Algeria, Iran, Iraq and Libya were counted among the biggest gas flarers globally
Gas flaring – the combustion of unwanted natural gas produced during oil recovery – is losing many oil-producing countries up to $82bn*, according to GlobalData. The data and analytics company notes that, even though technological solutions exist to avoid gas flaring, many countries persist with the activity, including developed countries such as the US and […]
Oil prices rose again today, with Brent exceeding $80 per barrel, as tight global supply faces growing demand, with some gas to oil switching expected in Asia
Brent prices climbing above $80 per barrel for the first time since the pandemic started is a significant market event and highlights how the balance has changed dramatically, from global demand destruction and negative prices to supply tightness as demand returns. It is only now that the market is feeling the supply damage the Covid-19 […]
NOCs and other government-owned players could have an easier time navigating the energy transition, S&P Global Ratings says
S&P Global Ratings thinks the Middle East’s national oil companies (NOCs) and state-owned players in the energy sector are better placed than most global peers to weather the increasing and accelerating impact of the energy transition, according to a new report. “Notably, we believe regional shareholder structures, benefiting from government ownership and the expectation of […]
Oil prices continue to rise, with Brent approaching $80 per barrel, as global supply tightness keeps fueling the bullish rally
The rise of oil prices is continuing beyond what even most bullish traders would dream just months ago, and Brent hurtling towards the threshold of $80 per barrel is reflective of the extraordinarily tight crude market. However, upward space for price maneuvering could just as easily be extinguished, either as investors opt for profit taking […]
Oil prices remain strong on the back of another sizeable draw of US crude stocks, while outages of some supply capacity are expected to last through the end of the year
Although not rising today, oil prices continue to thrive on the momentum of supply constraints in the US Gulf of Mexico, which was reflected in the large crude inventory draws report of last week. While oil production is slowly returning, there are still prolonged outages that may last into early next year, supporting a bullish […]
Oil prices rise on projections for a larger-than-thought draw of US stocks, amid an overall global supply tightness
The bullish September spin looks poised to continue to nurture higher oil prices above $75 in the very near term, supported by the forecasted super-size gasoline draw by API, as well as general supply tightness that is likely to persist in the short term. Oil prices are gaining today as the API inventory forecasts show […]
Honeywell shares some of the key technologies that are having an impact on carbon emissions
The oil and gas sector is increasingly embracing new technologies across the value chain, with the hopes of making operations more efficient. But which of these have potential to lower carbon emissions? Honeywell weighs in with some of the solutions that could have the greatest impact on oil and gas decarbonisation efforts. UNISIM DESIGN UniSim […]
Oil prices are trading lower today as Ida-hit US production is slowly returning, while a stronger dollar makes oil pricier for international markets, at a time that China and Japan battle Covid-19 outbreaks
The reason oil prices reached such highs in the last few days was clearly supply disruptions and drawdowns in inventories, so now that US oil production is returning, oil as expected trades lower. The decline in prices today comes as US supply is slowly returning back online, at a time when the dollar has strengthened, […]
Oil prices are holding onto the strong gains of the previous day as US crude inventories recorded an unexpectedly large draw last week but, as supply slowly recovers from Hurricane Ida’s damage, there is some downside risk ahead
After Wednesday’s rally, the big question today was if oil prices are able to keep their gains and remain at such high levels. EIA’s confirmation of a surprisingly large draw of crude inventories in the US helped maintain price gains but now – like being on top of a ladder – there can turbulence with […]
Oil prices continue to rise this week as the market prices in the prospect of further US supply disruptions as a result of Hurricane Nicholas, ignoring otherwise bearish demand revisions from OPEC
Oil prices are ignoring bearish demand flags from OPEC and continue to rise today as traders see US oil production being in a limbo state, bracing for the effect of yet another Hurricane, at a time when it hasn’t fully recovered from Ida. As a significant part of the US Gulf’s oil and gas machine […]
