oil

Egyptian authorities may seek over $1 billion in damages for helping to clear the Ever Given from the Suez Canal, as a dilemma emerges over who might foot the bill.

The ongoing coronavirus crisis continues to cloud the outlook, and analysts expect this to reaffirm Saudi Arabia’s caution about the global economic recovery.

Saudi Arabia has announced that oil giant Saudi Aramco and petrochemical firm SABIC will fund most of a 5 trillion riyal private sector investment plan.

The owners of the massive ship blocking the Suez Canal aim to refloat the vessel by Saturday night.

The shipping delays could raise gas prices and impact everything from the clothes and shoes you ordered to gym equipment, electronics, food and energy supplies.

Saudi Aramco also said it expects to cut capital expenditure in the year ahead, and lowered its guidance for spending.

“You can no longer have a reasonable debate or conversation about not being inclusive,” former Xerox CEO Ursula Burns told CNBC.

ADNOC, which pumps more than 3 million barrels of oil a day, has pledged to lower its greenhouse gas emissions and boost CO2 storage.

Occidental CEO Vicki Hollub says the recovery in crude oil demand is happening faster-than-expected, but she doesn’t see a return to pre-Covid levels in the US.

Oil prices jumped on Thursday after OPEC and its oil-producing allies said the group would keep production largely steady through April.

Abu Dhabi is about to make a major change to its oil pricing, but experts say other big Gulf producers might be slow to follow.

Investing in a cleaner future “is not a cliff that will occur abruptly,” Chevron’s Mike Wirth told CNBC. “This will be an evolution more than a revolution.”

Analysts broadly expect OPEC+ to hike output from current levels, but questions remain over how much exactly and which countries will be affected.

The Saudi crown prince’s actions in the killing of Khashoggi might have left the kingdom’s sovereign wealth fund vulnerable to consequences.

The U.S. is preparing to release an intelligence assessment that will reportedly implicate Saudi Crown Prince MBS in the killing of Jamal Khashoggi.

The Texas freeze is expected to push gasoline prices up across the U.S. by about 10 cents per gallon within the next couple of days.

Freezing weather sparked another rally in energy and put oil on pace to settle above $60 for the first time since the early days of the Covid-19 pandemic.

After a 23% rally so far this year, one top energy expert warns the commodity may have gotten ahead of itself.

It comes at a time when the oil and gas industry is under immense pressure to dramatically speed up its plans to pivot away from fossil fuels.

Recovery will be varied and based largely on countries’ investments and strategies for vaccine distribution, the IMF’s Jihad Azour told CNBC.