AI and other tech could…
The U.S. upped the ante…
Having just recently agreed a new production quota, which along with vaccine hype has spurred oil prices to their highest since March, OPEC just reduced projections for global fuel consumption in…
Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 12 to 338. The total number of active oil and gas rigs increased…
After a week of contentious OPEC+ discussions, in which the UAE played a key role, it appears that the Abu Dhabi National Oil Company (ADNOC) is now aggressively…
The pandemic-inflicted oil demand crash and price collapse did not spare any segment of the oil industry. U.S. drillers and refiners cut oil and fuel production after demand…
The energy industry has been plagued by the sharp and deep drop in oil demand for months, and the outlook does not look too good either—with or without…
The oil-producing subsidiary of Russian state gas giant Gazprom, Gazprom Neft, has announced that it plans to launch a fourth well at the Sarqala field in Iraq’s semi-autonomous region of…
One of the world’s biggest commodity traders, privately held Trafigura, delivered record core earnings in what became its strongest trading year ever due to the extreme oil market swings earlier…
"There is a massive amount of lithium on earth...there really is enough lithium in Nevada alone to electrify the entire U.S. fleet." Elon Musk, Tesla CEO.…
While oil-producing nations are scrambling to plug budget shortfalls after the price crash, oil importers are benefiting from the low oil prices, and some of them are hedging against higher…
Following Denmark’s announcement to halt its North Sea production last week, activists and regulators are calling on the U.K. to do the same. Critics argue the withdrawal from…
The Energy Information Administration reported today a massive crude oil inventory build of 15.189 million barrels for the week to December 4, after a modest draw of 700,000…
Russia has signaled it may be starting to prepare for a permanent decline in crude oil demand over the long term, even after the devastating effects of the…
BP has said it will invest heavily in Middle Eastern oil and natural-gas fields going into 2021. Despite pledging its transition to renewable energy, the company has highlighted…
It is oftentimes said that the Middle East is the most complicated region in our world, however the Southern Caucasus would certainly take issue with that assumption. The…
Iraq will draft its budget based on an average oil price of $42 per barrel for next year, oil minister Ihsan Abdul Jabbar Ismail said this weekend at an event…
Fitch Ratings said it expected Brent crude to average $45 a barrel next year, following OPEC+’s decision to start raising production by 500,000 bpd monthly from January 2021. “We expect…
The current year marks the 15th anniversary of the U.S. shale boom, a period in which fracking technology across such states as Texas, Colorado, New Mexico, North Dakota, and Wyoming…
After much debate, the OPEC+ group has finally reached an agreement on oil production for next year. Or at least for January. OPEC+ will, as a group, add in 500,000…
The oilfield service (OFS) market is projected to lose a cumulative $340 billion in purchases value over the next eight years, a Rystad Energy analysis shows, as peak…
OPEC+ is discussing the possibility of starting to raise its collective oil production from January, the Wall Street Journal reported, citing unnamed sources familiar with the discussions. The extended…