Renewed lockdown measures in Europe aimed at containing a rise in COVID-19 cases appear set to push the outlook for global oil demand toward the downside, an official with the International Energy Agency said
Oil prices rose, with Brent topping $40 a barrel, after Joe Biden clinched the US presidency and buoyed risk appetite, offsetting worries about the impact on demand from the worsening coronavirus pandemic
The United States imposed fresh Iran-related sanctions targeting the Islamic Republic’s oil sector, including the Iranian Ministry of Petroleum, in Washington’s latest move to increase pressure on Tehran
U.S. crude oil and distillate inventories fell last week, while gasoline stocks rose in another weak showing for fuel demand, the Energy Information Administration said
US oil stockpiles rose last week, intensifying worries about the demand outlook at a time when traders weigh up weather-related supply disruptions, which have shut-in production in the Gulf of Mexico
Oil prices inched lower as Hurricane Laura passed the heart of the US oil industry in Louisiana and Texas without causing any widespread damage and companies began to restart operations
US crude oil stockpiles fell last week as exports soared the most in 18 months and refineries boosted production to the highest rate since March before the worst of the demand hit from the coronavirus pandemic
Saudi Arabia’s crude oil exports to China fell in July, taking it out of the top two supplier slots for the first time in two years, after a historic production cut to cope with a plunge in fuel demand and prices that was by the COVID-19 pandemic.
The Trump administration finalized a plan to allow oil and gas drilling in Alaska’s Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the pristine wilderness area before a potential change in US leadership
OPEC has managed to raise crude prices and stabilise the oil market, Iran’s oil minister said. “OPEC’s performance has been successful because the price of oil has risen from $16 in May to around $45 and has stabilized”
