Lebanon’s central bank governor said Thursday that increased imports could have raised the demand for dollars in the country, noting this has pushed money changers to charge higher exchange rates.
Smelling like an oil refinery, the vast expanse of Lake Maracaibo has become polluted by its own reserves of crude as Venezuela’s economic collapse has left wells and pipelines in ruin.
OPEC is getting smaller, again.
Universal mCloud, a leading provider of asset management solutions combining IoT, cloud computing, AI and analytics, today announced the launch of a new AssetCare™️ solution under the banner of the “3D Digital Twin”.
North Dakota and Texas now account for some 60% of U.S. crude oil production. These two states buffered us from an oil price spike just a few weeks ago when drone attacks in Saudi Arabia took 5% of the world’s oil supply offline. The U.S. DOE confirms that our oil outlook shines bright.
As crude prices sink again, completely erasing the surge caused by attacks on Saudi Arabia, OPEC+ ministers acknowledged the growing risks to oil demand but gave no indication of a change in strategy.
Brent crude futures settled down $1.20, or 2%, at $57.69 a barrel.
GlobalData report: Asia to account for over 50% of global ethylene dichloride capacity additions during 2019-2023
The company’s report, Global Ethylene Dichloride (EDC) Industry Outlook to 2023 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants, reveals that Asia is expected to have a new-build and expansion EDC capacity of 1.72 million tonnes per annum (mtpa) by 2023.
U.S. crude oil production growth was slowing headed into summer, but production has since surged back to record levels.
As US imports of Saudi Arabian crude oil shrink to their lowest levels in more than 30 years, the West Coast’s share of those volumes has expanded.