The executive director of the International Energy Agency spoke of the current challenges facing global oil markets on Monday, highlighting the significant influence Chinese demand could have over the next few months.
Norwegian operator Aker Energy AS has returned to rejig the development work on the Pecan field and its satellites,
in Ghana’s Deepwater Tano Cape Three Points (DWT/CTP).
China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more discounted Russian oil.
Russia’s gas giant Gazprom confirmed it had completely halted exports to Finland at 04:00 GMT on Saturday.
Oil prices fell on Friday as investors worried that weakening global economic growth and tighter central bank monetary policy could curb a recovery in fuel demand.
If the U.S. passes the NOPEC bill, a bill designed to pave the way for lawsuits against OPEC members for market manipulation, the oil market could face even more chaos.