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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Is U.S. Shale Production Finally Nearing Its Peak?

Is U.S. Shale Production Finally Nearing Its Peak?

U.S. shale oil production could…

Pump Prices Set to Hit $4 a Gallon

Pump Prices Set to Hit $4 a Gallon

U.S. oil prices surpass $80…

Energy / Crude Oil

BP Pulls Out Of China’s Shale Patch

Apr 11, 2019 at 10:38 | Tsvetana Paraskova

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,…

Shale Jobs In Jeopardy Despite Oil Price Rally

Apr 10, 2019 at 16:32 | Nick Cunningham

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…

Oil Rallies As OPEC Production Falls

Apr 10, 2019 at 14:00 | Ron Patterson

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 Oil Output Dips To Four-Year Low As Cartel Tightens Market

Apr 10, 2019 at 10:59 | Tsvetana Paraskova

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…

Oil Rallies Despite Large Crude Build

Apr 10, 2019 at 09:43 | Irina Slav

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…

Smart Money Is Piling Into Oil

Apr 09, 2019 at 17:28 | Nick Cunningham

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…

Shell Ventures Into China’s Shale Oil

Apr 09, 2019 at 10:58 | Tsvetana Paraskova

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…

Has Brazil's Oil Boom Been Overstated?

Apr 08, 2019 at 16:41 | Nick Cunningham

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 & Gas Discoveries On The Rise As Oil Majors Dive In

Apr 08, 2019 at 10:31 | Rystad Energy

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…

Nigeria Boasts Oil Production Cost of $23 Per Barrel

Apr 08, 2019 at 09:31 | Irina Slav

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…

Platts Survey: OPEC Oil Production Down To More Than 4-Year Low

Apr 05, 2019 at 16:19 | Tsvetana Paraskova

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 Threatens To Drop Dollar For Oil Trades

Apr 05, 2019 at 10:15 | Irina Slav

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…

Russia Seeks New Arctic Oil Frontier

Apr 04, 2019 at 17:08 | Tsvetana Paraskova

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…

Why Oil Markets Need New OPEC+ Cuts

Apr 04, 2019 at 10:15 | Rystad Energy

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…

Canadian Wildcatters Win Big On Alberta’s Oil Cuts

Apr 03, 2019 at 16:57 | Irina Slav

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,…

Oil Falls On Large Crude Inventory Build

Apr 03, 2019 at 09:46 | Irina Slav

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…

Aramco’s Mythical Ghawar Field Could Be Its Weak Spot

Apr 02, 2019 at 16:47 | Nick Cunningham

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…

China Can’t Get Enough Of Brazilian Crude

Apr 02, 2019 at 12:40 | Haley Zaremba

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…

Alberta Oil Inventories Rise Despite Production Cuts

Apr 02, 2019 at 11:14 | Irina Slav

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…

Oil Prices Spike On Shale Slowdown

Apr 01, 2019 at 18:58 | Nick Cunningham

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…

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