oil

It Was 51.7 Degrees in Baghdad This Week

It Was 51.7 Degrees in Baghdad This Week

As the worldwide feast and celebration for Muslims around the world known as Eid wrapped up on Thursday evening, the Middle East has been trapped in a scorching heat wave.

Peak Oil Isn’t Here But It Could Be In Sight

Peak Oil Isn’t Here But It Could Be In Sight

The huge drop-off in demand for oil because of the coronavirus pandemic has some analysts talking about Peak Oil, something we’ve been talking about in these parts for what seems like forever. It still doesn’t seem likely to happen anytime in the near-term, though because of the slow rise of…

Oil Companies Are Spending A Fortune To Store Unused Crude At Sea

Oil Companies Are Spending A Fortune To Store Unused Crude At Sea

From airlines flying ghost flights to simultaneous food shortages and overproduction, coronavirus is making the absurdity of how markets function very clear. Now, amid the collapse of the global oil market, traders are spending millions of dollars a day to store a record amount of unused crude oil on giant…