Global oil demand will rise in 2021, but not enough to surpass 2019 levels as the coronavirus pandemic continues to weigh on transportation fuel demand, especially jet fuel, according to S&P Global Platts Analytics.
"Oil demand will rebound by more than 6 million barrels per day in 2021, but...
One of the two 30 megawatt units of Zarand Thermal Power Plant in the namesake county, Kerman Province, is out of service due to lack of fuel since October, managing director of Zarand Power Generation Management Company said.
“Only one unit is operating and this will also stop if the power...
Oil prices eased on Friday but were set for a sixth week of gains, as the rollout of novel coronavirus vaccination programs fed hopes that demand for fuel would rebound next year.
Brent was down 19 cents or 0.4% at $50.06 a barrel, after rising above $51 a barrel on Thursday to an early-March...
Seventeen power and water projects worth $23 million were inaugurated in three provinces on Tuesday. One is in Tehran, eight in the northeastern Golestan Province and eight in Ilam in the west, the Energy Ministry news portal Paven reported.
The Tehran Province project will augment potable water...
The OPEC+ decision Dec. 3 to ease its output cut by an initial 500,000 bpd in January is unlikely to unbalance oil markets amid hopes for oil demand recovery from the early introduction of coronavirus vaccines, Petroleum Association of Japan President Tsutomu Sugimori said.
The deal, announced...
Oil prices fell on Monday as a continued surge in coronavirus cases globally forced a series of renewed lockdowns, including strict new measures in Southern California in the United States, the world’s top oil consumer.
Brent crude oil futures were down 20 cents, or 0.4%, at $49.05 a barrel,...
Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations.
Brent was up 93 cents, or 1.9%, at $49.64 a barrel after...
Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on 2021 output policy, while the coronavirus pandemic continues to sap fuel demand.
Brent crude was down 35 cents, or 0.7% at $47.53 a barrel, after dropping more than 1% on...
Crude oil prices tumbled Monday as investors waited for a decision by producer group OPEC+ whether to extend large output cuts to balance global markets, but vaccine hopes helped keep benchmarks on track to rise more than a fifth in November.
January Brent crude futures, which expire Monday,...
Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week.
Brent crude for January rose 28 cents, or 0.6%, to $48.08 a barrel and the more active February contract gained 32 cents to $48.11, CNBC reported.
West Texas...