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Oil Prices Tank on Fears China’s Rate Cuts Herald Demand Weakness
Friday 26th of July 2024
Oil prices dropped nearly 2% due to fears of slowing economic growth in China, despite positive US inventory data.Chinas recent interest rate cut and declining crude oil imports raise concerns about weakening demand.Weak refining margins worldwide and…
Iranian Oil Exports Have Risen Sharply, Facilitated By Malaysia
Thursday 25th of July 2024
According to StanChart, the latest China customs import data shows crude oil imports from Malaysia clocked in at 1.456 million barrels per day, a lot more than the country produces.Previously, we reported that Iran’s oil exports have seen a strong re…
Kuwait Looks To Nearly Double Production After Major Oil Find
Wednesday 24th of July 2024
A week ago, Kuwait Oil Company (KOC) announced a significant discovery of light oil and associated gas in the offshore Al-Nokhatha field.Kuwait has revealed ambitions to nearly double its oil output over the next decade.Sheikh Nawaf al-Sabah, CEO of K…
Stock Market’s Short-Term Focus Threatens Energy Transition Goals
Tuesday 23rd of July 2024
KKR: The energy transition would need a major change in the mentality of stock market investors to succeed.Earlier this year, several Big Oil supermajors, notably BP and Shell, signaled a pullback on their transition investments.The problem that most …
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