Global Oil Output

The frictions in Russia's wartime economy are growing, as massive military spending balloons the budget deficit. Consumers and businesses are gloomier. Growth has slowed. None of that, however, signals an imminent financial crisis or economic collapse, economists say. With crucial oil export revenues holding up due to high prices from the Iran war, the government is able to find the money to pay for its four-and-a-half-year-old invasion of Ukraine, at least for now. Meanwhile, low unemployment and government largesse in poor regions help keep a lid on consumer grumbling. That picture suits the Kremlin's narrative of stability ahead of Russia's stage-managed parliamentary election that got underway Friday and concludes Sunday. But economists warn that longer-term problems are gnawing at the foundations - and could one day result in a crisis. Consumers and businesses are more pessimistic --------------------------------------------------------- Indicators of consumer sentiment hav

As oil prices rise globally, Prime Minister Narendra Modi urges Indians to save fuel and delay gold purchases. Is this an early warning sign for India's economy and future price pressures?

The UAE's move, which comes into effect from May 1, could have serious consequences on the global energy markets

The US says it has enforced a blockade on Iranian ports; Trump says the war is 'close to over', but warns action will continue as talks may resume soon

US forces will begin restricting Iran-linked ships in the Strait of Hormuz starting today. While others can pass, the move puts focus on key Gulf ports and risks to global oil supply routes

Iran's warning over a possible Bab al-Mandeb closure has raised concerns over global trade. The strategic strait carries oil and goods between Asia, Europe and West Asia

Within days of the US-Israel attacks on Iran, crude oil prices have surged past $100 a barrel for the first time since the early fallout of Russia's invasion of Ukraine

The start of LNG exports from Eni's offshore Congo vessel signals growing industry confidence in floating LNG, as costs fall and companies seek faster ways to develop remote gas fields

WTI crude oil prices opened weaker, tumbling over 4 per cent in early trading, a sharp reversal from the prior week's modest 2.2 per cent.

Key alliance members said they expect to approve adding about 137,000 barrels during a video call on Sunday, as the group led by Saudi Arabia and Russia begins unwinding next layer of halted supplies

Saudi Arabia, the world's biggest net exporter of crude, is using renewables to drastically reduce its petroleum consumption

The slogan 'Drill, baby, drill' was coined in 2008 by Michael Steele, a Republican politician and the first African-American lieutenant governor of Maryland

India, the world's third largest oil consuming and importing nation, is hoping that more oil production coming from the western countries like the US and Canada will calm the markets and bring stability in prices, Petroleum Minister Hardeep Singh Puri said Thursday. Speaking at CII's 12th PSE Summit here, Puri said countries in the western hemisphere are adding more production which may influence oil producers cartel OPEC to also raise output to earn more while the era of fossil fuel lasts. Volatile oil prices upset economies reliant on imports for meeting their needs as they not just have to spend extra on buying the fuel but also import inflation that impacts purchasing powers of their people. "Today more production is coming on the global market from the Western Hemisphere. Brazil, Guyana, Canada and the US are adding more production... with more and more oil coming, one expects as a result that the market situation will calm," he said. This would also at some stage lead to ...

The Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman Sachs projected solid US fuel demand this summer

Lower global demand and discounts on Russian crude to ensure continuous oil flows

In an interview with AFP on Saturday, Jaber had defended the large presence of heavy-emitting industries, including the oil and gas sector

Producers - mainly a trio of African countries - were struggling to agree on output levels and hence possible reductions ahead of the meeting originally set for Nov. 26, OPEC+ sources said

India's energy demand will also reach 10 percent of global demand, up from 6.6 percent currently

Oil ministry's plans involve a rapid exit from fuels without considering implications, writes S Dinakar

Oil benchmarks were further depressed by seasonal demand weakness heading into the autumn, said Jay Hatfield, CEO of Infrastructure Capital Management