This week, Total Energies and Qatar Energy announced plans to expand their exploration efforts in the Orange Basin offshore Namibia.
While China's crude oil imports increased in the first two months of 2024, it's premature to gauge their impact on global oil demand and prices for the year.
Despite the currently low natural gas prices in the United States and the abundance of shale gas resources, the futures market has experienced significant fluctuations in recent months.
Shaikh Nawaf Al-Sabah, the chief executive of Kuwait Petroleum Corporation (KPC), stated in an interview with Bloomberg that global oil demand appears strong in a balanced market this year.
The Reserve Bank of India is encouraging state refiners to negotiate 10% of oil payments in rupees with Gulf suppliers to protect the rupee's value and reduce reliance on the dollar.
Today, crude oil prices rose after the Energy Information Administration (EIA) reported estimated inventory draws across fuels.