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U.S. economic conditions are “mostly favorable” yet the Federal Reserve remains cautious in raising interest rates because threats loom, New York Fed President William Dudley said on Monday. Dudley, a permanent voter on rates and a close ally of Fed Chair Janet Yellen, repeated his views in a speech, saying “policy adjustments are likely to […]
New Climate Economy report sets out how Multilateral Development Banks have a crucial role to play in mobilising clean energy investment The New Climate Economy (NCE) group has this month published a major new report detailing the crucial role development banks need to play in ramping up clean energy investment in developing countries. The coalition […]
OPEC member Iran and India – one of Asia’s fastest growing source of energy demand – signed a memorandum of understanding (MoU) to develop oil and gas projects, including the Farzad B gas field, Iranian Petroleum Minister Bijan Zangeneh told the Iran-India business conference held at Teheran Chamber of Commerce Saturday, Shana – a media […]
Rice University researchers have developed a technique to model oil and gas formations to determine the cause of souring. Credit: Jason Gaspar/Alvarez Lab In at least one—and probably many—oil and gas drilling operations, the use of biocides to prevent the souring of hydrocarbons wastes money and creates an unnecessary environmental burden, according to researchers at […]
Oil markets will probably balance by the end of next year, with prices rising in the medium term, according to Sultan Al Jaber, the new head of Abu Dhabi National Oil Co. Prices, which have swung between highs of about $42 a barrel and lows of about $27 this year, will continue to be volatile in […]
Oil prices edged up in Asia on Monday, recovering slightly from last week s decline, but analysts said traders would likely delay any big moves until next month s meeting of key producers. Hopes for an agreement between Russia, Saudi Arabia and other crude giants to at least freeze output sent both main contracts racing above $40 earlier this month, helped by […]
Even as U.S. oil production started to slide in the second half of 2015, the downside risks to oil prices continued to dominate. In the third quarter, broad-based manufacturing softness and financial market turmoil threatened to derail growth in developed markets, bringing some focus back to the demand side of the ledger. Annual oil demand growth proceeded […]
Oil fell around 3 percent on Monday after Iran dashed hopes of a coordinated production freeze any time soon, returning bearish sentiment over a supply glut that has sent prices crashing. Global benchmark Brent crude futures LCOc1 fell back below $40 a barrel, trading at $39.27 at 1308 GMT, down $1.12 on Friday’s close. Brent […]
Major oil producers are likely to meet in April to discuss a proposal to freeze output at January levels to stabilize the market, according to four Gulf OPEC delegates. Ministers from some members of the Organization of Petroleum Exporting Countries had suggested that such a meeting would take place this month in Russia. The talks […]
The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of 1 million barrels of crude in just 17 days, but its journey has been four years in the making. On Sunday, the tanker became the first to deliver Iranian crude into Europe since mid-2012, when Brussels imposed an […]
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