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 […]

Heavy crude to be in high demand in 2019 – IEA

Heavy, sour crude oil might be in high demand in the coming months as the global market struggles to adjust to the recent US sanctions on Venezuelan state oil company PDVSA.  The major focus would be on crude quality rather than quantity, the International Energy Agency has said, as sanctions against Iran and Venezuela, along […]