Invesco Db Oil Fund ETF News

1. When Will Crude Oversupply Finally Come? - The ongoing US-OPEC public spat continues to revolve around the oil markets immediate prospects, namely its moving into oversupply following several months of global stock draws. - Latest outlooks from OPEC, IEA, and EIA all indicate that markets should flip into oversupply in Q1-2021, with EIA forecasting it would average some 900,000 b/d over January-March. - Whilst OPEC remains ambiguous on its own production strategy for 2022, the energy agencies seem to agree that next year should see higher-than-expected

US and European stock markets fell Friday and the euro slumped as Austria announced a new strict lockdown to try to curb surging Covid cases, triggering heavy losses for oil prices.

Earlier this week, EPA published its proposed new methane regulations for the oil and gas sector. These new rules will have significant practical implications for the industry and have the potential to set new precedent for EPAs authority under the Clean Air Act to address climate change for other industries as well. While the proposal is over 150 pages long, it does not include the actual text of the proposed rules, promising instead to provide proposed text in a supplemental notice early next By: Troutman Pepper

India has reportedly rejected the latest call to release the strategic petroleum reserves made earlier this week by US President Joe Biden, who insists that the measure would temper rallying crude oil prices. The US administration reached out to some of the world''s largest oil-consuming states, including China, India, Japan, and South Korea, according to several people aware of the development, a

European stocks retreated from record highs, while government bond yields, oil prices and the euro tumbled on Friday as the specter of a fresh Covid-linked lockdown in Germany and other parts of Europe cast a fresh shadow over the global economy.

BEIJING, Nov. 19 (Xinhua) -- China will cut the retail prices of gasoline and diesel starting Saturday, the country''s top economic planner said Friday. The prices of gasoline and diesel will go down by 95 yuan (about 14.88 U.S. dollars) per tonne and 90 yuan per tonne, respectively, according to the National Development and Reform Commission. Under the current pricing mechanism, if international crude oil

Nov. 19, 2021 The people of Nembe Basamri in Bayelsa on Thursday expressed concern over the air toxicity following prolonged exposure to gas and crude oil leaks from a nearby oil well operated by Aiteo Eastern Exploration Company. Recall that the oil firm had reported a leak from an oil well at its Santa Barbra South field within Oil Mining Lease (OML) 29 on Nov. 5 but community sources claimed that the leak was noticed on Nov 1. Residents at fishing settlements along the Nembe creeks have been living with the gas and crude discharge which has paralysed economic activities [] The post OML 29 well leak: Impacted communities raise alarm over air toxicity after death of toddler in suspected methane gas poisoning appeared first on Political Economist .

The people of Nembe Basamri in Bayelsa on Thursday expressed concerns over the air toxicity following prolonged exposure to gas and crude oil leaks from a nearby oil well operated by Aiteo Eastern Exploration Company. The oil firm had reported a leak from an oil well at its Santa Barbra South field within Oil Mining [] The post OML 29 well leak: Impacted communities cry out over risk to health appeared first on . .

Analysis: Environmentalists are worried the presence of large oil tankers in the Red Sea port of Eilat would endanger delicate coral reefs found there, and politics should not be taken into consideration in energy deals

Despite NNPC Claim, Fuel Marketers Predict N170/litre The pump price of Premium Motor Spirit, popularly called petrol, may rise from the current N162-N165/litre to N170/litre, while its depot price is projected to increase from N159/litre to N165/litre, oil marketers said on Thursday. Dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria [] The post Despite NNPC Claim, Fuel Marketers Predict N170/litre appeared first on Economic Confidential .

Given that Joe Biden turns 79 on Saturday, perhaps its no surprise he went old school attempting to deflect the problematic politics of rising gas prices. Hes blaming Big Oil. President Biden on Wednesday asked the Federal Trade Commission to investigate what is happening with oil and gas markets and bring all of the Commissions []

The Biden administration is scrambling to ease inflation concerns fueled by the rising energy prices. The latest move has asked China and some other large oil consumers to use their emergency reserves to cool down global prices. According to Reuters, President Joe Biden and his top aides have discussed a possible release of crude oil stockpiles []

ALMOST half of UK drivers have said they will be forced to cut back on spending this Christmas as a result of record high petrol and diesel prices. Read more here Daily Express :: Cars Feed No end in sight: Petrol and diesel prices keep soaring with chilling impact on drivers

According to the company, the demand continues to grow

"It simply does not make sense to put oil company profits over the future of an inhabitable planet," said Christy Goldfuss from the Center for American Progress, a liberal think tank.