Latest news with #BobMcNally
Yahoo
10-07-2025
- Business
- Yahoo
McNally on OPEC+ Production Increase, Oil Price, Tariffs
Bob McNally, Rapidan Energy Group founder and president, discusses OPEC+'s recent decision to increase oil production for the month of August. He also talks about oil prices outlook, non-OPEC production, as well as the potential impact on markets coming from trade and tariff uncertainty. McNally speaks to Bloomberg's Joumanna Bercetche in Vienna, Austria. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The National
09-07-2025
- Business
- The National
Russia and Iran set to be key issues at Opec meeting in Vienna
Bob McNally, the president of Rapidan Energy, tells The National's Manus Cranny that Russia and Iran are set to dominate conversations at Opec's International Seminar in Vienna this week. Mr McNally says President Trump is walking a fine line between preventing Iran from acquiring a nuclear bomb but also keeping negotiation channels with Tehran open for the sake of global oil prices.
CNBC
09-07-2025
- Business
- CNBC
Next flash point is whether a deal can be reached with Iran: McNally
Founder & President of Rapidan Energy Group and Former White House Energy Advisor to President George W. Bush, Bob McNally joins CNBC's Dan Murphy at the OPEC International Seminar in Vienna to discuss the outlook for crude, and the next flash point the market should be watching for.
Bloomberg
09-07-2025
- Business
- Bloomberg
McNally on OPEC+ Production Increase, Oil Price, Tariffs
Bob McNally, Rapidan Energy Group founder and president, discusses OPEC+'s recent decision to increase oil production for the month of August. He also talks about oil prices outlook, non-OPEC production, as well as the potential impact on markets coming from trade and tariff uncertainty. McNally speaks to Bloomberg's Joumanna Bercetche in Vienna, Austria. (Source: Bloomberg)
Calgary Herald
24-06-2025
- Business
- Calgary Herald
Varcoe: Amid Middle East conflict, oil prices gyrate wildly and Canadian producers assess spending
The spiralling conflict in the Middle East triggered a sudden whipsaw in global oil prices to start the week, dropping by more than US$5 a barrel on Monday despite concerns about potential supply interruptions in the critical Strait of Hormuz. Article content And the Canadian oilpatch is keeping a close eye on the clash in the region, and its impact on energy markets. Article content Article content After the U.S. bombed underground nuclear installations in Iran over the weekend, prices for West Texas Intermediate (WTI) crude shot up briefly Sunday evening above US$75 a barrel. Article content Article content Yet, U.S. benchmark oil prices tumbled $5.33 to close at US$68.51 a barrel on Monday as oil markets tried to assess the risk to global supplies, even as Iran reportedly fired missiles at a U.S. base in Qatar. Article content Article content Iran said the missile attack on a base matched the number of bombs fired by the U.S. at its nuclear sites, indicating a 'likely desire to de-escalate,' the Associated Press reported, while U.S. President Donald Trump later posted on social media that Iran and Israel had agreed to a ceasefire. Article content 'Once again, the major powers are stepping back from causing a major oil disruption,' Bob McNally, president of Rapidan Energy Group, said in an interview from Houston on Monday. Article content A report by consultancy Rystad Energy noted the situation remains fluid and energy markets were 'pricing the potential de-escalation.' Article content Article content 'We are watching for certainly any retaliatory acts that would damage oil production, oil refining facilities . . . We're also looking at the Strait of Hormuz and whether Iran is going to try to block the strait using military power.' Article content Article content Oil prices surged over the past two weeks after Israel fired missiles at nuclear facilities in Iran — it's one of the largest oil producers in OPEC. Article content While Iran exports about 1.5 million barrels per day (bpd) of oil, analysts have been focused on any potential impact on the Strait of Hormuz, the gateway to and from the Persian Gulf. Article content The strait, which touches Iran to the north and Oman to the south, saw an average of 20 million barrels per day — or one-fifth of global petroleum liquids consumption — move through it last year, according to the U.S. Energy Information Administration.
