African oil producers to readjust fuel production in line with OPEC advisory

APPO members have committed to cutting daily oil production to 10 million barrels a day, with effect from May 1 2020

US announces energy industry slowdown as demand drops

The department stated that once markets normalise, the nation would resume course to become a ‘net energy exporter’ in 2020

North Dakotan Senator calls for embargo on Russia and OPEC oil

Riyadh, Moscow and Abu Dhabi have vowed to boost oil production as of 1st April, when the current OPEC agreement to curb oil production expires

Saudi Arabia’s king replaces energy minister with one of his sons

Prince Abdulaziz bin Salman has been sworn in as the new Minister of Energy – the first time the oil portfolio has been given to a member of the royal family

The Crude Oil Outlook for 2019

Throughout 2018, many market analysts found the price of oil difficult to predict, with economic and political events confounding market expectations and leading to inaccurate predictions

Oil price hits four-year peak

Brent crude peaked at $82.20, the highest figure seen since November 2014

Global water market ‘to grow to $915bn by 2023’

It has been linked to high commodity and oil prices as well as major water quality and infrastructure plans

UN climate chief urges oil producers to join low carbon transition

Patricia Espinosa said the transformation towards a greener energy system will be critical to achieve the Paris climate targets

Oil prices to average $65 a barrel in 2018

That’s an increase on strong demand from consumers and restraint by oil producers, says the World Bank

China surpassed US as world’s largest crude oil importer

China was the largest crude oil importer last year at 8.4 million barrels per day (b/d). According to the US Energy Information Administration (EIA), “new refinery capacity and strategic inventory stockpiling combined with declining domestic oil production” were the major factors contributing to the rise. It surpassed the US, which imported 7.9 million b/d in […]