Africa Might Be Oil’s Final Frontier
The COVID-19 pandemic has devastated the global economy and the oil sector was not spared. Throughout the world, explorers have suspended drilling and producers have idled wells. Even Big Oil ...
Tag: OPEC
Oil Ticks As OPEC Tells Members To Stick To Quotas
On September 18, 2020, oil prices rose for a fourth consecutive day. The surge put crude on track for a weekly gain of around 10%; after Saudi Arabia pressed allies ...
Where Will Future Demand For Oil Come From?
It has been 60 years since the OPEC was formed. Over the years, oil prices have been rising and falling to suit various market conditions. However, 2020 has been a ...
Oil Prices Fall In The Wake Of Saudi Arabia’s Ominous Signal
The oil market is once again plunging as demand fears ripple through space. On September 8, US oil prices lost 7% to trade at $36.76 a barrel. That was crude’s ...
Oil Price Might Sink In the Near Term
As the booming summer driving season fades away rapidly, oil markets are now taking on a uniquely chilly air. The recovery in oil demand has now stalled at the same ...
Oil Prices Rise On US Agreement To COVID-19 Plasma Treatment
Oil has been one of the worst-hit sectors by the rapid spread of COVID-19 since March. However, the industry has benefited after US President Donald Trump made a groundbreaking announcement. ...
Oil Prices Rise As OPEC+ Promises Strict Compliance
On August 21, Brent crude oil prices surged after OPEC+ reassured the global market that it plans to strictly cut its cumulative oil production. It plans to cut production by ...
Arab Countries Must Seek Other Wealth As Oil Is Too Cheap To Balance Books
Faced by warlords, bandits, and rapid smallpox spread, one British geologist, George Bernard Reynolds searched for oil in the sands of Persia which is now Iran. After drilling for seven ...
Oil Prices Surge Despite New Covid-19 Worries
On June 26, oil prices surged as traders showed some reserved positivity in the day’s Asian session. Even though the oil prices experienced some modest gains, the contracts retreated slightly ...
Oil Plunges As Coronavirus Cases Rise Globally
On June 22, the oil prices dropped significantly as worries grew that a record surge in global COVID-19 infections may plague the recovery in fuel demand. That factor was seen ...
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