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Oil Price - Oil prices likely to increase on June 17, says DOE
Consumers should brace for another round of oil price hikes next week, with the Department of Energy (DOE) projecting an increase in the cost of fuel products based on early trading data.
OPEC Chief Claims Oil Demand Growth Is Here to Stay
OPEC’s secretary-general projects a 24% rise in global oil demand by 2050 and warns of dire consequences from chronic underinvestment in oil and gas.
US oil output set for first annual drop since pandemic
Some analysts expect US oil output to fall more steeply in the coming months. S&P Global Commodity Insights this week said total production could fall by 640,000 b/d from mid-2025 to the end of next year — a drop greater than the total produced by some Opec countries.
Bank of America says Saudi Arabia preparing for 'long and shallow' oil price war
Saudi Arabia is batting down the hatches for a "long and shallow” oil price war, in part to clip the wings of US shale energy companies, the Bank of America’s top commodities expert said.