Invesco Db Oil Fund ETF News

SEOUL, Feb. 4 (Xinhua) -- South Korea''s headline inflation topped 3 percent for four straight months in January due to a higher price for farm goods and oil products, statistical office data showed Friday. The consumer price index (CPI) stood at 104.69 in January, up 3.6 percent from a year earlier, according to Statistics Korea. The consumer price inflation hovered above 3 percent for the fourth consecut

The oil sector is likely to witness further contraction as escalating theft and underinvestment have become a clog in the wheel of progress of the industry. Experts lament the oil theft phenomenon that has assumed huge and dangerous proportion, is a major disincentive to investment in the oil and gas sector. In 2021, the country []

OPEC+ broke a record this week. On Wednesday, the oil cartel booked the fastest meeting since its creation, at a total of 16 minutes. This was enough for member countries to agree to keep their current arrangement of adding 400,000 bpd to their combined oil production every month. The outcome of the meeting surprised no one, unlike previous OPEC meetings when there was tense anticipation until the very end. This is no longer the case. This is mostly because of the last few monthly production reports of OPEC and its partners. According to them,…

Crude oil prices reached $90 per barrel for the first time since 2014 on Thursday afternoon.

What a day for oil

Trinity Spirit had ten crewmen aboard and was capable of storing two million barrels of oil Oil production ship Trinity Spirit sank off the coast of Nigeria after an explosion in the early hours of Wednesday. A video of the vessel bursting into flames was captured and posted to social media. The explosion happened at the Ukpokiti oil field near the Escravos terminal off Nigeria''s coast.

Abu Dhabis state-owned oil and gas company announced on Thursday the discovery of between 1.5 to 2 trillion standard cubic feet of gas in an offshore area located in the emirates northwest. The discovery comes as Gulf Arab states continue to rely heavily on profits from oil and gas exports, despite rising global temperatures and The post UAE: ADNOC announces new offshore gas field appeared first on Gulf Insider .

Shell has joined the ranks of other Big Oil majors who reported supersized profits on higher oil and gas prices, reporting $6.4 billion in net income for the final quarter of 2021. Earnings for the full year soared to $19.29 billion, up from $4.8 billion for 2020, Shell said. Shell also boasted a reduction in net debt, by $23 billion to $52.6 billion during the reporting period. Earlier data from Shell released last month revealed that oil trading had slowed down during the fourth quarter of 2021, but gas trading flourished amid the surge in demand…

Britain''s main opposition Labour Party called on the government last month to introduce a windfall tax on oil and gas in the face of soaring energy costs.

Companies have tapped many of their best wells. The limited inventory leaves the industry with little choice but to hold back growth, even amid the highest oil prices in years.

Presently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is required to be blended or mixed in petrol (meaning 10 per cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and provide farmers with an additional source of income.

Greg posted the news Wednesday US time: OPEC+ agreed to increase oil output by 400,000 BPD from March. That is as expected. ANZ analysis: OPEC+ alliance was quick to rubber-stamp the increase at its monthly meeting, suggesting there are no dissenting voices to the monthly 400kb/d inc

Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row

Oil cartel expected to stick to modest output increase while eurozone inflation is forecast to slow

Some 85% of Cypriot car buyers would select either a hybrid or electric car the next time they purchase a vehicle, and only 15% would opt for petrol or diesel, according to a European Investment Banks (EIB) survey. The second part of the 2021-2022 EIB Climate Survey explores peoples views on climate change in a rapidly changing environment. When asked about future car purchases, 85% of Cypriot car buyers say they will buy a hybrid or electric car. This figure is 70 points higher than the percentage of Cypriots who said they would buy a diesel or petrol vehicle (15%). The post Cypriots prefer hybrid or electric cars appeared first on Financial Mirror .