In a statement posted on Twitter, Jason Kenney announced that one cabinet minister, Tracy Allard, along with his chief staff will be stepping down from their posts after revelations the two traveled abroad in recent weeks. SourceContinue Reading
Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month. SourceContinue Reading
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks. SourceContinue Reading
“At the risk of being seen as a killjoy in the proceedings, I want to urge caution,” Saudi Energy Minister Prince Abdulaziz bin Salman said at the start of the group’s video conference on Monday. “The new variant of the virus is a worrying and unpredictable development.” SourceContinue Reading
The seizure follows a series of shipping security incidents in the Persian Gulf. The region and the Red Sea have been a hotbed for attacks on vessels in recent years, with tensions flaring between Saudi Arabia and Iran. SourceContinue Reading
Pakistan has become one of the top emerging markets for the super-chilled fuel in recent years as domestic gas production has plateaued, forcing the nation to import cargoes. SourceContinue Reading
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation. SourceContinue Reading
The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve. SourceContinue Reading
China’s Ministry of Commerce said the country would take necessary action to protect the rights of Chinese companies, and that it hoped the two countries could work together to create a fair and predictable environment for businesses and investors. SourceContinue Reading
National Iranian South Oil Co. and Iranian Offshore Oil Co. will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, National Iranian Oil Co. said in a statement. SourceContinue Reading
