U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
U.S. crude oil reserves rose by 1.4 million barrels, contradicting analysts' expectations, while gasoline demand remained high with a notable reduction in inventories.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
In July 2024, Russian seaborne exports of petroleum products to Asia doubled to 1.1 million tonnes, with increased use of the Cape of Good Hope route to avoid the Suez Canal.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
The International Energy Agency (IEA) is revising downwards its forecast for global oil demand in 2025, citing the weakening economy in China as the main brake on growth.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.
Despite its potential, the Dangote refinery is struggling to secure the necessary volumes of Nigerian crude, revealing flaws in the country's regulatory and supply mechanisms.
OPEC (Organization of the Petroleum Exporting Countries) is adjusting its forecast for world oil demand in 2024 slightly downwards, due to economic uncertainties in China, the main driver of global consumption.
OPEC (Organization of the Petroleum Exporting Countries) is adjusting its forecast for world oil demand in 2024 slightly downwards, due to economic uncertainties in China, the main driver of global consumption.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
Global overcapacity in the petrochemicals sector, exacerbated by Chinese expansion and energy costs in Europe, is forcing companies to undertake drastic restructuring, including plant closures and strategic consolidations.
