as U.S. shale oil is no longer the marginal fuel due to President Joe Biden’s anti-oil and gas policies.
US energy secretary Jennifer Granholm said on Wednesday that the federal government could begin buying oil to replenish an emergency stockpile later this year, “if it is advantageous to taxpayers”.
Chinese imports of crude oil surged by 22.5% year-over-year in March to the highest monthly volumes in nearly three years, since June 2020, official data showed on Thursday as refiners are increasing fuel output to meet expected rising demand after the reopening.
A tightening oil market could prompt higher prices in the second half of the year, the head of the International Energy Agency, Fatih Birol, has said.
Oil markets have rallied since OPEC+ announced that it will reduce its output further, by some 1.66 million barrels per day, bringing the cartel’s total output reduction to 3.66 million barrels daily, or 3.7% of global oil demand.