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New Technology Is Fueling America’s Oil Boom

New Technology Is Fueling America’s Oil Boom

The US achieved record-breaking oil…

Big Oil Grows Bolder in Transition Pushback

Big Oil Grows Bolder in Transition Pushback

Several big oil executives at…

Energy / Crude Oil

Goldman Sachs: Oil Demand Could Exceed Supply By End-May

May 08, 2020 at 09:04 | Irina Slav

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no…

Some Shale Drillers Are Restarting Production At $25 Oil

May 07, 2020 at 17:22 | Irina Slav

U.S. oil prices slumped into negative territory less than a month ago as storage space fills up fast. And yet it appears that some producers are ready to…

U.S. Oil Companies Are Cutting Production Much Faster Than Expected

May 07, 2020 at 14:14 | Julianne Geiger

The United States is on track to cut 1.7 million barrels of oil production per day, according to Reuters calculations of state and company data shared on Thursday. It was U.S.…

The Only Hotspot Where Big Oil Will Still Spend

May 07, 2020 at 14:00 | Tsvetana Paraskova

Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of…

Why Is Russian Crude So Expensive?

May 07, 2020 at 11:16 | Viktor Katona

One of the main reasons why the coronavirus-induced price slump feels so odd is that it is accompanied by a prolonged price war that has simultaneously dropped crude differentials, in…

Saudi Arabia Raises Oil Prices As Demand Recovers

May 07, 2020 at 10:51 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco raised the price for all its crude oil grades to all regions for June in a move that analysts see as the start of demand…

China’s Oil Imports Soar In April

May 07, 2020 at 09:09 | Irina Slav

China crude oil imports increased in April to about 9.84 million bpd as demand for fuels began to rebound, Reuters reports, citing customs data. The country’s overall exports posted an…

The Shale Basins That Have Been Hit Hardest By The Oil Price Crash

May 06, 2020 at 14:46 | Tsvetana Paraskova

It might sound like a headline about Canada’s oil industry or Venezuela’s, but even the most prolific basins in the U.S. shale patch are crumbling under the weight of low…

The Unnoticed Power Grab Unfolding In Libya’s Oil Crescent

May 06, 2020 at 12:48 | Viktor Katona

Coronavirus coverage might overshadow the recent developments in Libya, yet rarely has the situation on ground been more complex and difficult to predict. Field Marshal Khalifa Haftar first announced that…

Saudi Arabia Succeeds In Seizing Oil Market Share From Key Rivals

May 06, 2020 at 10:45 | Tsvetana Paraskova

The Saudi-Russian oil price war may be officially over with the new, historic, OPEC+ deal, but Saudi Arabia has continued to aggressively pursue additional market share in Asia and managed…

Oil Prices Bounce Back On Smaller-Than-Expected Crude Build

May 06, 2020 at 09:43 | Irina Slav

The Energy Information Administration reported a crude oil inventory build of 4.6 million barrels for the week to April 24, after a 9-million-barrel build the previous week. This compared…

Is An Oil Supply Shortage Inevitable?

May 05, 2020 at 17:21 | Nick Cunningham

Oil prices are rising as supply shut ins mount and oil demand seems to be turning a corner. Some oil market analysts even warn that a supply deficit…

Why Russia Finally Accepted Deeper Oil Output Cuts

May 05, 2020 at 14:56 | Irina Slav

When Russia refused two months ago to join the deeper OPEC oil cuts, it was because Moscow found them unnecessary. Two months later, Russia agreed to cut quite…

Aviation Crisis Could Cause Lasting Damage To Oil Markets

May 05, 2020 at 11:01 | Irina Slav

Last Friday, Warren Buffett served a new blow to an already troubled industry, shaking it to the core: The celebrity investor announced that…

The Texas Oil Production Cut Plan Is Dead

May 05, 2020 at 09:06 | Irina Slav

Ryan Sitton, the Texas Railroad Commissioner who first floated the idea of state-mandated oil production cuts, has thrown in the towel after failing to convince his two co-commissioners…

Will Oil Markets Ever Recover?

May 04, 2020 at 17:41 | Tsvetana Paraskova

Oil companies, oil refiners, and oil traders believe that the worst of the demand destruction is already behind us. But the jury is still out on how long…

Shell Has A Dire Warning For Oil Markets

May 04, 2020 at 14:00 | Alex Kimani

After months of a deep and harrowing slide, fuel demand across the world is finally starting to sputter back to life. Traffic data, pipeline…

Oil Price Crash Forces Algeria To Cut State Budget By 50%

May 04, 2020 at 12:04 | Tsvetana Paraskova

OPEC member Algeria has decided it would slash its budget for this year by 50 percent, due to the drastically lower income from oil after the price crash. Algeria –…

The Most Critical Oil Storage In The United States

May 01, 2020 at 16:51 | Irina Slav

“Cushing, Oklahoma: Pipeline Crossroads of the World.” The emblematic slogan of the Cushing oil hub does not exaggerate. Cushing, a town of several thousand, has become a media…

The Oil Wells That Will Never Recover

Apr 30, 2020 at 18:04 | David Messler

It is very common today to read about shutting-in of producing oil and gas wells to reflect the reality there are fewer and fewer places

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