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(Reuters) - Oil prices fell about 3% to below $80 a barrel on Friday as surging COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool prices. Brent futures for January fell $2.35, or 2.9%, to settle at $78.89 a... Continue Reading →
(Reuters) - Oil prices dropped below $80 a barrel on Friday as a fresh surge in COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool energy prices. Brent crude was down $1.54, or 1.9%, at $79.70 a barrel by... Continue Reading →
Brazil has no plans to join the Organization of the Petroleum Exporting Countries (OPEC) for now, although it is working with the producer group, its energy minister said on Wednesday. Brazilian President Jair Bolsonaro said in 2019 he wanted his country to join OPEC, a move that would likely require Brazil, a growing producer and... Continue Reading →
(Reuters) - The International Energy Agency (IEA) on Tuesday upped its assumption for the 2022 average Brent crude oil price to $79.40 a barrel and $71.50 a barrel this year. "We publish our price assumptions when we think that this can be useful for the understanding of our forecast," the IEA said in a statement... Continue Reading →
(Reuters) - Oil prices dropped to $82 a barrel on Thursday, extending sharp falls triggered by concerns that rising U.S. inflation could prompt Washington to release more strategic crude stockpiles to drive down prices. Brent crude futures lost 64 cents, or 0.77%, to $82 a barrel by 1200 GMT after rising to $83.37 in morning... Continue Reading →
(WO) --The U.S. government projected that the global oil market will become oversupplied and prices will fall by early next year, cooling expectations that the White House may tap the nation’s emergency reserves. Supply increases next year from OPEC nations as well as U.S. drillers will ultimately pressure prices lower. The U.S. benchmark crude will... Continue Reading →
Oil prices rose more than 1% on Friday, staging a partial recovery after OPEC+ producers rebuffed a U.S. call to raise supply and instead maintained plans for a gradual return of output halted by the pandemic. Brent crude rose 82 cents or just over 1% to $81.36 a barrel by around 0146 GMT, after falling... Continue Reading →
(Reuters) - Oil rose towards $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short as demand recovers from the worst of the pandemic. The increase in OPEC's oil output in October undershot the rise planned under a deal with allies,... Continue Reading →
(Reuters) - A Brazilian Senate investigative committee approved a report on Tuesday that calls for President Jair Bolsonaro to be indicted for nine crimes related to his handling of the coronavirus pandemic, including crimes against humanity. The report, which is more than 1,300 pages long and took the opposition-controlled committee about six months to prepare,... Continue Reading →
Demand for liquefied natural gas (LNG) is expected to rise by 25 to 50% by 2030, making it the fastest growing hydrocarbon over the next decade, analysts from Morgan Stanley Research said in a note on Monday. Morgan Stanley has raised its long-term LNG price outlook to $10 per million British thermal units (mmBtu), expecting... Continue Reading →
Brazil Energy Insight 