U.S. shale oil production could…
U.S. oil prices surpass $80…
BP is set to become the latest international major to quit drilling for shale gas in China because of poor exploration drilling results so far, Reuters reported on Thursday,…
Oil prices are climbing to new heights, but many shale companies are not exactly riding high. U.S. shale drillers have run into a series of problems that have resulted…
The below OPEC charts were taken from data in the OPEC Monthly Oil Market Report. All data is through March 2019 and is in thousand barrels per day.
OPEC’s crude oil production dropped by more than 500,000 bpd month on month in March, to the lowest since February 2015, as Saudi Arabia followed through its commitment to cut…
Crude oil prices brushed off the Energy Information Administration inventory report today, which saw a 7-million-barrel build in crude oil inventories for the week to April 5. The authority…
Oil prices jumped to five-month highs this week, pushed higher by a bullish cocktail of supply outages, geopolitical unrest and a sputtering shale sector. The most recent factor is the…
Oil supermajor Shell has signed an agreement with China’s Sinopec to jointly study the potential development of shale oil in eastern China—one of the few international majors venturing into…
Recent hiccups for Brazilian oil supply call into question the growth projections for the country, with implications for the global oil market. Brazil’s oil production slipped by 65,000 bpd in…
Oil and gas exploration is off to a flying start in 2019, with majors taking a bigger bite of the conventional resources discovered in the first quarter, according to Rystad…
The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil…
Over-delivering Saudi Arabia and blackouts in Venezuela helped push OPEC’s crude oil production down by 570,000 bpd from February to 30.23 million bpd in March—the lowest production from the cartel…
Saudi Arabia has threatened the United States to stop using dollars for its oil trades in an attempt to discourage legislators from passing a bill dubbed NOPEC aimed at holding…
Rosneft, Russia’s state-controlled oil company and the largest oil producer in the country, plans to develop an Arctic cluster of oil fields over the next five years. These plans by…
As oil prices approach $70 a barrel, Rystad Energy expects that a short-lived price rally through the first half of 2020 will then lose momentum and be…
The last year or so has not been kind to Canadian oil producers. Output has been rising as international prices stabilized at higher levels, but pipeline capacity has not changed,…
Crude oil prices fell today after the Energy Information Administration reported an inventory increase of 7.2 million barrels for the week to March 29. This compared with a 2.8-million-barrel…
Some of the most secretive, highly-anticipated details about the Saudi oil industry have just been released. Saudi Aramco is preparing to launch a major bond issuance to purchase the Saudi…
As the United States leans into sanctions against Venezuelan oil and the administration of contested president Nicolas Maduro, longtime PDVSA buyers have had to look to other Latin American countries…
Crude oil inventories in Canada’s oil province Alberta rose in February despite a government-imposed production cut aimed at propping up the price of Canadian crude and reducing excess supply in…
The collapse of oil prices late last year, along with pressure from shareholders, has led to a slowdown in the U.S. shale industry. The EIA released new monthly data…