Oil is a hugely important commodity which powers the industrial world – from providing reliable energy to power homes, businesses and transport, to forming a range of materials (including plastics) that are used the world over. 481 more words
Tags » Oil Supply
Oil prices regained some ground after steep losses made since Friday in choppy trading ahead of a planned producer meeting on Wednesday aimed at reining in global oversupply. 408 more words
Is the oil exploration & production spending supply hole real and will it result in a production gap in a couple of years?
The oil industry and its analysts have begun to focus on how capital spending has declined so much recently that we could find that we do not have enough oil within a couple of years to meet demand. 93 more words
Oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe amid signs that space in on-land depots is filling up, a ship-operator said. 149 more words
Oil prices slipped on Thursday as investors questioned whether an OPEC agreement to curb oil production – the group’s first such deal since 2008 – would be enough to rebalance a heavily over-supplied world market. 359 more words
Saudi Arabia has offered to lower its own oil production if rival Iran agrees to cap its output this year, in a major compromise ahead of talks in Algeria next week, three sources familiar with the discussions told Reuters. 100 more words