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Energy / Crude Oil

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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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OPEC’s No.2 Goes Rogue, Plans To Pump 5 Million Bpd

Jul 24, 2017 at 10:07 | Irina Slav

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…

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OPEC Won’t Prevent Nigeria, Libya From Increasing Oil Output

Jul 24, 2017 at 09:28 | Irina Slav

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…

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Libya’s Oil King Won’t Be Stopped By OPEC

Jul 21, 2017 at 16:53 | Tsvetana Paraskova

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…

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New Tanker Regulations May Impact Oil Prices

Jul 21, 2017 at 16:43 | Jon LeSage

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…

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This Oilfield Services Company Is A Buy

Jul 21, 2017 at 16:09 | Martin Tillier

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…

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OPEC Deal At Breaking Point As Compliance Falls

Jul 21, 2017 at 15:57 | SCS OTC Corp

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…

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U.S. Oil Rig Count Falls By 1 As Canada Adds 15 Rigs

Jul 21, 2017 at 12:38 | Julianne Geiger

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…

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