Immediately after Russia’s invasion of Ukraine, world oil prices jumped above US$100 per barrel, hitting US$130 for Brent crude on March 8…
Except for the recent dip in demand because of Covid-19, oil producers are enjoying the higher prices that come with increased consumption. But consumers may get the upper hand by 2040…
As some countries, including the world’s two biggest oil importers, are unlikely to join proposed sanctions against Russian crude, Moscow could redirect its exports.
Iran’s oil could have a significant impact on prices, although on its own it would not compensate for the loss of Russian supplies.
Most forecasts predict that oil prices will keep rising for the time being. But with geopolitical tensions running high, there is uncertainty over when they will stabilize.
After a brief sluggish period in August 2021, when oil prices reversed the gains made in June and July, by the fall prices regained momentum.
Iraq is a textbook example of the problems of high dependence on a single sector – that is, hydrocarbons. In fact, the Iraqi economy is one of the most oil dependent in the world.
Modern history is peppered with energy shocks, shortages, price spikes and panics.
There is an alternative universe sitting on the northeast shoulder of South America. As the global economy…
Oil prices have come a long way since reaching their lows of April 2020. The rebound has been rapid and impressive; prices are currently similar to those of early 2020, before the outbreak of the Covid-19 pandemic…
Oil consumption, GDP growth, trend of oil intensity – these are not words which sound like the beginning of a good story. And yet, strange things happen sometimes, as you are about to see, and they may happen anywhere: even in energy economics.
In March 2021, a new crude futures contract was launched in Abu Dhabi: Murban futures, traded on the Intercontinental Exchange (ICE)…