Oil markets could face oversupply in 2020, the IEA says
In its latest monthly report, the Paris-based agency cut its oil demand growth figure by 100,000 barrels a day for both 2019 and 2020. Oil demand is expected grow 1.2 million barrels a day in 2020, IEA said in the report. Click here to read more from CNBC.
Saudi Arabia is Ready to Balance Oil Markets at Any Cost
OPEC’s top producer Saudi Arabia has signaled that it is prepared to cut its oil production even deeper than it is cutting now, Nigerian oil minister Timipre Sylva told Bloomberg TV on Tuesday, citing a recent conversation he had with Saudi Energy Minister Prince Abdulaziz bin Salman. Click here to read more from Oilprice.com.
Oil and Corn clash over secretive U.S. biofuel waivers in hearing
The U.S. oil and corn industries continued a long-running public battle over America’s biofuels policy on Tuesday during a Congressional hearing about the Trump administration’s use of “secret waivers” for refineries. Click here to read more from Reuters.
New U.S. Mission After al-Baghdadi Death Pivots to Protecting Syria’s Oil Fields
Pivoting from the dramatic killing of the Islamic State’s leader, the Pentagon is increasing U.S. efforts to protect Syria’s oil fields from the extremist group as well as from Syria itself and the country’s Russian allies. It’s a new high-stakes mission even as American troops are withdrawn from other parts of the country. Click here to read more from Time.