Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

DAVOS – The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green energy pressures, the head of Saudi Aramco told Reuters, adding it cannot expand production capacity any faster than promised. Amin Nasser, head of the world’s largest oil producer, said on … More Aramco CEO Warns Of Global Oil Crunch Due To Lack Of Investment

Oil Drops After OPEC+ Reaffirms Supply Return As Demand Wavers

Milan / Italy – – Oil prices fell on Thursday after OPEC+ agreed to keep its policy of gradually returning supply to the market at a time when coronavirus cases around the world are surging and many U.S. refiners, a key source of crude demand, remained offline. Brent crude was down by 16 cents, or … More Oil Drops After OPEC+ Reaffirms Supply Return As Demand Wavers

OPEC+ Gradual Output Hikes To Help Stabilise Markets, Says Iraqi Oil Minister

Milan / Italy – – Iraqi’s oil minister said on Wednesday that the OPEC+ policy of gradual crude output hikes will help stabilize global oil markets, the oil ministry said in a statement. Iraq supports the group known as OPEC+ that help oil markets stability, the oil minister, Ihsan Abdul Jabbar, said, adding that the … More OPEC+ Gradual Output Hikes To Help Stabilise Markets, Says Iraqi Oil Minister