Oil prices have ample room to manoeuvre higher with more geopolitical tensions being added. Already earlier this week the eruption of attacks by Houthi rebels in the Red Sea sparked enough concern for all main freight operators to divert their fleet
Sanaa (AFP) Dec 12, 2023 - Yemen s Huthi rebels claimed responsibility on Tuesday for a missile strike on a Norwegian-flagged tanker, an attack the Iran-backed group said was part of its military campaign against Israel.
No wonder the group postponed its year-end meeting. Initially scheduled for last weekend in Vienna, the meeting is now planned for Thursday, barring another postponement. The agenda whether to cut production further, and by how much is likely to be unpalatable for many of the 23 members.
Colombo (AFP) Oct 31, 2023 - Sri Lanka is set to award a multi-billion dollar oil refinery project to a Chinese state-owned company after a rival bidder pulled out, the energy minister said Tuesday.