The electric vehicle, Artificial Intelligence (AI), power infrastructure and automation boom will drive at least 10 million metric tons of additional copper demand by 2035, Swiss multinational commodity trading company Trafigura has predicted. According to Graeme Train, Trafigura’s head of metals analysis, one third of the 10 million tons of new demand...

Baker Hughes has reported forecast-beating financial figures for the first quarter of the year, joining Halliburton and SLB in booking robust performance amid strong demand for oilfield services. Baker Hughes boasted a net income of $455 million for the first quarter, on revenues of $6.4 billion, which was a 12% improvement on the year. Earnings before...

Slowing U.S. crude oil production growth and changed global oil flows have stalled projects by pipeline giants and oil majors to have deepwater ports built off the Texas coast to handle the loading of supertankers. Four projects were planned offshore Texas before multiple crises hit the industry in the 2020s and changed trade oil flows. But only one...

Crude oil inventories in the United States fell this week by 3.23 million barrels for the week ending April 19, according to The American Petroleum Institute (API). Analysts had estimated a 1.8 million barrel build for crude oil. For the week prior, the API reported a 4.09 million barrel build in crude inventories. On Tuesday, the Department of Energy...

Back in 2020, a senior Washington-based lawyer who has long worked closely with the U.S. Treasury Department exclusively told OilPrice.com that: “Just like Pakistan was with Al Qaeda and us, we know the Iraqis are lying about Iran, but we still have to give them cookies when they visit”. Cookies were presumably in abundance as Iraq’s latest prime minister,...

Amidst global efforts to phase out coal power by 2040, China's coal consumption is unlikely to decrease significantly by that time, according to a new report by Norwegian consultancy DNV. The report indicates that China's coal usage, currently the world's largest, will experience a minor reduction in the next two years, followed by a one-third decline...