Oil Surpasses $85 per Barrel for the First Time in Three Years
On Friday, oil prices climbed above $85 a barrel for the first time in three years, owing to expectations of a supply shortage in the coming months, as rising gas...
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Russia Can Produce Up to 11.4 million bpd but is Sticking to its OPEC+ Quota
Speaking at the Russian Energy Week Forum on Thursday, 14 October 2021, the Deputy Minister of Russia who is also in charge of leading Russia’s participation in the OPEC+ agreement,...
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OPEC Reduces 2021 Oil Demand Forecast in MOMR
OPEC forecasts global oil consumption to expand by 5.8 million barrels per day (bpd) this year from low 2020 levels, down from a forecast of 5.96 million bpd growth last...
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OPEC+ is Overperforming on Monthly Production but Underperforming on its Quota – Argus
According to statistics from Argus, OPEC+ is producing less oil than it is expected to, according to a survey done by Platts and published by Forex Live. According to the...
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Investment in Low Carbon Energy Must Triple to Fulfil Paris Agreement – IEA
Fatih Birol, the head of the International Energy Agency, told the Financial Times that if the world is to fulfil its Paris Agreement commitments, investments in low-carbon energy must triple....
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India to Account for 35% of Midstream Projects in Asia by 2025 – GlobalData
According to GlobalData, India may start the operations of 118 midstream oil and gas projects from 2021 to 2025, which will account for 35% of the total upcoming midstream projects,...
Read More High Natural Gas Prices Could Lead To 2 Million Bpd Extra Oil Demand
Oil prices have vaulted to multi-year highs after OPEC and other major producers opted last week against increasing output by more than previously agreed. However, it's the natural gas trajectory...
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Oil Prices Continue to Rise as OPEC+ Forge Ahead with Plan to Add 400,000 bpd in November
On Monday, oil prices increased as OPEC+ maintained its intention to increase output by 400,000 barrels per day in November. As it gradually unwinds a historic production deal, OPEC+ expects...
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EIA Predicts Accelerating Renewable Usage, Increase in Demand for Oil and Gas
According to the latest report from the US Energy Information Administration (EIA), global demand for renewables will grow at the fastest rate through 2050, but demand for petroleum and other...
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Senate Confirms Nigerian Midstream and Downstream Petroleum Regulatory Authority’s Leadership
The Senate confirmed four nominees for members of the Nigerian Midstream and Downstream Petroleum Regulatory Authority on Thursday. They are Chairman Idaere Gogo Ogan, Chief Executive Officer Farouk A. Ahmed,...
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