After remaining tied for most of the second quarter, oil prices have mounted a significant rally, with first-month Brent gaining over 10% since the beginning of the month to trade at $ 83.30 a barrel. This marks the first time the contract has settled above the main 200-day moving average in nearly a full year. … Read more
Saudi Arabia’s economy is set to slow sharply this year from last year’s growth of 8.7% due to oil production cuts that the world’s top crude exporter is implementing in a bid to “stabilize the market.” The kingdom saw its economic growth forecast for 2023 cut by the largest economies in Updating The World’s Economic … Read more
Stocks of offshore oil and gas drilling and producers have gone on a tear after recent contracts broke records, reversing their seven-year decline that reached its peak during the Covid-19 pandemic. The increase in global oil demand, along with the increase in deepwater exploration and drilling, has kept offshore contractors really busy. Leading with impressive … Read more