If Biden Becomes President: Iran Could Flood Oil Markets
If presumptive Democratic candidate Joe Biden wins the presidential election in November, Iran could suddenly turn from a bullish driver for oil prices into a bearish factor if it resumes…
OPEC: Second COVID Wave would slow Oil Market Recovery
OPEC may have to play its market-rebalancing act longer than initially intended as it is afraid that a second coronavirus wave would slow oil demand recovery, Reuters reported on Thursday, quoting internal…
ExxonMobil’s global qualification granted to Airborne Oil & Gas
ABERDEEN - Airborne Oil & Gas announced that ExxonMobil Upstream Integrated Solutions Company (ExxonMobil) has qualified its thermoplastic composite pipe (TCP) product for applications globally. Following a stringent and detailed…
Port blockade drags on, Libyan oil exports drop
CAIRO (Bloomberg) --Libya will export two oil cargoes totaling 1.2 million barrels in July -- a third less than in June -- as forces opposed to the Tripoli-based government continue…
Exxon pushed to an unprecedented quarterly loss by Coronavirus
HOUSTON (Bloomberg) --Exxon Mobil incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity. The explorer’s…
Rising U.S. Coronavirus Cases, Leads to Continued Oil Price Slide
SINGAPORE (Bloomberg) - Oil extended declines after swelling U.S. crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy. Futures…
Supply Cut Optimism: Oil jumps 2%
Oil prices rose on Friday but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States’ economic rebound. Crude benchmarks…
OPEC+ Cuts Effective In Reducing Oil Market Volatility
The study, OPEC's Pursuit of Market Stability, was conducted by the King Abdullah Petroleum Studies and Research Center (KAPSARC) and published by the International Association of Energy Economics. The cartel's performance…
After oil’s best month ever, these are the key levels to watch
What a difference a month makes. West Texas Intermediate crude oil rallied nearly 90% in May, its best month ever. It was a bounce back from April losses. “When I look…
Oil Sees Longest Streak of Gains in More Than a Year
(Bloomberg) -- Oil posted its longest streak of gains in more than a year, buoyed by output cuts across the globe that have whittled away at a stubborn supply glut.…