OPEC Compliance Stutters As Saudi Arabia Increases Production
In the newest Monthly Oil…
Ecuador Abandons The OPEC Deal: Who’s Next?
Ecuador has announced that it…
Energy / Crude Oil
Strong Draw In Crude Inventories Boosts Oil Prices
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…
Russian Oil Minister: Global Glut Shrunk By 350 Million Barrels
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…
Nigeria Ups Oil Output Despite Rampant Oil Theft
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…
OPEC’s No.2 Goes Rogue, Plans To Pump 5 Million Bpd
Iraq’s crude oil output could hit 5 million barrels daily by the end of the year, the country’s Oil Minister Jabar al-Luaibi told Iraqi media, adding that these projections…
OPEC Won’t Prevent Nigeria, Libya From Increasing Oil Output
OPEC seems to be willing to let exempt members Libya and Nigeria boost their crude oil output further before asking them to join the supply control deal aimed at propping…
Libya’s Oil King Won’t Be Stopped By OPEC
Conflict-torn Libya, divided between rival factions in the east and the west, recently reached 1 million bpd of crude oil output—for the first time since 2013. The oil production…
New Tanker Regulations May Impact Oil Prices
The advent of super oil tanker ships and giant freight carriers, along with upcoming rules on sulfur used in marine vessel fuel, are expected to influence demand and pricing in…
This Oilfield Services Company Is A Buy
This morning, oilfield services giant Schlumberger (SLB) announced results for Q2 2017. SLB has dropped around twenty-five percent since the beginning of the year as the effects of the capex…
OPEC Deal At Breaking Point As Compliance Falls
WTI has traded in a $3.90 range so far in July ($43.65 / $47.55) and the sideways price action has lead to waning market enthusiasm for bulls, bears and option…
U.S. Oil Rig Count Falls By 1 As Canada Adds 15 Rigs
The number of active oil rigs in the United States fell this week by 1 rig—it’s second loss in four weeks, and its third loss this year—in a sign…
