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Oil Prices Rise On Hurricane Outages

Oil prices rose on Tuesday afternoon, ahead of the weekly crude inventory data releases, but traders remain concerned about the pace of the recovery in global oil markets. After a sobering OPEC report on Monday, the IEA published its updated demand forecast for 2020, revising its previous outlook downward by 200,000 bpd to 91.7 bpd, […]

IBM’s Next Big Bet is … the Oil Industry

IBM wants to dig more deeply into oil and gas. In partnership with oilfield services giant Schlumberger (SLB), IBM will create a digital platform where oil and gas companies can access real-time data and software give them a competitive advantage. The platform will layer Schlumberger’s suite of apps, called DELFI, onto IBM technology to provide […]

There May Be No Choice but to Nationalize Oil and Gas — and Renewables, Too

Once on the margin of the margins, calls for the nationalization of US fossil fuel interests are growing. Before the COVID-19 pandemic, the basic argument was this: nationalization could expedite the phasing out of fossil fuels in order to reach climate targets while ensuring a “just transition” for workers in coal, oil, and gas. Nationalization […]

Robust Chinese Demand Fuels Oil Market Recovery

Following last week’s price rally, oil prices move higher on Monday morning, on bullish demand figures coming from China. Additionally, U.S. dollar weakness contributed to last week’s price rally. Traders are also expecting deeper OPEC+ cuts of 1.15 million bbl/d in August and September. As a result, Brent crude traded above $46 which was mainly […]

3 Ways To Play The Coming Oil Boom

With the double negatives of a demand-culling pandemic and wildly declining sentiment trouncing the oil and gas and pushing companies to record lows, with $30 billion in collective debt, trying to pick a winner in this sector is growing more challenging by the day. On the demand front, the IEA has just cut its 2020 […]