oil – The Mozambique Resources Post

Global Markets: Oil Slips on Fresh OPEC+ Barrels

Posted on August 5, 2025August 5, 2025 by Mozambique Resources Post

Oil prices fell in choppy trading as traders took stock of OPEC+’s latest bumper supply increase while US President Donald Trump vowed to penalize India for buying Russian crude, mitigating some fears about a glut. West Texas Intermediate crude slid 1.5% to settle close to $66 a barrel after Trump’s renewed warnings of increased levies on India over purchases of Russian oil. The latest fluctuation came after prices hit the lowest in a week as…

Global Markets: Crude Futures Soar

Posted on July 30, 2025July 30, 2025 by Mozambique Resources Post

Oil ended the session at the highest levels in over a month as President Donald Trump reiterated that the US may impose additional levies on Russia unless it reached a truce with Ukraine, stoking worries about tighter supplies. West Texas Intermediate oil settled at $69.21 a barrel while Brent settled above $72 a barrel, with both benchmarks at the highest since June. Speaking to reporters aboard Air Force One Tuesday, Trump warned of the potential…

Global Markets: Significant OPEC+ Decisions in the Past Week

Posted on June 5, 2025June 5, 2025 by Mozambique Resources Post

There have been two significant OPEC+ decisions in the past week, analysts at Standard Chartered Bank, including the bank’s commodities research head Paul Horsnell, said in a report sent to Rigzone late Tuesday by the Standard Chartered team. “The first came from the 39th OPEC and non-OPEC Ministerial Meeting on 28 May,” the analysts stated in the report. “The press release noted that the meeting had decided to ‘mandate the OPEC Secretariat to develop a…

Oil & Gas: IEA Sees Oil Investments Falling 6 Percent in 2025 on Lower Demand, Prices

Posted on June 5, 2025June 5, 2025 by Mozambique Resources Post

Global oil investments are expected to drop 6 percent in 2025, in the first such decline in a decade excluding the year of the Covid slump, according to the International Energy Agency. “This decline in oil investment is driven by the economic uncertainties, the lower demand expectations, and lower prices,” IEA Executive Director Fatih Birol said in an interview as the agency published its annual World Energy Investment report. The drop is mostly the result of…

Global Markets: Oil Falls Below $80 For First Time Since Early June

Posted on July 30, 2024July 30, 2024 by Mozambique Resources Post

Oil fell to the lowest in seven weeks on doubts about the strength of global demand, while investors looked ahead to OPEC+’s meeting for guidance on supplies. Global benchmark Brent crude settled below $80 for the first time since early June, while West Texas Intermediate slipped below $76 a barrel. Sentiment in the oil market has been subdued recently after China reported its weakest economic growth in five quarters earlier this month. The nation’s oil…

Global Markets: Oil Rises Tracking Equity Market Rally

Posted on July 26, 2024July 26, 2024 by Mozambique Resources Post

Oil prices rose as an equity market rally carried futures prices out of an earlier slump. West Texas Intermediate settled above $78 a barrel after earlier falling to the lowest since early June. Crude is tracking equities, which have risen on faith that the Federal Reserve will secure a soft landing for the US economy. “We have seen a rebound across asset crosses following the publication of US GDP and core durable goods orders, which surprised to…

Global Markets: IEA sees oil demand growth slowing as China’s share contracts

Posted on July 11, 2024July 11, 2024 by Mozambique Resources Post

LONDON, July 11 (Reuters) – Global oil demand growth will slow to just under a million barrels per day (bpd) this year and next, the International Energy Agency (IEA) said, as Chinese consumption contracted in the second quarter amid economic woes. Global demand in the second quarter rose by 710,000 bpd year on year in its lowest quarterly increase in over a year, the IEA wrote in its monthly oil report. “China’s pre-eminence (is) fading. Last year…

BP Energy Oultook: Both main scenarios see 2025 oil peak, rapid renewables growth

Posted on July 11, 2024July 11, 2024 by Mozambique Resources Post

LONDON, (Reuters) – BP expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 it published on Wednesday. Carbon emissions, caused predominantly by the burning of fossil fuels, also peak in the mid 2020s in both scenarios, which are as follows: – The Current Trajectory scenario is based on…

Sudan: Govt dissolves state-owned oil corporation

Posted on March 23, 2019March 23, 2019 by Mozambique Resources Post

Sudan’s Prime Minister Mohamed Tahir Ayala dissolved the state-owned Sudanese Petroleum Corporation and dismissed its secretary general, Azhari Ibrahim Bassbar, state news agency SUNA said on Wednesday.

Nigeria: Cabinet to sell stakes in joint oil assets to boost coffers

Posted on March 22, 2019March 22, 2019 by Mozambique Resources Post

Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.

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