Oil Rally Gives Russia an Excuse to Delay Crucial Budget Reform
Russia was all set to tighten the screws on its own oil dependence, but the oil price spike is causing it to rethink its plan. Moscow has hit pause on…
Nigeria fast-tracks permits to revive idle oil wells, boost production
(Bloomberg) – Nigeria has slashed the time it takes to approve applications to revive idle oil wells from weeks to hours as Africa’s top crude producer seeks to take advantage…
ConocoPhillips CEO warns supply losses, infrastructure gaps will drive higher oil prices
(WO) — “You just can’t take 8-to-10 MMbpd off the market, and 20% of LNG supply, and not expect instability,” ConocoPhillips Chairman and CEO Ryan Lance said on Tuesday at…
White House Dismisses Insider Trading Claims in Oil Market
Some trading entities profited millions of U.S. dollars from trades in oil futures contracts on Monday, just 15 minutes before U.S. President Donald Trump posted about “very good and productive…
Tanker Rates for Red Sea-Loading Saudi Crude Plunge
Freight rates for tankers to ship Saudi crude from the Yanbu port on the Red Sea to Asia have slumped from the highs seen earlier this month, as more vessels…
Foreign Funds Ditch $50 Billion in Asian Stocks as Oil Shock Dims Prospects
Foreign investors are pulling the most money out of Asia’s key equity markets since the 2008 financial crisis as the oil shock from the war is ripping through Asian energy…
Outage in Australia Adds to Global LNG Crunch
Australian oil and gas producer Santos was forced on Tuesday to shut down its newly-commissioned Barossa LNG plant, temporarily shutting the Darwin LNG export plant just as the global gas…
