OPEC on Wednesday trimmed its global oil demand forecasts for the remainder of this year and 2021, citing a weaker-than-expected economic outlook and a surge in coronavirus cases. In a close... Read more
Only 10% of global energy utility companies are expanding their renewable energy capacity at a faster rate than their gas or coal-fired capacity. That is the main finding of a study by Galin... Read more
The coronavirus pandemic has created a supply and demand crisis for oil and gas worldwide as lockdown restrictions continue to mount. The demand for oil has reduced by 23 million barrels per... Read more
Oil prices drifted lower on Thursday as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand. U.S. West Texas Intermediate (W... Read more
Oil giant Royal Dutch Shell said on Tuesday it will write down the value of its assets by up to $22 billion in the second quarter, after revising down its long-term outlook for oil and gas p... Read more
French oil company Total is expected to specify within six weeks the location of the well to be drilled by its subcontractors in Block 9 of Lebanon’s waters, Wissam Chbat, board member... Read more
Qatar’s Minister of State for Energy Affairs shared his thoughts on some of the major oil producers’ market moves in recent months, shedding disapproval on the March decision by Saudi Arabia... Read more
The U.S. Administration is holding this week an oil and gas lease sale in New Mexico while American producers curtail production in response to low oil prices and environmentalists and indig... Read more
OPEC has dramatically lowered its forecast for oil demand growth this year, citing China’s coronavirus outbreak as the “major factor” behind its decision. In a closely-watched monthly report... Read more
Oil prices rose on Friday but were still set for a fourth consecutive weekly loss, as markets attempted to assess the economic damage of the coronavirus that has spread from China to around... Read more
