by Jibran Munaf | October 22, 2024 | Commodities, Energy
Oil prices slipped on Tuesday, reversing some of the previous day’s 2% gains, as the U.S. ramped up efforts to broker a ceasefire in the Middle East. Simultaneously, concerns about sluggish demand from China, the world’s largest oil importer, continued to...
by Jibran Munaf | October 21, 2024 | Energy
Oil prices rebounded following a near 8% drop last week, driven by concerns over supply disruptions from escalating tensions in the Middle East, as well as China’s continued efforts to stimulate its economy. Global benchmark Brent crude rose to nearly $74 a barrel,...
by Jibran Munaf | October 15, 2024 | Energy
OPEC has adjusted its forecast for global oil demand growth in 2024, revising it downward by 106,000 barrels per day (tb/d) from the previous month’s assessment. Despite the revision, oil demand is still expected to grow by approximately 1.9 million barrels per day...
by Jibran Munaf | October 6, 2024 | Energy
Goldman Sachs has warned that oil prices could surge by up to $20 per barrel if Iranian oil production faces a significant hit, following growing concerns of escalating conflict in the Middle East. This comes as U.S. crude futures rose 5% on Thursday and continued to...
by Jibran Munaf | October 4, 2024 | Commodities, Energy
Global crude oil prices spiked on Thursday following comments by President Joe Biden, who confirmed that the US is discussing the possibility of Israel targeting Iranian oil facilities. This potential retaliatory move is in response to Iran’s recent ballistic missile...
by Jennifer George | October 1, 2024 | Economy, Energy, Industry, News
On Monday, US-listed global technology firm SLB announced a strategic partnership with ADNOC Drilling Company and Patterson-UTI to create Turnwell Industries LLC OPC. The joint venture aims to leverage each of the three companies’ expertise in AI, smart drilling...
