Wildfires and extreme heat have damaged olive harvests in Europe, leading to shortages of olive oil. To keep up with demand, olive oil is being imported from South America. In the past couple of years, extreme weather, wildfires and droughts have damaged olive tree harvests to the point where Europe is now almost out of…
Russia and Saudi Arabia have made billions in additional oil revenue after their production cuts lifted prices. Russia likely generated an additional $2.8 billion over the past quarter, according to Energy Aspects data. Russia and Saudi Arabia have likely pulled billions in additional oil revenue after steep oil production cuts lifted crude prices. Russia has…
Oil prices could tread as high as $100 a barrel in 2024, Goldman Sachs’ Jeff Currie said. The outgoing commodities chief pointed to demand outweighing the supply of crude. Oil prices are heading into the triple-digits next year, as a supercycle lifts the commodities sector, according to Goldman Sachs’ outgoing commodities chief Jeff Currie. Brent…
Crude oil prices reached an new high for the year, driven by Saudi Arabia’s production cuts. But Riyadh may soon lift the restrictions, Rapidan’s Bob McNally told Bloomberg TV. The end to Saudi Arabia’s oil production cuts may be closer than investors anticipate, Bob McNally, founder of the Rapidan Energy Group, told Bloomberg TV on…
