One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back ...
Tag: Oil
A Year On From The Invasion
Authored by Simon Flowers, Chief Analyst and Chairman at Wood Mackenzie. Russia’s war has had a huge impact outside Ukraine, particularly for the global energy markets. Soaring prices and supply chain...
Starbucks CEO Howard Schultz touts new olive oil coffee
Starbucks’ new line of olive oil-infused coffee drinks could disrupt the industry, interim CEO Howard Schultz told CNBC’s Jim Cramer on Tuesday. “This is a transformational moment in...
Inside Venezuela’s Contradictory Oil Industry
A man carries buckets while working to clean up an oil spill near a pipeline of state-owned … [+] Petroleos de Venezuela (PDVSA) in Voladero, Monagas state, Venezuela, on November 5, 2021. ̵...
Russia sends record amounts of oil to China
Vladimir Putin’s regime exported record levels of oil to China last month – Sergey Guneyev, Sputnik, Kremlin Pool Photo via AP Russian exports of discounted crude and fuel oil to China jum...
Russian Oil Flows to China Hit Highest Levels Since Ukraine Invasion
(Bloomberg) — Russian exports of discounted crude and fuel oil to China have jumped to record levels as the re-opening of the world’s biggest energy importer gathers pace after the dismantling o...
Crude Oil Price Forecast – Crude Oil Markets Rally in Thin Volume
Crude Oil Prices Forecast Video for 21.02.23 WTI Crude Oil Technical Analysis The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Monday, as we have seen a lot...
Russian Oil Exports Surge With Days to Go Until Cuts Begin
(Bloomberg) — Russia’s seaborne crude exports jumped last week, with just days to go before the world’s third-largest producer is due to cut output. Most Read from Bloomberg The coun...
Oil Gains After Weekly Loss as China Recovery Competes With Fed
(Bloomberg) — Oil rose after a weekly loss on hopes that a Chinese demand rebound is picking up pace following the end of Covid Zero, outweighing hawkish signals from the Federal Reserve. Most R...
Brent crude oil price multi-timeframe technical analysis
Crude oil prices remained in a consolidation phase as the market continued reflecting on the supply and demand dynamics. Brent, the global benchmark, dropped to a low of $83.75 on Monday while the Wes...
The Overprivileged West’s Delusion Of ‘Transitioning Away From Oil’
Over 15 years in the business, easily the smartest people I’ve met in energy reside in Calgary and Toronto: “Don’t get caught up in the supply story. The demand is insatiable. It’s unstoppable. And it...
Arsenal Fans’ ‘Oil Money’ Jibe At Manchester City Has Some Murky Undertones
LONDON, ENGLAND – FEBRUARY 11: Arsenal fans hold a banner during the Premier League match between … [+] Arsenal FC and Brentford FC at Emirates Stadium on February 11, 2023 in London, Engl...
China rebound is the biggest unknown facing oil markets, IEA chief says
Fatih Birol, executive director of the International Energy Agency (IEA) at the World Economic Forum (WEF) in Davos, Switzerland. Bloomberg | Getty Images The International Energy Agency’s execu...
How Biden is wrong about the future of oil
Ten years. That’s how long President Biden gives the oil economy. He’s only wrong by a few decades. During his State of the Union speech earlier this month, Biden bashed oil companies for raking in hu...
Sanctions on Russian oil are having the ‘intended effect,’ IEA says
Russia announced that it would cut oil production by 500,000 barrels per day in March after the West slapped price caps on Russian oil and oil products. Picture Alliance | Picture Alliance | Getty Ima...
Putin has given oil a new lease of life – we’d be mad not to take advantage
Putin It’s a cliche, I know, but “stick to your knitting” has long been the best piece of advice you can give to the chief executive who, bored with the dreary old business of doing what he̵...
Oil Falls as US Looks to Sell More Supply From Strategic Reserve
(Bloomberg) — Oil fell after the close of the regular trading session on a Bloomberg News report that the US plans to sell more crude from the Strategic Petroleum Reserve, adding supplies to an ...
Oil Drops on US Plan to Sell More Oil From Strategic Reserve
(Bloomberg) — Oil fell on a US plan to sell more crude from its reserves, offsetting a lift from Russian output cuts and rising Chinese demand. Most Read from Bloomberg West Texas Intermediate d...
Not So Fast, Euro Major BP Reconsiders Pace Of Energy Transition
BP announced it had reconsidered its ambitious zero carbon goals after rising oil prices delivered … [+] strong second-quarter profits. (Photo by Matt Cardy/Getty Images) Getty Images How much c...
Cash-rich US oil producers hunt for deals after long M&A dry spell
US oil producers flush with cash after a year of bumper profits are hunting for deals as concerns grow that the shale patch’s best drilling sites are becoming more scarce, priming the sector for a wav...
Saudi Arabia And Russia Face Off Over Chinese Oil Market Share
China’s oil demand is rising with the reopening from Covid restrictions after nearly three years. The initial demand trend suggests a reopening in fits and starts, but analysts say that it will be Chi...
Big Oil raked in record profits last year, but check out Big Tech
If you think oil and gas giants made boatloads of money last year, take a look at Big Tech. In 2022, when investors were falling out of love with high-growth names, four of the U.S’s biggest tec...
Big Oil’s Big Paradox: Record Profits, Low Stock Valuations
Big Oil has never been more profitable, but it has hardly ever been a smaller part of the stock market. That’s enough to make industry executives feel unappreciated. “We’re grossly undervalued,” says ...
Permian Oil Production Could Surge By 500,000 Bpd This Year
Houston, Texas-based pipeline company Plains All American Pipeline, L.P. (NASDAQ: PAA) has predicted that Permian crude output will surge by 500,000 barrels per day in the current year. The company re...
Brent Oil Jumps Above $86 After Russia Says It Plans Output Cut
(Bloomberg) — Oil jumped after Russia said it plans to cut March production by 500,000 barrels a day. Most Read from Bloomberg Brent crude climbed as much as 2.6% in London to trade above $86 a ...
Brent crude oil price could hit $140 in 2023
Brent crude oil prices have pulled back in the past few months as investors assess the supply and demand in 2023. West Texas Intermediate was trading at $77.41 on Friday, down by about 40% from its hi...
‘Lithium Batteries Are the New Oil,’ According to Elon Musk — Here Are 2 Stocks to Take Advantage
While oil and its refined derivatives are still the mainstay of our energy economy, their prices are rising – in fact, high prices for gasoline and diesel are major drivers of the current high rates o...
Oil faces a ‘serious problem’ by 2024 as production capacity runs out, warns Goldman — here are 3 big oil stocks with yields as high as 4%
Oil faces a ‘serious problem’ by 2024 as production capacity runs out, warns Goldman — here are 3 big oil stocks with yields as high as 4% Oil prices have cooled down in recent months, but...