OPEC sees oil's rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not rushing yet to rethink its supply-cutting agreement.
Last week oil reached a new record of $102, closing in on its inflation-adjusted peak, as a slumping dollar on lackluster US economic data triggered a surge across commodities markets.
EU To DITCH The US Dollar In Payments For Iranian Oil
Consumers, who are already being squeezed by rising interest rates (even as the return on their cash deposits remains anchored near zero), are facing another potential constraint on their already limited purchasing power.
In the days following the U.S. withdrawal from the Iran nuclear deal, Iran's European customers continue to buy Iranian oil and are in no immediate rush to replace volumes, but some refiners and traders have flagged financing issues as having the p
The price of oil is rising, which is obviously good news for those who sell it to the rest of us.
While Syria is torn apart by the warring of U.S. imperialists and Islamic fundamentalists--leaving its children to die of starvation--another country plans to take advantage of the chaos by stealing resources from Syria's southern region.
The battle for Golan Heights in Syria will soon be under way and in this video Dan Dicks of Press For Truth exposes the Genie Oil and Gas Company and everyone on their advisory board. Patreon ? http://www.patreon.com/PressForTruth Paypal ? https
Update 2: Bloomberg reports that President Trump is said to have decided to pull out of the Iran Nuclear Deal... President Trump has decided to pull out of the Joint Comprehensive Plan of Action, according to a person familiar with the decision.
With Trump having started the 6 month process of pulling out from the Iranian nuclear deal (or rather as Steven Mnuchin admitted, Trump's true intention is merely renegotiating the existing deal and "entering a new agreement") the biggest concern amo
In recent weeks, a perfect storm of nearly erased global oil glut and simmering--and at times flaring--tensions in the Middle East and the worst production loss without an armed conflict (Venezuela) have supported oil prices and boosted them to lev
Venezuela has offered India a 30-percent discount on crude oil purchases, but only if India agrees to pay in El Petro, the cryptocurrency that Venezuela is touting as the first national digital currency backed by crude oil reserves, the Indian outlet
With crude oil surging in recent weeks as a result of geopolitical tensions, including Trump's tariffs on Russia but mostly due to concerns the US president will terminate the Iran nuclear deal in two and a half weeks...
Global economy and geopolitics are underpinning the oil price surge and gas prices are going up.
ConocoPhillips is coming off of an incredible exploration season, reportedly the best they've had in over a decade, and they have Alaskan oil to thank for it. The company stuck big in the National Petroleum Reserve-Alaska (NPR-A) this winter, succe
Australia is at risk of running out of fuel in the next few weeks due to the ongoing conflict in Syria. The escalating situation in the war-torn country threatens to cripple the supply chains that keep Australia going.
OPEC's goal of draining the global inventory surplus has finally been achieved.
"I don't think its unfeasible to see triple-digit oil prices at some point this year if things really kick off in the Middle East," Anish Kapadia, founder and managing director of Akap Energy, told CNBC's "Street Signs" on Friday.
Oil prices hit new 2018 highs as missile strikes on top crude exporter Saudi Arabia added to the market's worries about escalating conflict between the United States and Russia in Syria.
ABERDEEN, S.D. – A crude oil spill from the Keystone Pipeline in South Dakota last November has turned out to be nearly twice as big as first reported.
It's an easy comparison to make: Bitcoin mining versus gold and oil extraction. All – in the abstract sense for bitcoin – involve unearthing resources, all have had bumpy price histories, and all have been labeled as disruptive in their time.
The shale oil and natural gas discovered in a deposit off the island state's west coast is understood to dwarf Bahrain's current reserves
We've Got To Keep The Oil"...Regime change advocates, neocon beltway hawks, and all the usual armchair warrior zero-skin-in-the-game think tank interventionistas are in continued meltdown mode after Trump confirmed plans to withdraw American forces
No sooner had I penned my editorial on how "The Petroyuan Was Born This Week" than the next piece of the puzzle arrived: China is set to start buying oil directly with yuan this year. You may not know it, but this could be one of the most importa
"There can be little doubt that the introduction of the yuan-denominated oil future has been a major strategic step for China."
•OPEC is seeking a 10-20 year deal to cooperate on oil output controls with Russia and other non-OPEC producers, said Saudi Crown Prince Mohammed bin Salman.
U.S. president Donald Trump has signed an executive order banning American citizens from using Venezuelan cryptocurrencies. In effect, this means that the petro, recently launched by Venezuelan president Nicolas Maduro, is now illegal in the U.S. The
Two trillion dollars: this was the price tag Riyadh put on the jewel in its crown, state oil and gas giant Aramco.
Sudden drops in Venezuelan production could cause oil price spikes and other OPEC members and Russia could cheat on the deal to cut production. There could also be more production from shale oil producers in the USA.
China will now have a direct interest in upgrading and expanding Russian oil infrastructure targeted by US sanctions