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energy and resources
OPEC+ to act if global market faces oil crunch, CEO of Russia’s Gazprom Neft says
Austrian police officers stand in front of the OPEC headquarters in Vienna, Austria, June 3, 2023. REUTERS/Leonhard Foeger
on commodities
Why oil prices have been climbing
Pumpjacks draw out oil and gas from well heads near Calgary, Alta., Friday, April 28, 2023. Both traditional oil and gas stocks as well as Canada's mining and metals sector have benefited from a recent surge of investor interest in energy, new data from the Toronto Stock Exchange shows. THE CANADIAN PRESS/Jeff McIntosh
energy and resources
OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says
FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo
energy and resources
Oil dips as surprise U.S. crude stockbuild faces supply cuts
An array of pumpjacks operate Thursday, July 7, 2022, in Odessa, Texas. (Eli Hartman/Odessa American via AP)
energy and resources
OPEC sticks to oil demand growth forecasts in 2023 and 2024
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo
energy and resources
Oil jumps 2 per cent to near 10-month high as OPEC predicts tight supplies
FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. REUTERS/Stringer
energy and resources
Saudi Arabia and Russia extend voluntary oil cuts to end of the year
FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Oil giant Saudi Aramco said Sunday, March 12, 2023, it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices.(AP Photo/Amr Nabil, File)
investment ideas
Crude oil uncertainty paradoxically equals price stability
Clyde Russell
energy and resources
Oil edges up on prospect of extended OPEC+ supply cuts
FILE - In this April 24, 2015, file photo, pumpjacks work in a field in the Permian Basin near Lovington, N.M. Top officials with the largest Native American tribe in the United States are renewing a request for congressional leaders to hold a field hearing before deciding on federal legislation aimed at limiting oil and gas development around Chaco Culture National Historical Park. The Navajo Nation has struggled for years with high poverty rates and joblessness, and the tribe’s legislative leaders say individual Navajo allottees stand to lose an important source of income if a 10-mile buffer is created around the park. (AP Photo/Charlie Riedel, File)
report on business
Oil stable on prospect of extended OPEC+ supply cuts
energy and resources
Oil rises to highest in over seven months on supply worries
FILE - In this April 24, 2015, file photo, pumpjacks work in a field in the Permian Basin near Lovington, N.M. Top officials with the largest Native American tribe in the United States are renewing a request for congressional leaders to hold a field hearing before deciding on federal legislation aimed at limiting oil and gas development around Chaco Culture National Historical Park. The Navajo Nation has struggled for years with high poverty rates and joblessness, and the tribe’s legislative leaders say individual Navajo allottees stand to lose an important source of income if a 10-mile buffer is created around the park. (AP Photo/Charlie Riedel, File)
energy and resources
Crude oil settles lower as hope fades for Chinese demand
An array of pumpjacks operate Thursday, July 7, 2022, in Odessa, Texas. (Eli Hartman/Odessa American via AP)
international business
Oil prices could rise further this year, but 2024 demand to slow sharply, IEA says
FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo
energy and resources
Oil up on record demand forecast, 7th straight weekly gain
FILE - In this April 24, 2015, file photo, pumpjacks work in a field in the Permian Basin near Lovington, N.M. Top officials with the largest Native American tribe in the United States are renewing a request for congressional leaders to hold a field hearing before deciding on federal legislation aimed at limiting oil and gas development around Chaco Culture National Historical Park. The Navajo Nation has struggled for years with high poverty rates and joblessness, and the tribe’s legislative leaders say individual Navajo allottees stand to lose an important source of income if a 10-mile buffer is created around the park. (AP Photo/Charlie Riedel, File)
energy and resources
OPEC+ panel keeps policy unchanged against backdrop of stronger oil market
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina//File Photo
energy and resources
Saudi Arabia extends one million barrels per day oil cut, says it may deepen it in future
A Saudi Arabian flag flies over the consulate building in Istanbul on October 17, 2018. - Saudi Arabia's consul to Istanbul Mohammed al-Otaibion on October 16, 2018 left the Turkish city bound for Riyadh on a scheduled flight, reports said, as Turkey prepared to search his residence in the probe into the disappearance of journalist Jamal Khashoggi. (Photo by OZAN KOSE / AFP)OZAN KOSE/AFP/Getty Images
energy and resources
Oil rises 2% as Saudi Arabia and Russia keep supplies tight
FILE PHOTO: Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China December 7, 2018. REUTERS/Stringer
energy and resources
Oil settles lower despite record US crude stock drawdown
LOS ANGELES, CALIFORNIA - JULY 31: Oil pumpjacks operate on July 31, 2023 in Los Angeles, California. Crude oil prices appear to be heading for their largest monthly increase in over a year as cuts by Russia and Saudi Arabia will tighten supplies amid lowered fears of a recession. Goldman Sachs estimates that worldwide oil demand hit an all-time high of nearly 103 million barrels in July. (Photo by Mario Tama/Getty Images)
energy and resources
Oil dips on stronger U.S. dollar, profit-taking signs after rally
An array of pumpjacks operate Thursday, July 7, 2022, in Odessa, Texas. (Eli Hartman/Odessa American via AP)
energy and resources
Oil prices to drift lower as slower growth offsets OPEC+ cuts, poll shows
FILE - A worker walks near pumpjacks operating at the Kern River Oil Field in Bakersfield, Calif., Jan. 16, 2015. The oil and gas industry’s emissions are a main cause of climate change and in the past the industry undermined sound evidence that carbon greenhouse gases warm the atmosphere. (AP Photo/Jae C. Hong, File)
energy and resources
Oil settles above April peak on tighter supply
A pumpjack pumps oil in the Inglewood Oil Field as seen from the Kenneth Hahn State Recreation Area on July 13, 2022 in Los Angeles, California. - US consumer price inflation surged 9.1 percent over the past 12 months to June, the fastest increase since November 1981, according to government data released on July 13. Driven by record-high gasoline prices, the consumer price index jumped 1.3 percent in June, the Labor Department reported. (Photo by Patrick T. FALLON / AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
energy and resources
Oil prices up 2 per cent to near 3-month high on tight supply, China stimulus hopes
FILE - A worker walks near pumpjacks operating at the Kern River Oil Field in Bakersfield, Calif., Jan. 16, 2015. The oil and gas industry’s emissions are a main cause of climate change and in the past the industry undermined sound evidence that carbon greenhouse gases warm the atmosphere. (AP Photo/Jae C. Hong, File)
energy and resources
Current OPEC+ actions to support oil market are sufficient for now, UAE says
FILE PHOTO: United Arab Emirates' Minister of Energy and Infrastructure Suhail Mohamed Al Mazrouei attends a session of the Russian Energy Week International Forum in Moscow, Russia October 14, 2021. REUTERS/Maxim Shemetov/File Photo
energy and resources
Russia to cut oil exports by 2.1 million tons in third quarter, in line with pledge
FILE PHOTO: A view shows a pressure gauge near oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk
energy and resources
Russia sets plans for oil export cuts in August, sources say
FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk//File Photo
energy and resources
OPEC forecasts oil demand growth to rise 2.2% in 2024 despite headwinds
FILE PHOTO: A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger
energy and resources
Global energy demand to rise by 23% through 2045, OPEC says
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo
number cruncher
6 sustainable oil and gas dividends
For Number Cruncher column in Globe Investor/ROB only.
energy and resources
Iranian and Saudi energy ministers meet on sidelines of OPEC conference in Vienna
Iran's Minister of Petroleum Eng Javad Owji arrives at the 8th OPEC International Seminar in Vienna, Austria, on July 5, 2023. (Photo by Alex HALADA / AFP) (Photo by ALEX HALADA/AFP via Getty Images)
energy and resources
Why are OPEC+ supply cuts failing to boost oil prices?
FILE PHOTO: The OPEC logo pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria, September 28, 2016. REUTERS/Ramzi Boudina/File Photo
energy and resources
Saudi Arabia and Russia deepen oil cuts, sending prices higher
FILE PHOTO: A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo
energy and resources
Global economic growth risks to restrain oil prices this year
Active pump jacks increase pressure to draw oil toward the surface at the South Belridge Oil Field on February 26, 2022, in unincorporated Kern County, California, approximately 141 miles (227 km) northwest of Los Angeles, California. - From rural areas of the eastern states where modern oil production began to cities in southern California where pumpjacks loom not far from homes, lax regulations and the petroleum industrys boom and busts cycles have left the US pockmarked with perhaps hundreds of thousands of oil wells that are unsealed and haven't produced in decades. In a first, Washington is making a concerted effort to plug these wells by allocating $4.7 billion in federal infrastructure dollars to plug the wells in an effort to lessen the negative health and environmental impact of the disused wells. (Photo by Robyn BECK / AFP) (Photo by ROBYN BECK/AFP via Getty Images)
energy and resources
Oil prices gain 3% on bigger-than-expected decline in U.S. crude storage
FILE - A worker walks near pumpjacks operating at the Kern River Oil Field in Bakersfield, Calif., Jan. 16, 2015. The oil and gas industry’s emissions are a main cause of climate change and in the past the industry undermined sound evidence that carbon greenhouse gases warm the atmosphere. (AP Photo/Jae C. Hong, File)
energy and resources
Iran’s crude exports, oil output hit five-year highs despite U.S. sanctions
FILE PHOTO: The Iranian flag waves in front of the International Atomic Energy Agency (IAEA) headquarters in Vienna, Austria, March 1, 2021. REUTERS/Lisi Niesner/File Photo
energy and resources
Oil futures up about 3% on strong Chinese refinery data, weaker U.S. dollar
FILE - Pumpjacks work in a field near Lovington, N.M., on April 24, 2015. Land managers in one of the top oil and gas producing states in the U.S. have plugged more than 200 inactive wells on state trust lands. New Mexico officials announced Wednesday, April 19, 2023, that the cleanup costs are being shouldered by the industry as part of the State Land Office's accountability and enforcement program. (AP Photo/Charlie Riedel, File)
energy and resources
OPEC holds 2023 oil demand forecast steady despite economic growth warning
FILE PHOTO: A view of logo of the Organization of the Petroleum Exporting Countries (OPEC) at their headquarters in Vienna, Austria, June 2, 2023. REUTERS/Leonhard Foeger