A coronavirus-fueled trading scandal is driving stricter borrowing rules and accountability standards, dramatically changing key players in the world’s oil supply trade. SourceContinue Reading
A dip in the dollar boosted the appeal of commodities such as oil that are priced in the currency. Crude was also aided by broader market strength, with equities nearing record levels following U.S. President Donald Trump’s signing of a $900 billion virus-relief package. SourceContinue Reading
The RRC reports that from November 2019 to October 2020, total Texas reported production was 1.5 billion barrels of crude oil and 10.4 trillion cubic feet of total gas. SourceContinue Reading
Crude’s shaky start to the week reflects the concern over more travel restrictions as the new mutation in the coronavirus spreads globally. However, the UK is poised to approve the Covid-19 vaccine produced by AstraZeneca Plc and the University of Oxford. SourceContinue Reading
Crude reversed losses of as much as 1.5% after President Donald Trump signed the long-awaited bill containing $900 billion of virus relief that’s expected to boost energy demand in the world’s largest economy. SourceContinue Reading
“To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Russia’s Deputy Prime Minister Alexander Novak told reporters in Moscow. “Otherwise we’ll never restore production, others will restore it.” SourceContinue Reading
Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks ago, Ahmed Moussa, a spokesman for Iraq’s electricity ministry, said in an interview. SourceContinue Reading
World Oil editors discuss The North Face doubling down on its principled stand against well-paying American jobs, Russia wants to see OPEC+ production rise in February, and U.S. land regulators shrink Alaskan oil lease acreage. SourceContinue Reading
The LNG vessel Tristar Ruby, which loaded at the Cove Point plant in Maryland, is headed for Croatia’s terminal on the Adriatic island of Krk, according to ship-tracking data on Bloomberg. The ship is scheduled to arrive on Jan. 1, the expected start date of the terminal. SourceContinue Reading
Fighters who’ve aligned with Islamic State in August have already seized the port town of Mocimboa da Praia, about 42 kilometers south of Mute, raising the stakes in a conflict that’s killed about 2,500 people and caused 570,000 to flee their homes since it started three years ago. SourceContinue Reading
