Global Oil Demand to Hit Pre-Virus Level Next Year, IEA Says
Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency predicted, urging OPEC and its allies to keep markets balanced by tapping their plentiful spare production capacity.
American Travel Spree Proves Market Right to Be Bullish on Oil
From bustling U.S. airports to surging demand for gasoline, all signs from this past Memorial Day weekend reaffirm the oil market’s bet that Americans will be out traveling in force this summer.
IEA Says Oil Demand May Return to Pre-Crisis Levels in a Year
Global oil demand may rebound to levels seen before the pandemic in a year, the International Energy Agency said, signaling a speedier recovery than its previous estimates.
Oil Marks Anniversary of Crash Below Zero With Rise Toward $64
Oil rose toward $64 a barrel, a year to the day after futures for the U.S. benchmark collapsed below zero, with the world’s most important commodity extending its rally on bets for better demand.
Historic Oil Glut Amassed During Pandemic Dissipates
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.
Permian Oil Nears Levels Not Seen Since Pandemic Start
The Permian Basin, the most prolific shale patch in the U.S., will produce crude oil at levels not seen since the start of the pandemic in the latest sign the global economy is heating back up.
Oil Soars Above $66, Highest in Two Years
Oil rallied to the highest in nearly two years in New York after OPEC+ shocked markets with a decision to keep supply limited as the global economy starts to recover from the pandemic-driven slump.
Granholm Says Oil Industry Must Embrace Green Transition
Jennifer Granholm used her first speech as U.S. energy secretary to warn oil and gas companies they risk being left behind unless they embrace a transition to cleaner sources of energy, while offering them an opportunity to partner with the new administration.
March 3, 2021Oil Extends Weekly Gain; Brent Pushes Toward $60 a Barrel
Oil set a fresh one-year high in New York with continued producer supply curbs helping spur strength everywhere from physical markets to the futures curve.
Oil Jumps to One-Year High on Depleting Supplies
Oil climbed to the highest level in over a year as tightening global supplies and signs of strength in physical markets aided crude’s virus-recovery rally.