CALGARY, Alberta, March 15, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“ Birchclif…
World Oil (Bloomberg) – BP Plc’s Chief U.S. Economist Michael Cohen said the oil industry focused too much on cutting greenhouse gases last year, eroding its ability to keep pace with demand. “2022 taught us that too much focus on the decarbonization agenda led to a mismatch between supply and demand,” said Cohen in a Monday interview in Mexico
CNBC DUBAI, United Arab Emirates — When arch-rivals Saudi Arabia and Iran announced they were restoring diplomatic relations, much of the world was stunned — not only because of the breakthrough after years of mutual animosity, suspected attacks and espionage between the two countries, but because of who brokered the deal: China. Taking up a specific role that the U.S. could
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Oil Price The OPEC+ group will keep its oil production targets unchanged until the end of the year in view of the high level of uncertainty on the global markets and with global economic growth, Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, told Energy Intelligence in an interview this week. “There are those who continue to think that we would
CNBC Shares of Credit Suisse on Wednesday plunged to a fresh all-time low for the second consecutive day after a top investor in the embattled Swiss bank said it would not be able to provide any more cash due to regulatory restrictions. Trading in the bank’s plummeting stock was halted several times throughout the morning as it fell below 2 Swiss
Oil Price Russian revenues from oil fell in February as exports declined after the EU embargo on oil product imports from Russia by sea, the International Energy Agency (IEA) said on Wednesday. Last month, Russia’s total oil exports dropped by 500,000 barrels per day (bpd) to 7.5 million bpd as the EU embargo on refined oil products came into
BOE Report Oil extended losses on Wednesday with Brent crude hitting a three-month low as unease over Credit Suisse spooked world markets, offsetting hopes of a Chinese oil demand recovery. Early signs of a return to calm and stability faded after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance, sending its shares and broader
Weekly Crude Oil Storage as of March 10, 2023 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.6 million barrels from the previous week. At 480.1 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year, according to the EIA crude oil and
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