At $2 trillion, Aramco races Apple for world’s most valuable company
Saudi Aramco is close to claiming the prized position of the world’s most valuable company from Apple.
oil price
OPEC+ choice to drip-feed oil supply sends price to 7-year high
Oil steadied in Asian trading after rallying to the highest level since 2014 following a decision by OPEC+ to maintain its planned gradual increase of supply, despite the market facing an energy crunch.
Oil price steadies ahead of OPEC+ supply policy meeting
The oil price was steady ahead of an OPEC+ meeting on Monday to discuss production policy amid a rapidly tightening market.
Oil may hit $100 this winter and spur economic crisis, BofA says
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.
Someone is betting that oil will soar to a record $200 a barrel
Could the energy crunch get so bad that oil prices hit $200 a barrel? One options trader thinks so.
Brent oil soars above $80 as global energy crunch shakes markets
Brent oil roared above $80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories.
Oil prices fall after US calls on OPEC+ to boost production
Oil dropped suddenly after the US called on the OPEC+ alliance to revive production more quickly.
Oil tumbles to 11-week low as virus spread menaces outlook
Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand.
Here’s who wins and who loses from the surge in commodity prices
The world’s recovery from the coronavirus pandemic has sent prices for energy, metals and food soaring, helping big commodity exporters while hammering those nations that buy the bulk of their raw materials from others.
Oil closes out wild week with rally intact as bulls fight back
Oil held the bulk of a three-day advance to trade above $71 a barrel amid optimism that rising demand will tighten the global market.
OPEC+ to boost oil output after Saudi-UAE compromise deal
OPEC and its allies agreed to gradually add more oil supplies to the market, ending a two-week spat between Saudi Arabia and the United Arab Emirates.
Oil edges higher as investors bet demand will keep climbing
Oil rose on optimism that fuel demand will keep rising and tighten the market, despite a Covid-19 resurgence in many regions.
Oil price looms over Biden bid to throttle drilling rights sales
The Biden administration is preparing to release a blueprint for limiting sales of US drilling rights that falls short of the outright ban sought by some environmentalists, as the rising oil and gasoline price highlight the risks of curtailing domestic crude production.
Shell shareholders to reap rewards of upsurge in oil price
Shell shareholders are in line to reap the rewards of the upturn in the oil price after the company confirmed it would be boosting returns.
Oil reverses gains hitting six-year high on OPEC+ crisis
Oil in New York reversed gains as the U.S. dollar rose Tuesday morning.
OPEC+ deal fails, leaving oil market tighter as prices surge
OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.
Oil price rebound unlikely to derail hydrogen investments, say experts during Energy Voice event
A rebound in the oil price is unlikely to derail future hydrogen investments, industry experts have predicted.
Oil sinks amid dollar strength with Iran nuclear deal looming
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors.
Axora Cost Saving Technology Challenge spurs innovation as budgets tighten
The past year has taken a significant toll on many industries’ bottom line, and oil and gas is no exception. Pushed by excess supplies, price wars, and reduced demand due to the COVID-19 pandemic, oil prices fell to record lows.
Corallian fails to entice Shell with Jackdaw South
Corallian Energy attempted and failed to sell Shell and One-Dyas the “Jackdaw South” prospect ahead of the main development being sanctioned later this year.
Oil drops as low Indian demand offsets recovery optimism
Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.
Oil set for best week since early March on better demand outlook
Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
A key oil spread points to price war erupting as supply expands
A price war may be looming in the global oil market as rising output from OPEC+ and the Middle East boosts the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels.
Oil plunge: Prices had risen too quickly
For those who had been tracking technical indicators of oil this month, the message was clear: Crude prices had risen too quickly.
Oil deepens slide on dollar gain, concern over short-term demand
Oil in New York dropped more than 5% as short-term demand concerns and a rising dollar collided to cause the biggest intraday drop since December.