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Stretched oil refining sector fuels market volatility: reportGlobal oil refining capacity dropped for the first time in 20 years in 2020 and again last year, exacerbating tight markets and volatile prices for fuels such as gasoline and diesel, according to a new report. More… |
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Oil markets face uncertain future after reboundWorld oil markets have rebounded from the massive demand shock triggered by Covid-19 but still face a high degree of uncertainty that is testing the industry as never before, according to a new report from the International Energy Agency (IEA). More… |
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Saudi Crown Prince discusses oil markets stability with PutinPrince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defence, yesterday (May 28) received a phone call from Russian President Vladimir Putin. During the phone co More… |
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Oil markets tight, to rebalance over time: Adnoc CEOThe world is in unchartered territory and right now, no one can predict exactly what the global economic recovery will look like. But there are signs that oil markets have tightened in recent weeks and will rebalance over time, said Dr Sultan More… |
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Oil set to recover as coronavirus fears retreat: reportThere has been a continued moderation in new coronavirus cases and certain supply-side risks resulting a “U-shaped” recovery in oil prices, said the latest Oil Market Weekly from MUFG. The recent strength in oil prices More… |
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Oil markets hit with coronavirus concerns: BarclaysConcerns around the spread of the coronavirus, which has now infected more than 2,700 people worldwide and resulted in 82 deaths so far, have infected oil markets as well, said Barclays in a new report. Market participants, alread More… |
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Oil markets ‘need to extend output cut deal’Oil markets need to extend the crude oil production cut deal to ensure market stability and reasonable prices, said Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry. He noted that reaching an agreem More… |
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Saudi Arabia shows its ability to move oil marketsSaudi Arabia demonstrated its ability to move oil markets last week with Brent crossing $50 following comments by Oil Minister Khalid Al-Falih that the kingdom was "ready to take action", said a leading analyst. Followin More… |
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Oil market rattled by deadly Brussels blastsOil prices seesawed on Tuesday, rattled by investor nervousness after deadly blasts in Brussels prompted a flight towards so-called safe-haven assets such as gold. A suicide bomber blew himself up at Brussels airport on Tuesday ki More… |
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Oil off 2015 highs as Opec ‘won’t cut output’Oil prices fell on Thursday after hitting 2015 highs in the previous session as an Opec delegate indicated the group would stick to its strategy of pursuing market share rather than cutting output and traders took profit from a multi-week rally. More… |
