EghtesadOnline: The International Energy Agency is "significantly" concerned about geopolitical tensions, including in the Strait of Hormuz, but oil markets are currently well supplied and unlikely to see "huge price increases for now," the head of the agency said Friday.
EghtesadOnline: PSA Group’s sales in the Middle East and North Africa plunged 68.4% in the first half of 2019, punished by the automaker’s forced withdrawal from Iran under the threat of US sanctions.
EghtesadOnline: Tens of thousands of ships sailing the world’s oceans burn more than 3 million barrels of sludge-like high-sulfur fuel every single day. But, starting next year, the shipping industry will have to comply with rules that should dramatically reduce sulfur emissions.
EghtesadOnline: Surging US oil output will outpace sluggish global demand and lead to a large stocks buildup around the world in the next nine months, the International Energy Agency said on Friday.
EghtesadOnline: OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to US sanctions and other outages elsewhere in the group, a Reuters survey found.
EghtesadOnline: China will end ownership limits for foreign investors in its financial sector in 2020, a year earlier than scheduled, Premier Li Keqiang said on Tuesday.
EghtesadOnline: Members of the Organization of Petroleum Exporting Countries should hold consultations among themselves first on oil policy before striking deals with producers outside the bloc, Oil Minister Bijan Namdar Zanganeh said on Monday before leaving Tehran to attend the 176th meeting of OPEC in Vienna, Austria.
EghtesadOnline: Roughly a decade after the global financial crisis, central banks around the world may not have much left in their toolkit to boost the economy, according to the head of the Organization for Economic Cooperation and Development.
EghtesadOnline: Oil tanker owners are raising the prices they charge to export Middle East crude as tensions surge in a region that accounts for about a third of all seaborne petroleum shipments.
EghtesadOnline: Japanese refiners have started weighing alternative crude supply sources that would not need to transit through the Strait of Hormuz, including from the Red Sea side in Saudi Arabia, West Africa and the US, amid rising tensions in the region, Petroleum Association of Japan President Takashi Tsukioka said Friday.