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Demand Fears Are Driving Today’s Oil Markets

3 hours 39 minutes ago
Oil prices fell close to a three-month low on Friday, dragged down further by fears of weak demand. The proximate driver is the coronavirus in China, which is raising concerns about a hit to the economy and slower oil demand growth. “One should be prepared for negative surprises when it comes to Chinese demand given that the government has now widened the coronavirus quarantine to ten cities in Hubei province with a total population of 30 million people,” Commerzbank said in a note. “The impact of this is all the greater because…
Nick Cunningham

How Reliable Are The Big 3 Oil Forecasters?

7 hours 39 minutes ago
The oil market hinges and moves on forecasts. Whether it’s an oil demand growth forecast or a production forecast, no forecast is more closely watched and scrutinized than that provided by one of the big three: the IEA, EIA, and OPEC. The problem is, these forecasts often vary wildly from one another, meaning at least one of these forecasts will be wrong.  Bloomberg’s Julian Lee this week wrote in a column about the discrepancy between OPEC’s oil demand estimates for 2020 and those of the EIA and the IEA, noting that while…
Irina Slav

Deputy PM: WEF 2020 became more significant for Azerbaijan

13 hours 55 minutes ago
The World Economic Forum (WEF) in Davos, which is one of the most authoritative economic forums, has an important place among international structures in which, President of Azerbaijan Ilham Aliyev has been actively participating for several years, Azerbaijani Deputy Prime Minister Ali Ahmadov wrote in his article entitled "World Economic Forum in Davos: New Opportunities for Demonstrating Azerbaijan to the World".

TPO’s package for supporting non-oil exports approved

16 hours 20 minutes ago
TEHRAN – Iran’s Resistance Economy Headquarters has approved a “Non-Oil Export Support Package” prepared by the Trade Promotion Organization (TPO) for the rest of the current Iranian calendar year (ends on March 19, 2020), the TPO portal reported on Sunday.

Oil recovery from Azadegan oil field to increase by 3.5b barrels

17 hours 5 minutes ago
TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh said Tehran University is committed to increase Azadegan oil field’s recovery factor up to 10 percent from its current six percent, which means an increase of up to 3.5 billion barrels of the field’s recoverable reserves.

Non-oil trade at over $72b in 10 months

17 hours 8 minutes ago
TEHRAN- The value of Iran’s non-oil trade hit $72.3 billion during the first ten months of the current Iranian calendar year (March 21, 2019-January 20, 2020), the head of Islamic Republic of Iran Customs Administration (IRICA) announced in a press conference on Sunday.

Iran ready to send 6 satellites into orbit

20 hours 12 minutes ago
Iran has prepared six satellites to be launched into space, while one more satellite is in the process of being assembled, the country’s Minister of Information and Communications Technology, Mohammad-Javad Azari Jahromi, has announced, Trend reports citing Sputnik.

Armenia violates ceasefire with Azerbaijan 23

21 hours 16 minutes ago
Over the past 24 hours, Armenian armed forces have violated the ceasefire along the line of contact between Azerbaijani and Armenian troops 23 times, the Azerbaijani Defense Ministry said on Jan. 26, Trend reports.

Find Gas Stations Near You On Oilprice.com

1 day 11 hours ago
We have all been there…Casually driving along and the question pops up seemingly out of nowhere…“When was the last time I filled up my tank?” That’s when you look down at the gas gauge and immediately, panic sets in. The warning light is on…and you have no idea how long it’s been there. Or where the nearest gas station might be. You can feel your face go flush…You’re already imagining the worst-case scenario – pushing your car down the freeway in the hot sun.But then, you remember……
Editorial Dept

Funny Money Or Savvy Investing? Critics Want Answers About Source Of Russian PM's Wealth

1 day 13 hours ago
Russia's new prime minister is known as a technocrat, but the term "plutocrat" may also apply. In the days since tax chief Mikhail Mishustin was tapped for the job, there have been mounting allegations about his family's wealth. But could Mishustin's early career at the heart of Russia's emerging computer industry 30 years ago explain the origins of his fortune?

Yerevan pursues policy of armenization of Azerbaijan’s historical monuments: statement

1 day 13 hours ago
Armenian authorities and the illegal regime in the occupied Nagorno-Karabakh region of Azerbaijan have been recently conducting the armenization policy under the cover of reconstructing Azerbaijan’s historical and cultural monuments on the occupied territories, reads a statement by the Azerbaijani community of Azerbaijan’s Nagorno-Karabakh region, Trend reports Jan. 25.

IRAN LIFTEX 2020 running in Tehran

1 day 14 hours ago
TEHRAN- Tehran Permanent International Fairgrounds is hosting the 8th International Exhibition of Elevators, Escalators, Elevating Conveyors and Accessories.

Yerevan pursues policy of armenization of Azerbaijan’s historical monuments: statement

1 day 16 hours ago
Armenian authorities and the illegal regime in the occupied Azerbaijani Nagorno-Karabakh region have been recently conducting the armenization policy under the cover of reconstructing Azerbaijan’s historical and cultural monuments on the occupied territories, reads a statement by the Azerbaijani community of Azerbaijan’s Nagorno-Karabakh region