Friday, October 18, 2024
Traders clamor for Middle East oil amid Russia uncertainty- oil and gas 360

Traders clamor for Middle East oil amid Russia uncertainty

World Oil (Bloomberg) – Many of the world’s oil refineries are rushing to try and guarantee supplies of Middle East crude for next year, fearful of what’s to become of Russia’s giant export program.   In under a month, almost all companies in the European Union will be barred from purchasing seaborne cargoes from Russia — an attempt by the

The price cap era and the demise of the free energy market- oil and gas 360

The price cap era and the demise of the free energy market

Oil Price Price caps are all the rage these days on the energy scene. The European Union is capping the price of gas and the G7 group is trying to cap the price of exported Russian oil. Both amount to direct market intervention of the sort normally associated with authoritarian regimes.   Could price caps kill the free market? The idea

US sees oil growth slowing in 2023, falling short of record- oil and gas 360

US sees oil growth slowing in 2023, falling short of record

World Oil (Bloomberg) – The United States slashed its forecast for the nation’s oil production growth next year, predicting that output will fall short of an all-time high. America’s crude production will rise to 12.31 MMbpd in 2023, down from an earlier estimate of a record 12.36 MMbpd, the Energy Information Administration said in a monthly report Tuesday. The forecast

Oman's Energy Minister: It's foolish to assume renewables can meet global demand- oil and gas 360

Oman’s Energy Minister: It’s foolish to assume renewables can meet global demand

Oil Price The world’s energy needs will only grow, and it would be “foolish” to think that rising demand can be met with renewables alone, Oman’s Energy Minister Salim Al-Aufi told CNBC on Tuesday. Energy needs to be affordable and this is the first pillar of energy supply when the energy transition is concerned, the minister said. Oman’s official also defended, again,

Mexico’s energy policies are hurting trade with the U.S. and Canada- oil and gas 360

Mexico’s energy policies are hurting trade with the U.S. and Canada

Oil Price The United States and Canada are frustrated with Mexico’s approach to energy. The country’s energy policy has fluctuated over the last decade as different presidents have taken wildly different approaches to transform the sector. The previous Mexican President, Enrique Peña Nieto, made a seismic shift when he opened up the long-nationalized sector to international investors.   For nearly 80

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