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oil

Almost three dozen oil tankers surround California with nowhere to go
8 months ago

Almost three dozen oil tankers surround California with nowhere to go

Oil tankers carrying enough crude to satisfy 20 per cent of the world’s daily consumption are gathered off California’s coast with nowhere to go as fuel demand collapses.

Almost three …
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Oil market ‘in complete turmoil’, negative prices could return
8 months ago

Oil market ‘in complete turmoil’, negative prices could return

Any lifting of isolation measures in response to the COVID-19 pandemic could be too late to save oil from a return to negative prices in the weeks ahead, as a …
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IEA Report Gives Insight into Possible Recovery of Global Petrol Demand
8 months ago

IEA Report Gives Insight into Possible Recovery of Global Petrol Demand

The International Energy Agency’s (IEA) latest report on oil markets gives insight into how the agency expects global demand for petrol to respond in coming months as countries begin to …
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Coronavirus and oil: Why crude has been hit hard
10 months ago

Coronavirus and oil: Why crude has been hit hard

The world’s biggest oil producers could be about to slash output as they grapple with the fallout of the coronavirus.

Representatives of oil producers’ cartel Opec and its allies are …
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Why petrol prices could be set to drop
1 year ago

Why petrol prices could be set to drop

Iran has discovered a new oil field with reserves estimated at more than 50 billion barrels, increasing the country’s total reserves by a third – and it has the potential to alter …
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Oil to Remain Critical Cog in Energy Mix: OPEC
1 year ago

Oil to Remain Critical Cog in Energy Mix: OPEC

OPEC, one of the top oil producing groups in the world, issued the 13th edition of its World Oil Outlook, which provides an in-depth review of how OPEC views the …
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Petrol prices stay high despite global oil prices falling to pre-attack levels
1 year ago

Petrol prices stay high despite global oil prices falling to pre-attack levels

Less than two weeks after the biggest supply disruption in the history of the oil trade, global benchmark prices have gently settled back to where they were before the drone …
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Oil prices soar amid fears of war after drone strikes wipe out half of Saudi Arabia’s crude production
1 year ago

Oil prices soar amid fears of war after drone strikes wipe out half of Saudi Arabia’s crude production

Oil prices surged by almost 20 per cent on Monday after two drone attacks wiped out more than half of Saudi Arabia’s crude supply.

The price of Brent crude jumped by nearly 20 per cent …
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Australia well supplied for oil: Institute of Petroleum CEO
1 year ago

Australia well supplied for oil: Institute of Petroleum CEO

One of Australia’s peak petroleum bodies says the nation does not need its own strategic oil stock reserves, despite the bombing of several Saudi Arabian oil stations.

Energy Minister Angus …
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No coal, no petrol, no gas: Australia’s energy future
1 year ago

No coal, no petrol, no gas: Australia’s energy future

No more petrol or diesel vehicles. Coal-fired power stations will disappear from the landscape. Gas will die. Even the humble servo will be no more.

Instead, vehicles will be powered …
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