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Oil prices remained stable on Thursday following wild swings on both major benchmarks over the past few months.

On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act into law, reinstating two long-expired Superfund excise taxes on certain manufactured

Most stock markets in Asia-Pacific traded in the negative territory after the Bank of Korea (BOK) raised its interest rates by 0.25% to 1%. Meanwhile, China confirmed that it will release oil from eme…

The US government is worried about their high headline inflation (CPI) rate at 6.2%, which is the highest in more than the last 30 years. (Also read: India Will Release Strategic Petroleum For The First Time, Crude Oil Prices Expected To Fall)

Analysts at Goldman Sachs offer their take on the US oil release from the Strategic Petroleum Release (SPR) and any ban of oil exports from the US. Ke

The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -5.98 mmb to 1217.89 mmb in the week ended November 19. Crude oil inventory added +1.02 mmb to 434 mmb, compared with consensus of a -0.48 mmb increase. Inventory increased in 3 out of [] The post US Crude Inventory Surprisingly Increased appeared first on Action Forex .

The disappearance of a tycoon at the centre of an oil smuggling and money laundering racket in the South just hours after his arrest early this month dealt a heavy blow to the Royal Thai Police (RTP). His high-profile escape drew public attention and tarnished the battered reputation of the justice system.

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has constituted a Committee under the chairmanship of Special Assistant to the Prime Minister on CPEC, Khalid Mansoor, for preparation of oil storage capacity enhancement plan at Keamari, keeping in view existing storage capacities at ports, official sources told Business Recorder . The Federal Cabinet, which met on November 23, 2021 with Prime Minister in the chair, has also endorsed the terms of the committee. On November 18, 2021, the CCoE was briefed about construction of oil storage at oil installation area (OIA) Keamari. The Ministry of Maritime Affairs which was working on the proposal for the last several months submitted their summary wherein it was proposed that the ban imposed in 1984 on further construction of storage at the KPTs Oil Installation Areas (OIA), Keamari, Karachi, may be lifted. Furthermore, the KPT may be allowed to allocate land in OIA to registered Oil Marketing Companies (OMCs) and oil refineries operating in Pakistan after fulfilling all codal regulatory and procedural requirements, for construction of additional oil storage.

The OPEC+ Ministerial meeting is on December 2. Ahead of that is the JMMC meeting on November 30 OPEC meet the following day, December 1. I posted earlier on what to watch from this meeting, further links in this post: By Eamonn Sheridan

Fake It Till You Make It? Biden Energy Secretary Fumbles Two Simple Questions In One Day Energy Secretary Jennifer Granholm on Tuesday biffed two simple questions that anyone in her position should have been able to answer. Granholm - the former Democratic Governor of Michigan who has zero experience in the energy sector - was asked how many barrels of oil the US consumes in a day , to which she replied "I don''t have that number in front of me. Sorry." REPORTER: "How many barrels of oil does the U.S. consume per day?" Energy Sec. Granholm: "I don''t have that number in front of me. I''m sorry." pic.twitter.com/lToOjsLNLu Townhall.com (@townhallcom) November 23, 2021 Next, Granholm couldn''t provide an answer as to when Americans can expect gas prices to drop , and how long she might expect a drop to last, to which she replied: "Yeah, I''m not going to make a prediction about how much and how long." Reporter: "Bottom line, how soon will Americans see prices at the pump drop, and how long do you expect that to last?" Energy @SecGranholm : "Yeah, I''m not going to make a prediction about how much and how long." pic.twitter.com/KYrqwmmOyF The Hill (@thehill) November 24, 2021 hey, remember when you all pretended Rick Perry, the longest-serving chief executive of a gas- and oil-rich state, was in over his head at the department of energy? that was fun. https://t.co/RSlff4MZfw tsar becket adams (@BecketAdams) November 24, 2021 Nothing like faking it till you make it (or don''t)

WTI down 19-cents to $78.31 Today''s trading was a bit like a hangover in the oil market after yesterday''s SPR drama but price action was somewhat instructive. By Adam Button

The world’s third largest oil importer, India, has decided to release 5 million barrels of crude oil from its strategic reserves in a concerted effort with other major oil-consuming nations such as the US, Britain, Japan, China and South Korea, to bring down global crude oil prices, which breached $85 a barrel mark last month. […]

The Department of Energy will release 50 million barrels of oil from the Strategic Petroleum Reserve over the next several months.

Justice P. I. Ajoku of the Federal High Court sitting in Port Harcourt, Rivers State, has convicted and sentenced two oil thieves to two years imprisonment each, for dealing in petroleum products without an appropriate license. The convicts: Uba Promise and Ikechukwu Christian were convicted on Tuesday, November 23, 2021, after pleading guilty to one count separate charge [] The post Court jails two oil thieves in Port Harcourt appeared first on Nigeriannewsdirectcom .

oil more to come By Eamonn Sheridan