OPEC production cheats part of historical pattern: Eurasia’s Greg Priddy OPEC production cheats part of historical pattern: Eurasia’s Greg Priddy
Despite recent volatility in the price of oil, the CEO of BP believes the market is currently balanced and production is meeting demand on a daily basis.
Two years ago, Kansas repealed a law requiring that 20 percent of the state’s electric power come from renewable sources by 2020, seemingly a step backward on energy in a deeply conservative state.
Last year saw 161 gigawatts (GW) of renewable power capacity installed, a new report from the Renewable Energy Policy Network for the 21st Century (REN21) says.
Oil prices slid nearly 5 percent on Wednesday after the U.S. government reported an unexpected increase in crude inventories, fanning fears that output cuts by major world oil producers have not drained a global glut very much.
The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost oil and gas reserves rather than the mega-mergers that followed previous slumps in crude prices.
Oil edged up on Wednesday, lifted by reports of Saudi supply cuts to Asia, but prices were prevented from rising further over a lack of detail of these reductions
The World Bank raised its crude oil price forecast for 2017 to $55 a barrel on Thursday from $53 a barrel, as it expects an output agreement among the Organization of the Petroleum Exporting Countries (OPEC) to help trim excess supply.
Renowned energy trader Mark Fisher is not parsing words when it comes to buying crude oil and natural gas — on Friday, he advised buying any dip in the commodities.