Oil prices eased on Wednesday after a surprise build-up in US crude stockpiles stoked concerns about a global supply glut even as a spike in global COVID-19 cases fuelled fears of a slower recovery in fuel demand.
Brent crude futures for December delivery were at $42.70 a barrel, down 46 cents,...
OPEC and allied producers have pledged action to support the oil market as concerns mounted that a second wave of the Covid-19 pandemic will hobble demand and an earlier plan to raise output from next year would further depress prices.
OPEC has said no-one should doubt the group’s commitment to...
Oil prices fell on Monday after reports that China’s third-quarter economic growth did not rise as much as expected, underscoring concerns that surging coronavirus cases globally are impacting demand in the world’s largest oil importer.
The world’s second-largest economy in the third quarter...
The world’s response to Covid-19 can “reshape the future of energy” for years to come, the International Energy Agency said Tuesday in its annual World Energy Outlook report.
The IEA report underscored that most important of all is how the crisis will ultimately affect the transition to clean...
Oil prices dropped 1% for a second straight session on Monday as US producers began restoring output post-Hurricane Delta.
Brent crude for December fell 41 cents to $42.44 a barrel and US West Texas Intermediate for November was at $40.18 a barrel, down 42 cents, CNBC reported.
Front-month...
World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits.
The prediction from the Organization of the...
Oil prices rose more than 2% on Monday, lifted by comments from doctors for US president, Donald Trump, suggesting he could be discharged from hospital as soon as Monday, just a few days after his positive coronavirus test sparked widespread alarm.
Trump’s health update seemingly eased political...
Tehran Comprehensive Water Supply Plan, dubbed Tehran Water Ring System, will be completed by next August and all districts will have access to the same water quality, Tehran’s governor said.
While water in the northern parts of Tehran is supplied from surface water, in the southern parts of the...
Oil prices were down 3% on Friday after Donald Trump tested positive for Covid-19 and negotiators failed to agree a US stimulus package just as rising global oil output threatens to overwhelm a weak price recovery.
Brent crude slipped on the Trump news and was down $1.23, or 3%, at $39.70 a...
An estimated 350 million liters of oil and oil byproducts were supplied daily via pipelines in 2019, indicating a 65% rise over the last 40 years, managing director of the Iranian Oil Pipeline and Telecommunications Company said.
"A total of 128 billion liters of crude and petroleum byproducts...