Oil prices are likely to fall below $80 a barrel even with OPEC’s recent apparent efforts to support that level with unexpected cuts, according to Ed Morse, global head of commodities research at CitiGroup.
Six Wall Street banks are being pressed by a group of shareholders to move faster on reducing their financing of fossil fuels to meet global climate goals.
Saipem (MI:SPM) shares have plunged around 70% from July 11 after the company acknowledged demand for additional shares was less than expected.
OPEC+’s hotly anticipated output meeting on Thursday underwhelmed the market, with oil prices closing up after the decision.
Citigroup is among the banks leading the planned initial public offering of Saudi Aramco Base Oil, a unit of the state-controlled oil producer, according to people familiar with the matter.
For the first time since the West’s five energy supermajors were created in the early 2000s, all of them are set to post a quarterly loss.
The threat of a no-deal Brexit is back -- and with it the risk that the U.K. economy’s shaky recovery from the coronavirus pandemic will be hobbled.
Oil jumped more than 11% in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10 million barrels a day of global production being discussed.
Saudi Arabian Oil Co. is set to appoint Goldman Sachs Group Inc. and Citigroup Inc. to help manage its initial public offering, people familiar with the matter said, as the state-owned crude producer pushes ahead with what could be the world’s largest share sale.
JP Morgan Chase is entering into the renewables market in an attempt to offset its own power usage.
Saudi Arabia’s planned privatisations, including a share sale in the world’s biggest oil company, represent the biggest investment banking opportunity in emerging markets, according to Citigroup Inc.
The commodities market has turned a corner and prices are unlikely to return to lows seen in the first quarter, according to Citigroup Inc., which boosted forecasts from metals to grains amid an oil-led recovery.
Stick with oil, it’s could be the “trade of the year,” according to Citigroup Inc. The outlook for crude isn’t all bad, even as prices head for the worst start to a year since 1991 and there are dire warnings of the world drowning in supply. Forecasters from UBS Group AG to Societe Generale SA are predicting a rebound in the second half and Citigroup says the market just needs to weather a surge of exports from Iran after the removal of sanctions.
The retrenchment in drilling for US oil is threatening to leave a different market short: natural gas.