Oil prices came under pressure on Monday, with WTI crude falling towards $45 a barrel on doubts whether OPEC and other oil-exporting countries could agree in postpone its planned production increase in January. The cartel is due to meet this week to discuss such move in the light of a …
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Crude oil futures rose over 0.6% to trade around $40.2 a barrel on Thursday, as data from the EIA showed crude oil inventories in the US dropped for the second consecutive week. The latest report from the EIA showed US crude oil stockpiles fell by 1,001 million barrels in the …
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Organization of the Petroleum Exporting Countries (OPEC) has forcasted that the downstream operations of crude oil production has come under enormous pressure due to declining demand, saying this will likely force a wave of refinery closures, especially as new capacity comes online in the Asia-Pacific and Middle East and Africa …
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The 2020 OPEC World Oil Outlook (WOO) which was launched on Monday in Vienna, Austria, has foretasted that the global oil sector will need cumulative investment of $12.6 trillion in the upstream, midstream and downstream through to 2045. The highlights from this year’s WOO noted that the outbreak of the …
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