Oil Slumps On Demand Weakness, Though Hedges Bet Bullishly
Oil’s losses are being extended as concerns persist over the demand outlook in a slowing global economy, leading Goldman Sachs Group to lower its price forecast yet again. After suffering…
Frances Completes Takeover Of Nation’s Biggest Power Provider
According to a release by the French finance ministry on Thursday, the French government has finished nationalizing the nation’s largest energy utility, EDF, and the company has now been officially…
Oil Plunges Off Possible Iranian Nuclear Deal Progress
Oil plunged, falling over 4% due to regional media reports triggering speculation regarding possible progress for a revived Iran nuclear deal with the US. The sudden fall came during a…
Oil Prices Fall Following Saudi Production Cuts
Despite a recent announcement by Saudi Arabia that it would dramatically cut its production output of crude oil, oil prices fell on Tuesday. The downward movement of crude indicates demand…
Oil Prices Rise After Saudi Production Cut Announcement
Following Saudi Arabia’s announcement that it would voluntarily reduce its production output by one million barrels per day (bpd) starting in July, global crude oil prices have begun to rise.…
Saudi Arabia Announces Unilateral Production Output Cut
After pledging to do “whatever is necessary,” to prop up lagging oil prices, Saudi Arabia has announced it will cut oil production by one million barrels per day (bpd) unilaterally.…
EU Continues To Import Russian Gas
In its efforts to further reduce its reliance on Russian energy products, the EU has continued to increase its imports of liquified natural gas (LNG). However amid all its efforts,…
OPEC To Welcome Iran’s Return To Oil Market When US Lifts Sanctions
In an interview with Iran’s Shana news agency on Monday, OPEC Secretary General Haitham Al Ghais said that as a responsible partner, Iran will be fully welcomed into the global…
European Gas Prices Poised To Fall Below Zero
Bloomberg is reporting that according to traders, if European demand for natural gas fails to keep up with a growing supply-glut of gas, short-term natural gas prices could dip below…
Saudi Arabia Says Russia Has Not Fully Reduced Its Oil Output
On Saturday, the Wall Street Journal reported that Saudi Arabia has accused Russia of not fully fulfilling its pledge to voluntarily restrict its oil production in response to Western sanctions,…
