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Breaking News:

China May Clip Teapot Refiners’ Wings

Energy

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Oil Rises As Saudis Move To Implement Output Cuts

Dec 09, 2016 at 13:39 | Matt Smith

Oil prices remain bid up into the weekend, as the market adopts the first part of the motto 'buy the rumor, sell the fact' ahead of tomorrow's OPEC / NOPEC…

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The OPEC Effect? U.S. Rig Count Spikes Most In 31 Months

Dec 09, 2016 at 12:42 | Julianne Geiger

The number of oil and gas rigs in the United States was up again this week, with an increase of 27. Active oil rigs in the United States increased by…

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Saudi Arabia Cuts Oil Deliveries To U.S.

Dec 09, 2016 at 11:58 | Irina Slav

Saudi Arabia has informed its clients that their crude oil deliveries in January will be lower, to reflect the country’s compliance with the production cut agreed on by OPEC members…

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OPEC Deal Not Enough To Draw Down Record Oil Inventories

Dec 09, 2016 at 11:16 | Tsvetana Paraskova

Even if OPEC producers’ ministers hail the cartel’s deal to cut collective supply as the beginning of oil market rebalancing and stabilization, Bloomberg News has calculated that global oil…

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Japan Importing Less Crude Oil; Gives Iran, Russia Cold Shoulder

Dec 09, 2016 at 09:07 | Tsvetana Paraskova

Japan’s crude oil imports dropped to 3.055 million barrels per day in October, down by 5.6 percent from September, the Petroleum Association of Japan (PAJ) said on Friday. According…

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Oil Markets Not Convinced OPEC Deal Can Kill The Glut

Dec 08, 2016 at 17:11 | Nick Cunningham

There are serious questions swirling around OPEC’s production cut deal, ranging from the size of the cuts needed given that production from the cartel rose through November, to the prospect…

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Filling The Gap: Tomorrow’s Most Popular Oil Trade

Dec 08, 2016 at 17:04 | Rakesh Upadhyay

Credit Suisse AG recently decided to delist two very popular and risky oil exchange-traded notes (ETNs) on the exchanges beginning today, December 8, and companies are now scrambling to fill…

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Did Big Oil Layoff Too Many Workers Too Quickly?

Dec 08, 2016 at 16:21 | Irina Slav

What was once a mere warning to the oil industry has now become a reality: the severe cost cuts undertaken by virtually every oil and gas business in the world…

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BP CEO Dudley: We’ll Double Our North Sea Oil Production By 2020

Dec 08, 2016 at 15:51 | Tsvetana Paraskova

UK’s oil major BP (NYSE:BP) will double its production in the North Sea to 200,000 barrels of oil per day, chief executive Bob Dudley said in an interview with

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More Federal Land Drilling: Possible, But Not Profitable

Dec 08, 2016 at 14:53 | Peter Taberner

As the United States catches its breath following the shock election victory of Donald Trump, the oil industry could be facing significant changes, including the President elects’ open door policy…

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