The world witnessed the long-waited announcements related to successful trial results of several vaccines, which are the preliminary requisite for quick regulatory approvals that will then translate into mass production and distribution.
‘We’re realistic,’ German energy giant’s CEO says in announcing targets.
There are three additional variables which oil markets are not used to deal with in the fourth quarter: the current infections uptick in Europe, the U.S. presidential transition and announcements about new vaccines, all of them adding bearish or bullish pressure to prices over the next few months.
An Iranian official said on Nov. 11 that Tehran exported up to 700,000 bbl/d of oil since March, but was later quoted by an Iranian news agency casting doubt on the figure which had been kept secret.
The lawsuit against JP Morgan filed in the English courts in 2017 relates to the purchase of the offshore OPL 245 oil field in Nigeria by oil majors Shell and Eni in 2011.
Woodside Petroleum had been in talks with China's national oil firms, including PetroChina, and second-tier firms to sell a modest stake in the linked Scarborough gas field and Pluto LNG Train 2 project.
The $11 billion Nord Stream 2, led by Russia's state energy company Gazprom, would double its existing pipeline capacity to take gas undersea to Europe via Germany.
Ongoing pandemic will make it more difficult for the cartel to support the market.
Oil prices surged about 8% on Nov. 9, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine.