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Energy / Crude Oil

Saudi Arabia’s Newest Strategy To Send Oil Prices Higher

Aug 16, 2019 at 15:18 | Tsvetana Paraskova

The world’s top crude oil exporter, Saudi Arabia, has been cutting for nearly two years its production and shipments as per OPEC’s deal, in which, being the cartel’s largest oil…

OPEC Oil Production Continues To Slide As Saudis Cut Deeper

Aug 16, 2019 at 09:14 | Tsvetana Paraskova

OPEC’s crude oil production fell by another 246,000 bpd in July compared to June, as Saudi Arabia deepened its cuts, as U.S. sanctions further trimmed output in Iran and Venezuela,…

OPEC Needs Another 1 Million Bpd Cut To Boost Oil Prices

Aug 15, 2019 at 12:30 | Tsvetana Paraskova

In the current gloomy market sentiment, OPEC would need to deepen the production cuts by 1 million barrels per day (bpd) if the cartel wants to move up the price…

Will We See An Oil Supply Glut In 2020?

Aug 14, 2019 at 17:04 | Nick Cunningham

Oil prices seem to be in big trouble, with a supply glut set to hit the market in 2020 and a potential economic recession looming. One of…

Saudi Arabia And Russia Unlikely To Agree On New Oil Cuts

Aug 14, 2019 at 13:11 | Vanand Meliksetian

OPEC is dead, long live OPEC+. Arguably the collaboration between the world's two largest exporters of oil, Russia and Saudi Arabia, is a significant development caused by and comparable to…

China Still Reluctant To Buy U.S. Crude Oil

Aug 14, 2019 at 11:44 | Tsvetana Paraskova

The end of the truce in the U.S.-China trade war and the highly unpredictable nature of the next moves in the trade spat have made traders in China even more…

Shale Pioneer Hamm Calls For Production Slowdown

Aug 14, 2019 at 10:31 | Irina Slav

U.S. shale producers need to slow down with production growth and focus more on capital discipline in an oversupplied market, Continental Resources’ Harold Hamm told the audience at the EnerCom…

Oil Erases Gains On Crude Inventory Build

Aug 14, 2019 at 09:41 | Irina Slav

Crude oil prices fell further down today after the Energy Information Administration reported a 1.6-million-barrel build in crude oil inventories for the week to August 9. This compares with…

Crude Oil Markets Brace For Fuel Market Disruption

Aug 13, 2019 at 14:38 | Tsvetana Paraskova

The oil market is grappling with a lot of uncertainties in both supply and demand side factors, but one certainty sure to affect oil markets, refiners, and price differentials is…

Will Shale Rise From The Dead?

Aug 12, 2019 at 11:57 | Kurt Cobb

A flurry of coverage about the gloom and outright calamity in the shale oil business appeared last week. Low prices continue to dog the industry. But so does lack of…

Saudi Aramco’s First Ever Disclosure Shows $47 Billion Profit

Aug 12, 2019 at 10:57 | Tsvetana Paraskova

Saudi Aramco announced for the first time financial results on Monday, reporting a net income of US$46.9 billion for the first half of 2019, down by 12 percent from…

The ‘Cowboy State’ Oil Boom Is Falling Behind

Aug 09, 2019 at 13:27 | Tsvetana Paraskova

A year ago, the Powder River Basin in northeastern Wyoming was thought to be the next hot thing in U.S. shale with land acquisition costs lower than in the…

Venezuela Plans Oil Production Boost Amid Worsening Crisis

Aug 09, 2019 at 10:16 | Irina Slav

Venezuela plans to increase its oil production by 65,000 bpd by expanding the output of a joint venture between PDVSA and China’s CNPC, Reuters reports, quoting a statement by…

Saudis Keeping Oil Exports Down To Combat Falling Prices

Aug 08, 2019 at 11:25 | Tsvetana Paraskova

Despite healthy demand in all regions, the world’s top crude oil exporter Saudi Arabia continues to keep its exports below the 7-million-bpd mark and will do so at least through…

Saudis Scramble To Arrest Oil Price Slide

Aug 08, 2019 at 09:20 | Irina Slav

Saudi Arabia has approached other members of OPEC to discuss possible steps they can take to arrest a slide in oil prices that have brought them to the lowest in…

The Bullish EIA Message Markets Have Overlooked

Aug 07, 2019 at 14:19 | Nawar Alsaadi

Demand growth fears have had a detrimental impact on crude prices over the last couple of days, with Brent dipping firmly under $60 a barrel and WTI racing towards the…

Shale Bloodbath Continues: Continental Loses Half Its Market Value In 10 Months

Aug 07, 2019 at 11:49 | Tsvetana Paraskova

Continental Resources has lost around US$15 billion of its market capitalization since October 2018—more than half of its market value that now stands at around US$12 billion, in the latest…

EIA Lowers World Oil Demand Forecast Again

Aug 07, 2019 at 09:56 | Julianne Geiger

The US Energy Information Administration lowered on Tuesday its oil demand outlook for 2019 to 1 million barrels per day, according to Reuters. The forecast comes on top of…

Oil Prices Slide On Surprise Crude Build

Aug 07, 2019 at 09:42 | Irina Slav

The Energy Information Administration reported a 2.4-million-barrel build in crude oil inventories for the week to August 2, shattering expectations of another sizeable draw. Analysts had expected a draw…

Hedge Funds Turn Their Back On Oil

Aug 06, 2019 at 16:14 | Tsvetana Paraskova

Speculative positions in the oil market were precariously balanced between bullish and bearish bets in the week to July 30 as money managers were divided in their response…

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