"We May Have To Supply Europe":
• https://www.zerohedge.com by Tyler DurdenLawmakers Pressure Biden To Halt Russian Oil Imports, Boost Production
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Lawmakers Pressure Biden To Halt Russian Oil Imports, Boost Production
While the seemingly endless negotiations to revive the 2015 Iran nuclear deal - which was ended by Donald Trump in 2018 when the president reimposed heavy sanctions on Iran's economy - have gone nowhere, it appears that Iran no longer has a pressin
"Because of the high Saudi OSPs in previous months, traders have diverted to the spot market instead of using long term contracts."
Oil prices surged back higher overnight after a brief dip on the API-reported surprise crude build (and massive product draws), as hopes that OPEC+ won't hike output too much prevail.
Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent government incomes, budget deficits across the region are soar
The OPEC+ member countries are on the brink of a financial crisis if the latest assessments of the International Monetary Fund (IMF) are accurate.
"I want the guys in the trading floors to be as jumpy as possible. I'm going to make sure whoever gambles on this market will be ouching like hell..."
Leading To Bolton Eruption And Subsequent Termination
It's not a secret: OPEC has painted itself into a corner by relying exclusively on supply control to be able to manipulate international oil prices in a way that is favorable for its members.
Much has already been written over the last 24 hours by pundits and analysts alike about Qatar's decision to leave the Organization of the Oil Exporting Countries (OPEC) by January next year.
Qatar's Energy Minister Saad al-Kaabi told a news conference Monday that the country would withdraw from OPEC on January 1, 2019. The country's energy minister said the move represents a "technical and strategic" change, Reuters reported
The U.S. wants Iran's oil exports to drop to zero, according to a recent statement by National Security Advisor John Bolton. The question is: can the U.S. pull it off?
minimize environmental pollution...(Natural News) There are few greater oxymorons than "environment-friendly oil company," especially if said company is the biggest example in the world. But Saudi Aramco is trying to do just that, using nanotechn
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...
•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.
In this scenario, time is running out for Saudi Arabia's free-spending royalty and state - and for all the other free-spending oil exporters.
Since the start of OPEC's production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly eating up some of the cartel's global market share while the cu
State oil producer NIOC seeks to pre-qualify foreign bidders NIOC to announce list of elgibile oilfield bidders on Dec. 7
In the 1990s, the California-based Unocal Corporation invited a delegation from the Afghan Taliban to their headquarters in Sugar Land, Texas, to discuss prospects for constructing a 1700-kilometer Peace Pipeline, according to a new documentary by Al
MOSCOW (Reuters) - Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.
Oil Jumps Despite Saudi Plans For "Significant Output Growth"; Kuwait Unveils Plans For Record Production Surge