• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days If hydrogen is the answer, you're asking the wrong question
  • 20 hours How Far Have We Really Gotten With Alternative Energy
  • 11 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Breaking News:

Oil Prices Gain 2% on Tightening Supply

Energy / Crude Oil

Trump Vows To Revive U.S. Oil Industry

Jul 30, 2020 at 09:06 | Tsvetana Paraskova

U.S. President Donald Trump touted America’s energy independence and vowed that the oil industry will never again be reliant on hostile foreign suppliers in a speech in Midland, Texas.…

Why Iran And China Are Pushing Iraq To Boost Oil Production

Jul 29, 2020 at 17:29 | Simon Watkins

There are four key reasons why Iraq is increasing the pace of development on a number of its major oil fields right now. First, it needs the money;…

The Cowboy State Looks To Stimulate Oil Drilling With Tax Cuts

Jul 29, 2020 at 13:02 | Charles Kennedy

Wyoming regulators look to stimulate oil production in the state with a new tax relief proposal that calls for a tax exemption until the price of WTI reaches $45 per…

Oil Rallies On Biggest Crude Inventory Draw Since 2019

Jul 29, 2020 at 09:52 | Irina Slav

U.S. crude oil inventories shed an impressive 10.6 million barrels in the week to July 24, the Energy Information Administration reported today. This compares with a build of…

U.S. Refiners Brace For Ugliest Losses In A Decade

Jul 29, 2020 at 09:02 | Tsvetana Paraskova

Due to the demand crash in the lockdown, the seven largest independent oil refiners in the United States are expected to report losses for the second quarter that would be…

Oil Buyers Profit From A Wave Of Cheap Fuel

Jul 28, 2020 at 16:03 | Irina Slav

The downstream industry has been affected particularly severely by the unique combination of events that unfolded this year. On the one hand, the coronavirus pandemic decimated demand for…

Record Volumes Of Cheap U.S. Crude Oil Are Headed To Asia

Jul 28, 2020 at 14:26 | Tsvetana Paraskova

A record volume of U.S. crude oil is set to arrive in China and the rest of Asia this month as buyers rushed to snap up cheap oil earlier this…

Oil Markets Face New Glut As OPEC Prepares To Open The Taps

Jul 28, 2020 at 11:01 | Rystad Energy

The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals.…

OPEC May Have To Adapt To Lower-For-Longer Oil Demand

Jul 28, 2020 at 09:02 | Tsvetana Paraskova

OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next…

China Signs Series Of Deals To Develop Supergiant Oilfield In Iran

Jul 27, 2020 at 17:11 | Simon Watkins

Two key questions logically arise from last week’s announcement from Iran’s Petroleum Ministry that it has awarded a US$1.3 billion development deal to more than double oil production…

How One Oil Major Excelled As Prices Crashed

Jul 27, 2020 at 16:57 | Alex Kimani

When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get rid of the huge…

Microsoft And Halliburton Are Building The Oilfield Of The Future

Jul 27, 2020 at 15:51 | David Messler

The oilfield has historically been a place where brawny men, and mighty machines came together to bore holes deeply into the earth to wrest stores of oil and…

Jet Fuel Crisis Will Hurt Oil Demand For Years To Come

Jul 27, 2020 at 14:22 | Tsvetana Paraskova

A very slow recovery in jet fuel demand will drag on global oil demand for at least another two years as overall passenger traffic numbers continue to be…

Can Oil Save Ecuador’s Economy?

Jul 27, 2020 at 13:47 | Matthew Smith

For decades, oil rich Ecuador proved to be a risky and unprofitable jurisdiction for foreign companies seeking to tap its vast mineral wealth. This peaked with the $9.5…

Oil Prices In Limbo As Fears Of A Second COVID Wave Grow

Jul 27, 2020 at 11:13 | Yousef Alshammari

Oil markets sent some mixed signals last week as bullish and bearish data continued to influence prices. The COVID-19 situation in the United States raised some uncertainty over the prospects…

Trump Heads To Texas To Discuss U.S. Energy Dominance

Jul 27, 2020 at 09:00 | Irina Slav

President Donald Trump is visiting Texas this week, to raise money for the Republican Party and discuss the country’s energy-dominance agenda with the local oil industry. Trump’s energy agenda was one…

The Second Wave Of COVID Won’t Crush Oil Markets

Jul 24, 2020 at 17:58 | Rystad Energy

As Covid-19 infections continue to increase around the world and the implications of the pandemic’s spread are acknowledged in key markets in the Americas and Asia, Rystad Energy…

Big Oil Braces For Brutal Earnings Season

Jul 24, 2020 at 17:49 | Nick Cunningham

The oil majors are set to unveil their second-quarter earnings in the coming days, and analysts expect the figures to be pretty rough. Despite their size, the integrated…

Brazil’s Oil Giant To Boost Production At Deepwater Field

Jul 24, 2020 at 16:42 | Charles Kennedy

Brazil’s state-held oil firm Petrobras launched on Friday a tender for three new Floating Production Storage and Offloading (FPSOs) units for one of the largest deepwater oilfields in the world, Búzios,…

Is The Bottom Finally In Sight For U.S. Drilling Rigs?

Jul 24, 2020 at 12:22 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 2, to 251, marking the twentieth straight loss in…

Oilprice - The No. 1 Source for Oil & Energy News