LONDON, March 12 (Reuters) – OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, and further raised its economic growth forecast for…
Category: Oil & Gas
Is Saudi Aramco cooling on crude oil?
Don’t bet on it Has saudi arabia stopped believing in a bright future for petroleum? That is the question that in recent weeks has hung over Saudi Aramco. The desert kingdom’s national…
Freezing weather is knocking out millions of barrels of US oil output
The wintry weather that blanketed parts of Texas in snow and hammered North Dakota with extreme cold has knocked out millions of barrels of US oil production, and the industry is expected…
Europe’s energy crisis is over
LONDON, Nov 28 (Reuters) – From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases…
Regional Energy Expert Roudi Baroudi Earns Award from Washington Think Tank
Transatlantic Leadership Network Recognizes Author for Contributions to Peaceful Development in Eastern Mediterranean WASHINGTON, DC November 9, 2023: Doha-based Lebanese author Roudi Baroudi was one of two people presented with the 2023…
Bumper profits ebb at US oil giants as they tout big fossil deals
NEW YORK, Oct 28: ExxonMobil and Chevron reported lower profits Friday compared with the year-ago blowout quarter as the oil giants touted recent acquisitions they said balance economic and environmental priorities. The…
Saudi Aramco considers selling $50bn in shares
Saudi Aramco is considering selling a 2.5% stake in the company worth $50 billion, the Wall Street Journal is reporting. Mohammed Bin Salman, crown prince of Saudi Arabia, is said to be pushing the…
IEA Raises World Oil Demand Forecast In 2023 Towards All-time High
The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is “scaling record highs”. World oil demand already hit a record…
Saudi Arabia’s Oil Cut Risks Leaving Bitter Taste for Budget
Saudi Arabia’s plan to slash oil production by around 10% may hit its finances hard. Sunday’s decision, which will see the kingdom lower crude output to 9 million barrels a day next…
India’s Russian oil buying hits record high, slashes Mideast, Africa share
NEW DELHI, May 17 (Reuters) – India’s oil imports from Russia rose to a fresh record high in April, further reducing the share of Middle Eastern and African grades to their lowest…