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LONDON: British oil major BP agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years. The deal, which includes interests
Saudi Arabia’s non-oil private sector regained momentum midway through the third quarter of this year. Stronger domestic demand drove a faster upturn in output, which recovered from July’s five-month low.
Global oil demand will return to pre-pandemic levels in two years and reach record heights by 2026 unless governments take swift action to meet climate goals, the International Energy Agency said on Wednesday. Oil markets and the world economy
Brent crude was down 37 cents, or 0.5%, at $67.63 a barrel by 05:35 GMT while US oil was also down 32 cents, or 0.5%, at $64.28 a barrel, having fallen 0.3% the previous session.
US West Texas Intermediate (WTI) crude fell 4 cents, or 0.07%, to $59.96 a barrel by 05:52 GMT while Brent crude was down 10 cents, or 0.16%, to $63.18 a barrel.
Saudi Aramco’s Chief Executive expects rising oil demand in 2021, he said on Sunday, citing Chinese demand approaching pre-pandemic levels while vaccines help other economies to open up.
Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 01:36 GMT while US oil was off by 68 cents, or 1.1%, at $60.74 a barrel.
US West Texas Intermediate (WTI) crude futures for May delivery fell 62 cents, or 1%, to $60.94 a barrel at 01:49 GMT while Brent crude futures for May dropped by 68 cents, or 1.1% to $63.94, erasing a 9 cent gain in the previous session.
Global equity benchmarks and oil prices drifted lower on Tuesday while safe haven assets gained as an extended economic lockdown in Germany and US and European sanctions on China curbed risk appetite worldwide.
Oil prices rose more than $1 per barrel on Thursday after Saudi Energy Minister Prince Abdulaziz bin Salman urged caution and vigilance at the beginning of a meeting of Opec ministers and their allies about the future of supply cuts.
