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Energy / Crude Oil

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Oil Prices Rise As Saudi Arabia Attacks The Glut

Jul 28, 2017 at 11:05 | Matt Smith

Back in late May, Saudi Oil Minister Khalid Al-Falih said that 'exports to the U.S. will drop measurably', as the OPEC Kingpin adjusted its focus to reducing exports to…

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Goldman Sachs: Oil Market To Rebalance By Early 2018

Jul 28, 2017 at 10:09 | Tsvetana Paraskova

Recent data show that the rebalancing of the oil market is speeding up and if the drawdown trends are sustained, stockpiles will normalize by early 2018, Goldman Sachs said…

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Never Again: Big Oil Is Back And Practicing Caution

Jul 27, 2017 at 14:27 | Nick Cunningham

Royal Dutch Shell posted much better-than-expected earnings for the second quarter, a sign that the oil majors are adapting to a low oil price environment. Net profit jumped to $3.6…

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Barclays: Oil Could Rise By $7 If U.S. Sanctions Venezuela

Jul 27, 2017 at 14:26 | ZeroHedge

As discussed over the weekend, the endgame in Venezuela is accelerating and it is now only a matter of time before the Maduro regime exits, stage left, the only…

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Could Brazil Derail The OPEC Deal?

Jul 27, 2017 at 11:53 | Ron Patterson

Brazil is a major oil producing country, but in 2016 was still a net importer, though imports dropped significantly and they have been a slight exporter overall so far this…

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Oil Rises, But Saudis Face Daunting Dilemma

Jul 26, 2017 at 16:41 | Zainab Calcuttawala

OPEC producers have reached a catch-22 in their quest to rebalance global supply fundamentals for their precious crude oil markets. While deeper cuts are necessary to bring supply and…

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Indonesia May Return To OPEC But Won’t Cut Production

Jul 26, 2017 at 11:37 | Irina Slav

Indonesia is open to rejoining OPEC, but only if it can determine its own production levels, the country’s Energy and Mineral Resources Minister Ignasius Jonan told Reuters in an…

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Strong Draw In Crude Inventories Boosts Oil Prices

Jul 26, 2017 at 09:50 | Irina Slav

The Energy Information Administration once again helped to lift oil market spirits this week by reporting another hefty decline in U.S. commercial crude oil inventories for the week ending…

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Russian Oil Minister: Global Glut Shrunk By 350 Million Barrels

Jul 25, 2017 at 09:39 | Irina Slav

Russia’s Energy Minister Alexander Novak said yesterday that over the last six months, global crude oil supply has shrunk by 350 million barrels thanks to the production-cutting efforts of…

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Nigeria Ups Oil Output Despite Rampant Oil Theft

Jul 24, 2017 at 13:42 | Irina Slav

Things have been mostly good for Nigeria’s oil industry in recent months. The government negotiated a peace with the militants that wreaked havoc on the oil transport infrastructure in the…

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