Bloomberg, Oil rose to its highest in more than a week after economic data from China to the U.S. fueled optimism that factories are getting back to work. U.S. benchmark crude futures gained 2.7% Tuesday in New York, alongside a rally in U.S. and European equities. Chinese retail sales rose for the first time this year in August, while industrial production expanded more than expected. In the U.S., manufacturing in…

UK oil companies will struggle to find semi-subs for work in 2021. That’s according to Teresa Wilkie - an offshore rig market analyst for offshore rig brokerage, advisory and project development company Bassoe Offshore – who made the statement in a report posted on the company’s website last week. “Exploration and production companies planning drilling campaigns in British waters next year could face a surprisingly small selection of semi-subs to…

Bloomberg - Global oil demand won’t return to 2019 levels until at least 2022 and the gap may be getting wider than it seemed a month ago. All three of the world’s main oil forecasting agencies — the International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries — published new quarterly forecasts this week and none project oil demand back at 2019 levels by…