Investment bank Goldman Sachs says there will be no immediate major effect on near-term oil market inventories related to the terrorist attacks on Israel on Friday. Goldman Sachs has, however, added that the attacks lower the likelihood of normalization of Israel’s relations with Saudi Arabia, which would likely have boosted Saudi production over time.
Given the enormous ground that the U.S. literally and metaphorically lost in the Middle East in recent years, any strategy it attempted to regain some or all its previous influence across the region had to be clever, concerted, and multi-layered, and so it is transpiring to be.
The American Petroleum Institute (API) released new analysis that outlines the potential consequences of new vessel restrictions on American oil and gas workers in the U.S.
The oil and gas industry should not be stigmatised in the climate debate and the sector has a role to play for an orderly energy transition, Reuters reported, quoting Opec leaders attending a climate event in Saudi Arabia.
The most effective way to bring Africa’s oil and gas resources to market is through a quick, efficient partnership approach – as the West African nation has proved.
The total number of active drilling rigs in the United States fell by 4 this week, after falling 7 last week, according to new data from Baker Hughes published Friday.
President Biden has once again reduced oil and gas leasing after focusing on ramping up production from exciting oilfields in the last couple of years.
Low distillate inventories in the United States have tightened the diesel market during the harvest season and ahead of the winter heating season. Diesel and heating oil supply could become even tighter and pricier if U.S. manufacturing activity returns to growth soon.
Last week, OPEC+ decided to keep current oil production cuts in effect until the end of the year.
The Ministry of Energy said on Wednesday that Islamabad was ascertaining facts after Russia’s embassy in the country tweeted that Moscow had made its first Liquefied Petroleum Gas (LPG) delivery to Pakistan.