Oil hit its highest since March on Tuesday, rising towards $47 a barrel, as a third promising coronavirus vaccine spurred hopes of a quicker recovery in economic growth and oil demand next year.
AstraZeneca said on Monday its Covid-19 shot was 70% effective in trials and could be up to 90%...
As the OPEC+ group’s decision on oil production cuts nears, there are renewed concerns about the future of the organization as it tries to rebalance the market while securing higher revenue and market share in the medium-term, Goldman Sachs, an American multinational investment bank and financial...
Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries.
Sentiment was also bolstered by hopes that the Organization of the Petroleum Exporting...
An inferno at Kharg Petrochemical Company, the only one of its kind on the island 25 km off the Persian Gulf coast, killed two workers and injured three on Thursday.
Fire broke out when carbohydrate was being unloaded from storage tanks. Firefighters doused the fire after two hours. The incident...
OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year.
“For 2021, oil demand is expected to grow by 6.2 million barrels per day,...
Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns over weaker fuel demand due to growing coronavirus infections and higher production in Libya.
Figures showing a rebound in the world’s second and third...
Despite difficulties including geostrategic challenges and the recent coronavirus pandemic, Iran has made noticeable progress in its energy sector.
Oil Minister Bijan Namdar Zanganeh said this at the 22nd annual ministerial meeting of Gas Exporting Countries Forum (GECF) held via...
Oil prices gained more than 2% on Monday, with Brent futures rising above $40 a barrel, after Joe Biden clinched the US presidency and buoyed risk appetites, offsetting worries about the impact on demand from a worsening coronavirus pandemic.
Brent crude futures for January climbed $1.06, or 2.7...
Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as US president, sources close to the organization said, and would miss the outgoing president, Donald Trump, who went from criticizing the group to helping bring about a record oil output cut.
Biden...
Oil fell towards $40 a barrel on Friday as new lockdowns in Europe to halt surging Covid-19 infections sparked concern about the outlook for demand, while markets remained on edge over drawn-out vote counting in the US election.
Italy recorded its highest daily number of infections on Thursday...