Oil Prices Start the Week With a Loss as Demand Concerns Grow
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Fracking the future: How Congolese oil extraction has shaped its history and its fate
In 1969, the recently independent Republic of Congo discovered an enormous oil field off its coast. The find represented both a rare opportunity for the burgeoning nation, and a potential threat—the revenue generated by oil extraction could either pave the way for a stable socialist society, or doom the country to exploitation much like that it had endured under French colonialism.
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China's Crude Oil Imports Hit A Record High In 2023
China's Crude Oil Imports Hit A Record High In 2023 By Tom Kool of OilPrice.com China’s crude oil imports hit a record high in 2023, rising by 10% year-over-year and breaking the previous record from 2020 when the world’s top crude oil importer took advantage of the price crash to gorge on cheap crude. Last year, China’s crude oil imports averaged 11.3 million barrels per day (bpd), up by 10% compared to 2022, according to Chinese customs data compiled by Bloomberg and the U.S....
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Bank earnings, stock futures, oil prices: 3 Things
Bank of America (BAC) and Morgan Stanley (MS) both topped their first-quarter earnings estimates with the major bank stocks rising ahead of Tuesday's market open. US equity futures (^DJI, ^IXIC, ^GSPC) are ticking up in pre-market trading after all three of the market indices closed Monday lower. Oil prices (CL=F, BZ=F) slip as investors wait to see if Israel will retaliate against Iran after the latter coordinated an air assault against Israeli military bases on April 13. For more expert...