Donald Trump wants America to dominate the global oil market. But his plans to boost production come as demand for the fossil fuel has weakened.
A plan hatched by Western nations to deprive Russia of oil revenue is largely faltering,a new report found,with the majority of the Kremlin’s seaborne oil exports evading restrictions.
Treasury modelling suggests a sustained 10 per cent increase in the oil price over a year would add about 0.4 of a percentage point to the inflation rate.
Australian drivers face a heightened risk of petrol prices climbing yet again if fighting in the Middle East intensifies and disrupts oil supply.
The oil world has had a surprisingly calm reaction to the Middle East conflict this week. That could change quickly.
The world is overflowing with oil,and OPEC has failed in its latest attempt to stop prices tumbling.
Petrol prices at the bowser are primed to fall in coming months as a slowdown in major economies reduces demand for oil.
Imagine what the world would look like today if US fracking technology and America’s wildcat drillers had not delivered the shale revolution.
This year,it is the tiny petrostate of Azerbaijan,next year giant Brazil,and if the Albanese government gets its way,Australia will be next in line to host the climate Olympics.
Woodside,the largest Australian energy company,is locked in a legal dispute in Senegal over how much tax it must pay from its newest oil field.
Norway’s is famously huge. Qatar used its to buy Harrods. How do sovereign wealth funds work? And why isn’t ours as big as Norway’s?