OPEC on Tuesday said it expected to see robust global oil demand growth in 2023. It is a with potential economic upside coming from a relaxation of China’s zero-COVID policies. This year have pushed the country’s oil use into contraction for the first time in years. World oil demand in 2023 will rise by 2.25 […]
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Oil rises to over $80 a barrel on Tuesday. It recorded its biggest daily gains in over a month. As investors bought up risk assets after U.S., data pointed to slowing inflation. The market was also buoyed by concerns about supply disruptions. It includes the ongoing shutdown of the Canada-to-United States Keystone crude pipeline. This […]
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With oil tumbling ahead of the grueling 2023 recession, the last thing OPEC+ and (bullish) oil traders wanted to see is even more supply coming online. Yet, that’s precisely what the core gulf hub is proposing. According to Bloomberg, the United Arab Emirates – which in recent years has aggressively sought to diversify away from […]
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OPEC Sees Robust Global Oil Demand Growth in 2023 After 2022 Chinese Contraction
IndustryOPEC on Tuesday said it expected to see robust global oil demand growth in 2023. It is a with potential economic upside coming from a relaxation of China’s zero-COVID policies. This year have pushed the country’s oil use into contraction for the first time in years. World oil demand in 2023 will rise by 2.25 […]
Oil Rises to Over $80/bbl as Dollar Slumps on Slowing Inflation
IndustryOil rises to over $80 a barrel on Tuesday. It recorded its biggest daily gains in over a month. As investors bought up risk assets after U.S., data pointed to slowing inflation. The market was also buoyed by concerns about supply disruptions. It includes the ongoing shutdown of the Canada-to-United States Keystone crude pipeline. This […]
UAE To Expand Oil & Gas Production Capacity With $150 Billion Investment
IndustryWith oil tumbling ahead of the grueling 2023 recession, the last thing OPEC+ and (bullish) oil traders wanted to see is even more supply coming online. Yet, that’s precisely what the core gulf hub is proposing. According to Bloomberg, the United Arab Emirates – which in recent years has aggressively sought to diversify away from […]