Prepare for $80 oil this summer as ‘wounded bulls’ rise, RBC warns

International oil prices will average $75 a barrel in 2019, and consumers may find themselves contending with bouts of $80 crude this summer, RBC Capital Markets says. The global investment bank revised its oil price forecast higher Thursday, pointing to a cocktail of market conditions. Those include steep OPEC supply cuts, robust demand, geopolitical risk […]

Oil prices rise on potential lengthy OPEC-led oil supply curbs

Oil prices Monday rose to four-month highs, aided by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles. Brent crude settled at $67.54 a barrel, while U.S. West Texas Intermediate crude settled at $59.09 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) and its allies […]

China expands switch from polluting coal heating in 2018 -environment minister

 China expanded its coal-to-gas and coal-to-electricity projects to 35 cities in 2018 from 12 cities the previous year, China’s environment minister, Li Ganjie, said on Monday, as the world’s second-largest economy stepped up its fight against smog. China’s winter heating program used to burn an estimated 400 million tonnes of coal a year, and switching […]