by Jibran Munaf | October 15, 2024 | Energy
OPEC has adjusted its forecast for global oil demand growth in 2024, revising it downward by 106,000 barrels per day (tb/d) from the previous month’s assessment. Despite the revision, oil demand is still expected to grow by approximately 1.9 million barrels per day...
by Jibran Munaf | October 6, 2024 | Energy
Goldman Sachs has warned that oil prices could surge by up to $20 per barrel if Iranian oil production faces a significant hit, following growing concerns of escalating conflict in the Middle East. This comes as U.S. crude futures rose 5% on Thursday and continued to...
by Jibran Munaf | October 4, 2024 | Commodities, Energy
Global crude oil prices spiked on Thursday following comments by President Joe Biden, who confirmed that the US is discussing the possibility of Israel targeting Iranian oil facilities. This potential retaliatory move is in response to Iran’s recent ballistic missile...
by Jennifer George | October 1, 2024 | Economy, Energy, Industry, News
On Monday, US-listed global technology firm SLB announced a strategic partnership with ADNOC Drilling Company and Patterson-UTI to create Turnwell Industries LLC OPC. The joint venture aims to leverage each of the three companies’ expertise in AI, smart drilling...
by Jibran Munaf | September 29, 2024 | Energy
The OPEC+ alliance is increasing its focus on compliance with oil production cuts, emphasizing group conformity amid ongoing overproduction from key members like Iraq, Kazakhstan, and Russia. Two OPEC+ delegates revealed that the coalition is closely monitoring...
by Vasu Jit Kalia | September 26, 2024 | Energy, Industry
The UAE petrol prices change every month and the government is set to announce the new petrol prices for October next week. Petrol prices took a dip in September in the UAE, offering some relief to motorists as Super 98, Special 95, E-Plus 91, and diesel became more...
