Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying US crude stocks rose from a record high.
The American Petroleum Institute said on
The Board of Directors of Emirates Investment Authority (EIA), the only sovereign wealth fund of the Federal Government of the UAE, agreed to provide the proposed amount to set up and operate the banknotes printing house.
Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, US Energy Information Administration (EIA) chief Adam Sieminski said in an int
The US government jacked up its forecast for oil production next year by 250,000 barrels per day (bpd) as the boom in shale oil drilling continues to confound expectations of slower growth.
The US Energy Inform
Over the next three decades, world energy consumption is projected to increase by 56 per cent, driven by growth in the developing world, according to a report released today by the US Energy Information Administration (EIA).
Brent futures dropped toward $102 on Wednesday after an unexpected jump in oil inventories in the world's largest consumer, the United States, while producer cartel Opec and the US government both trimmed global demand forecasts.
The shale revolution is likely to have a far bigger effect on the global gas market than on oil supplies, entrenching the long-term price advantage of gas, according to new data from the Energy Information Admini
The world's spare oil production capacity outside of Iran rose slightly in the last two months, but a seasonal jump in winter heating consumption led to drawdowns from global stocks, the US government said on Thursday in a
The United States is bringing forward by several years the date at which it expects to become a net exporter of natural gas, the country's top energy adviser said on Tuesday in the latest boost for the government's ener