Macroeconomic factors continue to weigh on oil prices this week, despite the insistence of OPEC+ members that the group’s production cuts will tighten the oil market.
Novak: “The timely actions of OPEC+, thanks to which about 2.2 million barrels per day will be held off the market in the first quarter of next year, will allow the period of low demand to pass painlessly in the first quarter of 2024,”.
With funding from the National Academies of Sciences, Engineering, and Medicine, the Argonne National Laboratory will explore using a method known for analyzing nuclear systems to enhance safety in offshore oil and gas operations in the Gulf of Mexico.
President Nicolas Maduro announced annexation of Essequibo and mobilized army at the border
COP28 president Sultan Ahmed Al Jaber speaks during a meeting at the United Nations climate summit in Dubai on December 2, 2023. The COP28 conference opened on December 1 with an early victory as nations agreed to launch a “loss and damage” fund for vulnerable countries devastated by natural disasters.
A new report by the Centre for Research on Energy and Clean Air claims that the G7 price cap has failed to live up to its potential.
When we talk of the Israeli-Palestinian conflict, we tend to focus on the latter’s political, social and humanitarian dimensions. But often this comes at the expense of considering an important economic dimension — one which recent events in Gaza have brought into stark relief.
In the first nine months of 2023, revenues have been depleted in large part as a result of Western sanctions.
Nigeria intends to reduce its flare gas volume by 500mmscfd and curb current carbon emission by as much as 6 million tonnes through the ongoing Nigerian Gas Flare Commercialisation Programme (NGFCP), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has said.
SINGAPORE, Dec 5 (Reuters) – Oil prices held steady on Tuesday amid uncertainty over voluntary output cuts by OPEC+ and as continued tension in the Middle East spurred supply concern.
Brent crude futures LCOc1 edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures CLc1 were up 18 cents at $73.22 a barrel.