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Biden Administration's SPR Plans Derailed by Oil Price Surge

Biden Administration's SPR Plans Derailed by Oil Price Surge

The Biden Administration cancels planned…

Oil Fund Withdrawals Suggest Extended Price Rally

Oil Fund Withdrawals Suggest Extended Price Rally

Investors are ditching the oil…

Energy / Crude Oil

Oil Heads Lower On Small Inventory Build

Feb 06, 2019 at 09:40 | Irina Slav

A day after the American Petroleum Institute disappointed oil bulls by reporting an estimated inventory build across the board, the Energy Information Administration deepened the mood by saying U.S.…

Hedge Funds Drop Shorts On Crude Oil

Feb 05, 2019 at 17:01 | Tsvetana Paraskova

Hedge funds and other money managers have started to shake off the gloomy expectations of a global recession and waning oil demand growth that had seized market participants for most…

China Faces An Uphill Battle For Energy Independence

Feb 05, 2019 at 16:15 | Tim Daiss

A Reuters report last week examining China's renewed oil and gas exploration and production push should make the country’s oil majors, Beijing energy planners, and just about everybody else…

Venezuelan Oil Exports Plunge On ‘Harsher’ Sanctions

Feb 04, 2019 at 17:18 | Nick Cunningham

Venezuela’s oil production could be disrupted to a greater degree than most analysts first thought, as the U.S. government seeks essentially shut in the country’s oil sector.…

Big Oil Defies 40% Price Plunge, Posts Best Results In Years

Feb 04, 2019 at 17:08 | Tsvetana Paraskova

Despite the nearly 40-percent oil price slide in the fourth quarter, supermajors booked solid sets of Q4 and 2018 results, suggesting that they have learned to raise profits even when…

Canada’s Most Crucial Pipeline Comes Under Fire

Feb 01, 2019 at 17:00 | Nick Cunningham

Police and private security contractors have been quietly preparing to head off protests of a key oil pipeline in the U.S. Midwest in an effort to avoid another Standing Rock.…

Momentum Is Building For Oil

Feb 01, 2019 at 16:53 | Jim Hyerczyk

U.S. West Texas Intermediate crude oil futures are trading higher on Friday with the market hovering slightly below highs not seen since November 21. The market is being boosted by…

Baker Hughes Upbeat About 2019

Feb 01, 2019 at 16:51 | Tsvetana Paraskova

Baker Hughes, a GE company sees a bright year ahead for its businesses, underpinned by solid growth in key oil and gas regions like the Middle East and the North…

Global Deepwater Oil Production To Hit New Record In 2019

Feb 01, 2019 at 14:10 | Tsvetana Paraskova

Global deepwater liquid production is set to jump by 700,000 bpd from 2018 to reach a record-high of 10.3 million bpd in 2019, thanks to new fields coming on stream…

U.S. Oil Rig Count Falls Sharply As Oil Prices Climb

Feb 01, 2019 at 12:14 | Julianne Geiger

Baker Hughes reported a sharp drop in the number of active oil and gas rigs in the United States this week. The total number of active oil and gas drilling…

ExxonMobil Leads In Exploration Successes In 2018

Feb 01, 2019 at 09:55 | Rystad Energy

Driven by its significant investment in Guyana, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. “ExxonMobil…

Platts: Chinese Independent Refiners Import Less Crude In January

Feb 01, 2019 at 08:05 | Tsvetana Paraskova

China’s independent refiners—typically known as ‘teapots’—imported a combined 2.72 million bpd of crude oil in January, down by 8.7 percent from December, a monthly S&P Global Platts survey of…

Global Outages Boost Oil Prices

Jan 31, 2019 at 16:25 | Nick Cunningham

Oil prices are on track for strong gains this week, and the price increases are not only the result of the crisis in Venezuela. The oil market received a boost…

The Major Risk That Oil Markets Are Underestimating

Jan 30, 2019 at 17:21 | Nick Cunningham

The U.S. campaign for regime change in Venezuela could drive up oil prices. The oil markets barely budged last week when the Trump administration first recognized Juan Gauidó as…

Softer U.S. Gasoline Demand Weighs On Oil Prices

Jan 30, 2019 at 17:15 | Irina Slav

The latest oil price decline has been blamed on several things, including anxiety about the state of the global economy, the sanction waivers Washington granted Iran’s biggest crude oil buyers,…

The Only Way For The Aramco IPO Is Downstream

Jan 30, 2019 at 11:05 | Cyril Widdershoven

The Aramco IPO fog has been partly cleared up, after Amin Nasser, Aramco’s CEO, opened up to the press during a meeting at the World Economic Forum (WEF)…

Oil Markets Unmoved By Modest Inventory Build

Jan 30, 2019 at 09:41 | Irina Slav

As international prices inched up in the aftermath of Washington’s latest sanctions against Venezuela, the Energy Information Administration reported a build in crude oil inventories for the week to…

U.S. Seeks To Cripple Venezuela’s No.1 “Vehicle For Embezzlement’’

Jan 29, 2019 at 17:48 | Nick Cunningham

The Trump administration stepped up its effort at regime change in Venezuela on Monday, announcing sanctions intended to cripple the country’s oil sector. The U.S. government will bar most transactions…

New Exploration Tech Finds 1.5 Billion Barrels Of Oil In Alaska

Jan 29, 2019 at 14:11 | Irina Slav

Digital technology adoption in all stages of upstream operations in the oil and gas industry has seen a steep rise recently. While a lot has been written about the benefits…

Why Libya’s Largest Oil Field Remains Shut Down

Jan 29, 2019 at 12:25 | Tsvetana Paraskova

Libya’s largest oil field, Sharara, will not reopen until the armed group that has been occupying it for nearly two months backs down and leaves, the chairman of the National…

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