Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.
Former U.S. oil investment bankers, portfolio managers and executives have formed over 20 listed blank-check companies to take renewable energy companies public, with more listings expected.
Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.
Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
U.S. investment bank Goldman Sachs said a recent call by the United States to OPEC+ to boost oil output is unlikely to result in higher production over the short-term given the threat to demand from the coronavirus Delta variant.
The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is slowing sharply owing to the spread of coronavirus variants.
U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.
Moves to mitigate climate change are drawing peak oil demand closer, current and former OPEC officials told Reuters, potentially giving OPEC’s biggest players and their allies more power and leaving some smaller producers struggling.
Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.
Former U.S. oil investment bankers, portfolio managers and executives have formed over 20 listed blank-check companies to take renewable energy companies public, with more listings expected.
Oil and gas producers in U.S. Gulf of Mexico have consolidated at a faster rate during the pandemic, new government data shows, as crashing prices squeezed out smaller drillers who had been seen as the industry’s future.
Oil prices fell by about 2% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indication that COVID-19 outbreaks are crimping the world’s second-largest economy.
Saudi Aramco (2222.SE) is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd’s (RELI.NS) oil refining and chemicals business for about $20 billion to $25 billion in Aramco’s shares, Bloomberg News reported on Monday.
U.S. investment bank Goldman Sachs said a recent call by the United States to OPEC+ to boost oil output is unlikely to result in higher production over the short-term given the threat to demand from the coronavirus Delta variant.
The Brent benchmark oil price fell for a second day on Friday, albeit holding above $70 a barrel, after the International Energy Agency warned that demand growth for crude is slowing sharply owing to the spread of coronavirus variants.
U.S. oil major Exxon Mobil Corp (XOM.N), along with Chevron Corp (CVX.N), is seeking to bulk up in the burgeoning renewable fuels space by finding ways to make such products at existing facilities, sources familiar with the efforts said.
Oil prices declined on Thursday after the International Energy Agency (IEA) said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand.
Moves to mitigate climate change are drawing peak oil demand closer, current and former OPEC officials told Reuters, potentially giving OPEC’s biggest players and their allies more power and leaving some smaller producers struggling.
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