With mid-term elections approaching, he desperately wants lower prices at the gas station. But his aggressive foreign policy, endeavouring to isolate the Iranian regime is pushing the oil prices higher. This leaves him with little options. He needed a scapegoat and the Organisation of Petroleum...
https://www.hellenicshippingnews.com/crude-bears-the-brunt-of-trumps-tweets/
Russia’s oil and gas companies are living through the best of times, simultaneously enjoying record production and the highest prices ever in the local currency. An index of the companies this month hit an all-time high in rubles and reached levels not seen since June 2014 in dollars. Russian crude...
https://www.hellenicshippingnews.com/russias-biggest-oil-producers-have-never-had-it-so-good/
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use, China’s Unipec said on Monday. Improved energy efficiency and technological changes, including the rise of renewables,...
https://www.hellenicshippingnews.com/world-oil-demand-refining-growth-to-peak-in-2035-unipec/
The relationship between two major oil benchmarks is charting an unexpected course as U.S. sanctions take Iranian crude out of the market. As demand for alternative Middle Eastern supply increases, regional marker Dubai crude has reason to strengthen. Yet it’s weakening against London’s Brent — an...
https://www.hellenicshippingnews.com/trumps-blow-to-iranian-oil-sparks-curious-price-divergence/
The oil market is not waiting for Godot, but for November 4, when US sanctions on Iranian oil comes into play. The supply side of the oil market is becoming tighter even before as some important consuming countries such as South Korea and Japan curtailed buying from Iran. Add to that further...
https://www.hellenicshippingnews.com/oil-markets-fixated-on-the-november-4-deadline/
The price of Brent oil climbed past $80 a barrel Monday, leaving the international crude benchmark on course to its highest close in almost four years as OPEC and its allies keep their production in check. Brent’s move comes as some analysts believe OPEC and its allies will struggle to make up for...
https://www.hellenicshippingnews.com/brent-crude-breaks-above-80-r/
OPEC is dying. President Donald Trump will probably rejoice. But he may not like what takes its place any better. For a while, in its youth, the group burned so very bright, helping members wrest control over their oil industries and stand up to foreign producers — and their governments. But now,...
https://www.hellenicshippingnews.com/opec-like-a-dying-star-is-about-to-go-supernova/
Libya’s crude oil production is currently at its highest in more than five years despite current security challenges, the chairman of the state-owned National Oil Corporation said Sunday. Mustafa Sanalla, speaking to reporters ahead of an OPEC/non-OPEC monitoring committee meeting, said that...
A new report from the U.S. Energy Information Administration (EIA) indicates that the growing shortage of pipeline takeaway capacity in the Permian Basin of West Texas and Southeast New Mexico is resulting in some companies reallocating capital initially earmarked for Permian drilling to other...
The United States military spends about $81 billion a year to protect oil supplies around the world and keep fossil fuels flowing into American gas stations, according to new analysis. Securing America’s Future Energy, a think tank that advocates for reducing U.S. dependence on oil, released the...