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oil

Why petrol prices could be set to drop
4 weeks 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 month 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
2 months 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
3 months 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
3 months 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
3 months 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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U.S. oil prices score biggest gain of the year on worries of a deepening U.S.-Iran conflict
6 months ago

U.S. oil prices score biggest gain of the year on worries of a deepening U.S.-Iran conflict

Oil futures rallied Thursday, with U.S. prices scoring their highest settlement this month and posting their biggest one-day gain so far this year, after Iran shot down a U.S. military …
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How Much Oil Is Displaced by Electric Vehicles? Not Much, So Far
9 months ago

How Much Oil Is Displaced by Electric Vehicles? Not Much, So Far

Electric vehicles are taking ever-bigger bites out of global oil demand, but they haven’t yet caught up with the growing size of the pie.

Gasoline and diesel displacement by electric …
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Asia’s resilient fuel demand vindicates OPEC policy…for now

SINGAPORE (Reuters) – Asian consumption of gasoline and other fuels has beaten expectations due to demand stemming from structural changes in the economies of Asia’s biggest oil users, vindicating for …
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Oil product imports set to soar as BP, Shell close Australian refineries

Australia’s oil product imports in 2015 are expected to grow at the fastest pace in at least seven years as it shuts another ageing refinery, putting it on track to …
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