Crude has surged in 2022, with Brent hitting US$139, its highest since 2008, in early March as Russia’s invasion of Ukraine exacerbated supply concerns
Gas is cheaper than crude when used for a generation, but free Gas from jubilee had always been preferred due to the impact on pricing.
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.
South America’s latest oil-producing nation, the former British colony of Guyana, is continuing to lay the groundwork for its oil boom.