OPEC+ agrees on not changing oil policy and production
At a meeting on Sunday, OPEC+ agreed to stick to its oil output targets as the oil markets struggle to estimate the impact of a slowing Chinese economy on demand…
Crude-Oil prices surges on China COVID-Ease, Fed Pivot talk
Sensing that it was probably overreacting with COVID lockdowns while the rest of the world had moved on with the pandemic, top crude-oil importer China said Tuesday that it was…
BP beats estimates to post bumper profit of $8.2 billions
Due to high commodity prices and active gas marketing and trading, oil and gas major BP on Tuesday posted third-quarter profits that were greater than anticipated. The British energy giant…
Crude oil prices falls as US increases reserves
Oil prices dipped on Wednesday as industry data revealed that US oil reserves climbed more than expected, but supply concerns capped losses. Brent crude futures for December slid $1.03, or…
India-Saudi Arabia to use undersea cables for renewable energy projects
Saudi Arabia is constructing a deep-sea cable to connect India in order to develop a sustainable energy system between the Middle East and South Asia. According to The Economic Times,…
Crude Oil prices remains stable as recession fears offset upbeat Chinese indications
Crude oil prices stayed unchanged on Monday, as concerns that soaring inflation and energy expenses pushed the global economy into recession were offset by China’s sustained loose monetary policy. Brent…
EU might ban shipping Russian crude oil as part of price capping
According to people familiar with the situation, the European Union (EU) is considering adding shipping limitations to its oil sanctions as the group continues to explore the implementation of a…
India enters into crude oil supply agreement with Petrobras
In a landmark event to diversify crude oil sourcing for energy security in India, Bharat Petroleum Corporation Limited (BPCL), a “Maharatna” and Fortune Global 500 company, signed a Memorandum of…
Crude Oil demand-prices analysis
WTI Crude oil futures concluded the previous week 2.34% down at $84.76 per barrel as demand concerns resurfaced. A strong dollar also pushed down energy prices by making commodities more…
Oman crude oil and prices updates
Asia’s increasing reliance on Middle Eastern crude, along with the futurization of oil markets, has increased the demand for dependable sour crude futures contracts. Oman has maintained political stability for…