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Namibia Racks Up Another Major Offshore Oil Discovery

Namibia Racks Up Another Major Offshore Oil Discovery

Shares of Portuguese integrated energy…

Energy / Crude Oil

Oil Prices Inch Lower On Crude Inventory Build

Nov 21, 2018 at 09:49 | Irina Slav

A day after the American Petroleum Institute’s weekly inventory estimate slowed down the price decline in West Texas Intermediate, the Energy Information Administration dampened optimism by reporting a…

Is It Too Late To Avoid An Oil Supply Crisis?

Nov 20, 2018 at 14:32 | Precise Consultants

Wood Mackenzie isn’t pulling any punches. “The warning signs are there – the industry isn’t finding enough oil.” And its latest report continues in the same ‘spade is a spade’…

Why Aramco Abandoned The $40 Billion Bond Sale

Nov 20, 2018 at 12:50 | Irina Slav

Saudi Aramco has changed its mind about a bond sale of about US$40 billion that would have funded the bigger part of its planned acquisition of a majority stake in…

UAE: OPEC Very Likely To Agree To Oil Production Cuts

Nov 20, 2018 at 12:06 | Tsvetana Paraskova

OPEC will very likely agree to cut oil production at its upcoming meeting in early December, although the size of the cuts is yet to be decided, Ahmed al-Kaabi,…

Alberta To Fight “Air Barrels” As Prices Continue To Plunge

Nov 20, 2018 at 09:30 | Irina Slav

Albertan oil producers need to become warier of overbooking already filled to capacity oil pipelines creating what’s commonly called “air barrels” as these contribute to the huge discount Canadian crude…

This Diplomatic Breakthrough Could Slam Oil Prices

Nov 19, 2018 at 17:47 | Nick Cunningham

Iraq is set to bring long disrupted oil back online, adding fresh barrels to a market already weighed down by ample supplies across the globe. A little over a year…

IEA Chief Urges Oil Producers Not To Cut Output

Nov 19, 2018 at 13:34 | Tsvetana Paraskova

While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have…

Oil Slips As Russia Mulls Production Cuts

Nov 19, 2018 at 11:06 | Tsvetana Paraskova

Russia’s energy ministry is discussing potential oil production cuts with local producers and will continue talks to come up with a position by the OPEC/non-OPEC meeting in early December, Energy…

Oil Prices May Have Reached A Bottom

Nov 16, 2018 at 16:30 | Robert Rapier

Last Friday, oil prices fell for the 10th consecutive day. According to CNBC, this marked the longest losing streak for crude oil in 34 years. I have covered the factors…

Alaska Sees Record Breaking Year For Oil And Gas Leases

Nov 16, 2018 at 16:29 | Tim Daiss

Alaska is still trying to make an oil production comeback after years of declining production from maturing fields. On Wednesday, the Alaska Department of Natural Resources said in a release…

Saudis Cut Oil Exports To U.S. To Boost Crude Prices

Nov 16, 2018 at 13:17 | Tsvetana Paraskova

Saudi Arabia has been slashing oil exports to the United States over the past two months, in what looks like a move to force a reduction in the world’s…

Canadian Oil Producers Divided On Output Cuts

Nov 16, 2018 at 10:23 | Irina Slav

Crude oil producers in Alberta appear to be split on a proposed cut in production amid record-low prices, Canadian media report. One of the large Canadian oil producers, Cenovus…

Will The ‘Next Permian’ Ever Be Developed?

Nov 16, 2018 at 09:10 | Rystad Energy

The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development. The potential…

Canada’s Crude Crisis Is Accelerating

Nov 15, 2018 at 13:12 | Haley Zaremba

Canadian oil producers are in an increasingly tough predicament. With high and increasing oil demand around the globe over the last year, Canadian oil production has increased accordingly. All of…

Latest Oil Price Slump Was ‘Made In America’

Nov 15, 2018 at 12:17 | Tsvetana Paraskova

The long losing streak in oil prices over the past two weeks was the result of U.S. policies and soaring American oil production, Ed Morse, head of commodities research at…

Can OPEC Halt An Oil Market Meltdown?

Nov 15, 2018 at 11:27 | Nick Cunningham

What a difference one month makes. One month ago, the International Energy Agency (IEA) warned that the world was “straining parts of the system to the limit,” noting that…

The World's Most Important Oil Region

Nov 15, 2018 at 10:58 | Rystad Energy

Middle Eastern oil production is expected to grow by 2.7 million bpd by 2025, according to latest Rystad Energy analysis. The boost in conventional oil output from the Middle East…

Significant Crude Build Weighs On Oil Markets

Nov 15, 2018 at 10:12 | Irina Slav

The Energy Information Administration reported a huge crude oil inventory build for the week to November 9 of 10.3 million barrels, arresting an improvement in oil prices that started…

Can Indonesia Turn Around Its Production Decline?

Nov 14, 2018 at 13:36 | Tsvetana Paraskova

At the end of 2016, Indonesia—which had rejoined OPEC just several months before that—refused to take part in the production cut deal and suspended its membership in the organization. Now…

Crude Recovery? OPEC Eyes 1.4 Million Bpd Production Cut

Nov 14, 2018 at 09:27 | Tsvetana Paraskova

OPEC and the non-OPEC partners in the deal are discussing potentially cutting oil production by as much as 1.4 million bpd to try to lift oil prices out of the…

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