Crude oil prices steady near multi-year highs
Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S. crude inventories and broadly shrugging off a stronger U.S. dollar.
Saudi first quarter GDP shrinks 3%, hit by oil sector decline
Saudi Arabia’s gross domestic product fell 3% in the first quarter, slightly less than official estimates and compared with a 1% contraction last year, as a sharp fall in the oil sector pulled back the economy, data showed.
Oil steady after sharp rise on improved demand picture
Oil prices were little changed on Thursday after strong gains in the previous two sessions on expectations for surging fuel demand later this year while major producers maintain supply discipline.
Biden suspends Trump-era oil and gas leases in Alaska refuge
U.S. President Joe Biden’s administration on Tuesday said it would suspend oil and gas leases that were handed out in an Alaska wildlife refuge during the final days of the Trump administration pending an environmental review.
OPEC+ seen sticking with supply plan with Iran’s oil yet to return
OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, five OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply.
Brent hits $71, highest since March, on demand prospects
Oil prices rose on Tuesday, with Brent hitting $71 and trading at its highest since March, as expectations grew for increased fuel demand during the summer driving season in the United States, the world’s top oil consumer.
Oil steady as demand optimism offsets worries of Iranian supply
Oil was steady on Wednesday, trading in a narrow range, supported by optimism about improving U.S. fuel demand and a weak dollar, but with the prospect of a return of Iranian oil to markets putting pressure on prices.
Top U.S. fuel pipeline recovering from devastating ransomware attack
After a six-day outage, the top U.S. fuel pipeline on Thursday moved some of the first millions of gallons of motor fuels to East Coast states after throwing off a crippling cyberattack. The Colonial Pipeline Co, which can carry 100 million gallons per day of gasoline, diesel and jet fuel, resumed computer-controlled pumping after adding […]
SIPEX 2021
GIPEX 2021
Guyana International Petroleum Business Summit & Exhibition will go virtual this year as GIPEX 2021 – Virtual Edition GIPEX is the largest and most influential Oil & Gas event in the Caribbean region. GIPEX brings together the entire Oil & Gas value chain including international oil companies, service providers, senior-level policymakers, investors, and other stakeholders to […]
