crude oil Tag

The Organization of the Petroleum Exporting Countries (OPEC) has forecasted that world demand for its crude will decline next year as the US shale industry continues to pump more oil, threatening another surplus. Providing its first forecasts for next year in a monthly report, OPEC said...

Peak oil demand will arrive in 2036 according to energy consultant Wood Mackenzie, with electric vehicles and autonomous vehicles set to rapidly alter the world’s transportation sector. Speaking to the Financial Times, Wood Mackenzie’s head of crude oil research Ed Rawle said: “Autonomous electric vehicles or...

US President Donald Trump has devised a plan to sell off half of the nation’s strategic crude oil reserves in order to help balance the budget. The plan was outlined in the White House’s 2018 budget proposal, which proposes raising nearly US$16.6 billion by 2027 through...