China will drive oil demand to record 100m-plus barrels per day, keeping prices elevated February 15, 2023 China will drive oil consumption to record levels this year, as the world's second largest economy reopens following sustained lockdowns.
OPEC raises oil demand forecast as markets tighten and China reopens February 14, 2023 OPEC has hiked its forecast for global oil demand this year, its first upward revision for months, in its latest market report.
Russia slashes oil output by 500,000 barrels per day in response to Western sanctions February 11, 2023 Russia will cut oil production by 500,000 barrels per day after the West imposed price caps on Russian oil and products.
Shell wins High Court injunction against Greenpeace protestors occupying oil platform in North Sea February 7, 2023 Shell has won a bid for a new High Court injunction against Greenpeace protesters occupying an oil platform as it is transported to the North Sea. On January 31, four protesters from the environmental campaign group boarded the White Marlin, a heavy-load ship carrying a floating oil and gas platform, as it travelled near the [...]
Oil set for second week of losses as investors await Chinese rebound in demand February 3, 2023 Oil is on course for a second straight week of losses, with investors hoping for clearer signs of fuel demand recovering in China.
Oil be damned: Global demand for oil set to hit all-time high this year as China reopens January 18, 2023 Global oil demand will reach a record high this year, and rise by nearly 2m barrels per day this year, as China eases pandemic restrictions.
Oil falls below $80 per barrel as global recession fears hit prices January 4, 2023 Oil prices have tumbled, shedding last month's gains in this week's trading sessions amid growing expectations of weaker demand.
Edging lower: Oil price slips and could fall further on China Covid concerns January 4, 2023 Oil prices edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising Covid-19 cases. Brent futures for March delivery fell 43 cents to $81.67 a barrel, a 0.5% loss, by 0700 GMT. U.S. crude dropped 39 cents, [...]
Oil holds firm from December rally as Putin ramps up pressure on the West January 3, 2023 Oil prices are holding firm this morning, seemingly consolidating last week's rally which saw both benchmarks trading at a month high.
Oil prices hit three week high as traders bet on the end of Chinese zero-Covid rules December 27, 2022 Oil prices hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. China will stop requiring inbound travellers to go into quarantine, starting from Jan. 8, the National Health Commission said on Monday [...]