Is It Too Late To Invest In The Oil Price Rally?

Is It Too Late To Invest In The Oil Price Rally?

The oil market is currently going through one of the most turbulent periods since the infamous March 2020 collapse, as investors continue to grapple with recessionary fears. Oil prices have continued sliding in the wake of the central bank deciding to hike the interest rate by a record-high 75 basis points, with WTI futures for … Read more

4 Nations That Could Help Solve The Global Fuel Crisis

4 Nations That Could Help Solve The Global Fuel Crisis

Global refining capacity shrank during the pandemic, exposing vulnerabilities in some of the world’s largest fuel consumers. Yet the decline was not evenly distributed. Refining capacity in China, for instance, has grown. Capacity in the Middle East is growing, too. Bloomberg reported recently that Saudi Arabia, Kuwait, Oman, and Iraq were building up refining capacity, … Read more

China’s Geopolitical Pivot Could Have Huge Ramifications For Oil

China’s Geopolitical Pivot Could Have Huge Ramifications For Oil

China stated two weeks before Russia invaded Ukraine that “there is ‘no limit’ to how far Russian and Chinese friendship may go” and signed a swathe of huge oil and gas deals shortly thereafter that provided an additional layer of insulation to both countries from any US sanctions in the future. Only a day after … Read more

Europe’s Refineries Increase Russian Crude Purchases

Europe’s Refineries Increase Russian Crude Purchases

Europe’s refineries took in an increasing amount of crude oil last week, tanker tracking data compiled by Bloomberg has shown. Europe’s refineries took in 1.84 million barrels per day of Russian crude oil last week—the third increase in the amount of Russian crude for the refineries in as many weeks. The oil flows from Russia … Read more

OPEC+ Mulls What To Do After The Oil Pact Ends

OPEC+ Mulls What To Do After The Oil Pact Ends

Delegates from OPEC+ are trying to decide what to do when the oil production pact ends in August, Bloomberg reported on Friday. The pact is faced with numerous uncertainties and difficult situations—not the least of which is its relationship with one of the top members of the group—Russia. Saudi Arabia has stressed that Russia is … Read more

With No Nuclear Deal In Sight, US Slaps Extra Sanctions On Iran

With No Nuclear Deal In Sight, US Slaps Extra Sanctions On Iran

With no nuclear deal with Iran in sight, the United States Treasury has slapped additional sanctions on companies based in Iran, China and the UAE for enabling the export of Iran’s petrochemicals. On Thursday, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) implemented new sanctions on what it called “a network … Read more

Novak: Russia Is Raising Oil Production

Novak: Russia Is Raising Oil Production

Russia is raising its oil production this month compared to May and expects to further boost production in July, Russian Deputy Prime Minister Alexander Novak said on Thursday. Russia is currently seeing a significant increase in its production so far this month compared to May, an increase of around 600,000 barrels per day (bpd), Novak … Read more