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Venezuela’s Crumbling Oil Industry Is An Environmental Time Bomb
Venezuela’s profound economic and humanitarian crisis fails to attract the headlines it once did, particularly after the U.S. recognized interim president Juan Gauido’s May 2019 uprising failed. While the autocratic Maduro regime’s actions continue to gain some media attention, it appears that the world’s worst modern economic collapse outside of war is no longer the
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China Once Again Cuts Oil Import Quotas For Indepedent Refiners
Beijing has cut the crude oil import quotas for independent refiners for the rest of the year in the latest move to curb their growing oil market clout, Reuters has reported, citing industry sources. According to the report, the latest crude import quotas for independents is 14.89 million tons. This brings the total for the
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OPEC Cuts 2021 Oil Demand Forecast
OPEC expects this year’s global oil demand to grow by 5.8 million barrels per day (bpd) from the low 2020 levels, down from last month’s estimate of 5.96-million-bpd annual growth. In its closely watched Monthly Oil Market Report (MOMR) on Wednesday, the cartel kept its 2022 oil demand growth forecast unchanged at 4.2 million bpd
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