(BOE Report) – Governments are set to buy millions of barrels of oil through 2028 to rebuild emergency reserves depleted by drawdowns to plug a gap in global supply caused by the U.S.-Israeli war on Iran, analysts and officials said. This could boost demand for crude that would absorb some of the expected global supply surplus following OPEC+’s decision to
Yahoo News HOUSTON -With crude prices surging past $125 a barrel, oil company executives called on Tuesday for more favorable global government energy policy to help the industry resolve the supply crisis that deepened after Russia’s invasion of Ukraine. On Tuesday morning, President Joe Biden announced a U.S. ban on Russian oil and other energy imports, while Britain said it
US News LONDON – European governments have spent tens of billions of euros trying to shield consumers from record high energy prices, and themselves from voters’ wrath, but the measures look set to fall short. From Athens to Oslo, lawmakers across Europe, some facing elections this year, have scrambled initiatives such as removing VAT on home energy bills or providing
Reuters LONDON/MOSCOW – From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic. Oil majors have traditionally escaped big cuts in OPEC nations, such as Nigeria, and have never
