Downstream

This post was originally published on this siteOct 29, 2021 (Bloomberg) OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy. The global oil-supply deficit will be just 300,000 barrels a day on average in the fourth quarter, the coalition’s Joint […]

This post was originally published on this siteOct 29, 2021 (Bloomberg) This year’s hurricane season started out as one of the most prolific in the modern era. Then suddenly, in October, the storms stopped. As of Friday, the Atlantic hasn’t produced a single new tropical storm in a month. Such a late-season pause has only occurred

This post was originally published on this siteOct 29, 2021 (Bloomberg) Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow.Exxon will revive repurchases for the first time since 2016. The company said Friday it plans to spend as much as $10 billion on repurchases

This post was originally published on this siteOct 29, 2021 Oil posted a monthly gain of 11% on signs that consumption is outpacing supply and draining stockpiles. Futures in New York rose 0.9% on Friday. Oil’s advance this month shows the impact of an ongoing shortage of natural gas, which has boosted demand for oil

This post was originally published on this siteOct 28, 2021 (Bloomberg)  The Group of 20 came into its own during the 2008 financial crisis in order to avoid a global depression. It was a turning point that made clear that big decisions could no longer be taken without the fastest growing economies. Fast forward to

This post was originally published on this siteOct 29, 2021 (Bloomberg) Negotiations at the Group of 20 summit in Rome dragged past midnight, stuck on energy and climate. Some countries singled out China, saying it is refusing to beef up commitments to limit temperature increases and digging in over coal. The countries are set to commit