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Oil

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Oil stabilises after tumbling 7 per cent on virus concerns

Oil prices stabilised on Tuesday after dropping nearly 7 per cent in the previous session amid a broader market retreat on concerns about a resurgence of COVID-19 infections, which came just as oil producers inked a new supply deal.

Shell to raise shareholder payouts as world economy recovers

Shell announced on Wednesday its intention to raise shareholder payouts as the world economy continues on its path to recovery.

Europa partners with Causeway to assess West Firsby oilfield

Britain, Ireland and Morocco-focussed energy company Europa Oil & Gas announced on Wednesday that its wholly-owned subsidiary operator of the West Firsby oilfield has entered into a memorandum of understanding (MoU) with Causeway Geothermal, to assess the potential of the field as a geothermal test.....

Oil prices drop as dollar strengthens

Oil prices dropped for a second consecutive session as the US dollar soared on the prospect of interest rate hikes in the US, but they were on track to finish the week little changed and only slightly off multi-year highs.

Shell to accelerate energy transition after court ruling

Royal Dutch Shell will seek ways to accelerate its energy transition strategy and deepen carbon emission cuts following a landmark Dutch court ruling last month, CEO Ben van Beurden said on Wednesday, a move that will likely lead to a dramatic shrinking of its oil and gas business.

Oil prices steady on expectations for improved demand

Oil prices were little changed on Thursday after strong gains in the previous two sessions on expectations for surging fuel demand later this year while major producers maintain supply discipline.

Petrol prices see their biggest annual rise in a decade

Petrol prices have seen their biggest annual rise in nearly 10 years as a result of the coronavirus pandemic.

Oil demand on track as economies re-open, says Barclays

A gradual oil demand recovery is largely on track as economies re-open, British bank Barclays said on Friday, adding that it remained constructive on oil prices despite rising Covid cases across Asia and potential return of Iranian supplies.

Oil rises as U.S. crude supplies hit multimonth lows

Oil was up Thursday morning in Asia as U.S. crude supplies dropped to multimonth lows. However, volatility remained as the recovery from the pandemic remains uneven and impacts fuel demand.

Oil continues to rise as demand offsets Covid concerns

Oil prices extended gains on Thursday after rising 1 per cent the previous session, as bullish forecasts on recovering demand this summer offset concerns of rising Covid-19 cases in India, Japan and Brazil.