NZX oil & gas stocks in news as oil prices drop on recession fears

Electric vehicles are gaining popularity worldwide as they have evolved technologically to offer better range at competitive prices without compromising on looks or features. Interestingly, the first electric car dates back to the 1800s and ...

Summary White House has called on OPEC+ to bolster crude oil production to ease the pressure of rising fuel prices. The soaring gasoline prices are proving to be a hindrance to the economic recovery worldwide. The oil cartel had put a ...

Summary OPEC and U.A.E reached a truce when latter’s demand to boost oil supply got a nod from the member nations. Oil prices slipped amidst fear of an increase in supply; WTI futures dropped to ~US$71/bbl while Brent August contr ...

Summary Saudi Arabia and Russia are in favour of adding 0.4Mbbl/day of crude oil from August 2021 to support the global demand. The benchmarks- WTI & Brent are trading above US$75/bbl as the OPEC+ meeting extends for the second day. ...

Shares of oil and gas majors Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX) fell on April 30 after both the companies reported profit in their first quarter of 2021. Exxon Mobil had been reporting loss in the last ...

Source: Oil and Gas Photographer, Shutterstock Suez Canal, the world’s busiest waterway, went standstill after a gigantic container vessel was stranded on Tuesday, March 23. This blockage may lead to severe disruptions across the glo ...

Source: Anan Kaewkhammul, Shutterstock The International Energy Agency (IEA) has projected that global oil demand will not attain its pre-coronavirus levels until 2023. The agency estimates an average fuel consumption of over 101 million b ...

announces emergency aid as Weather Dept. says cold condition to remain for next few days. Millions of people in the US were facing prolonged blackouts and heating fuel shortage amid an unprecedented cold blitz that swept through North ...

As promised by Joe Biden and feared by Canadian oil producers, the brand new US president overturned Donald Trump’s permit for Keystone XL pipeline construction hours after taking office. This has led to many experts questioning wheth ...

The International Energy Agency (IEA) has cut down its previous estimates for global oil demand due to the fresh wave of COVID-19-led lockdowns. The international agency reduced the projected global oil demand growth for the present quarte ...