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StanChart: Oil Demand Set for All-Time High in May

StanChart: Oil Demand Set for All-Time High in May

Standard Chartered: global demand will…

Oil Moves Down on Inventory Rise

Oil Moves Down on Inventory Rise

Crude oil prices inched lower…

Energy / Crude Oil

U.S. Sanctions Could Add $50 To Oil Prices

Jul 09, 2018 at 16:08 | Nick Cunningham

The oil industry might not be able to produce enough oil to meet global demand in a few years’ time. To be sure, much of the oil world is focused…

Could U.S. Oil Become Part Of The Brent Benchmark?

Jul 09, 2018 at 15:58 | Tsvetana Paraskova

Rising U.S. crude oil exports are upending global oil trade and oil flows to various regions in the world, snatching up market share in Asia and Europe from the traditional…

Chinese Refiner Stops U.S. Oil Imports, Turns To Iranian Crude

Jul 09, 2018 at 11:48 | Irina Slav

An independent Chinese refiner has suspended crude oil purchases from the United States and has now turned to Iran as one of its sources of crude, media reports, citing…

Russian Oil Production Soars To 11.193 Million Bpd

Jul 06, 2018 at 14:26 | Tsvetana Paraskova

In line with its agreement with OPEC to reverse part of the cuts, Russia is boosting its crude oil production, pumping as much as 11.193 million bpd in the first…

Do Trump’s Tweets Point To Another Oil Crisis?

Jul 05, 2018 at 16:11 | Nick Cunningham

President Trump spent part of his July 4 holiday shouting at OPEC on twitter, demanding lower gasoline prices. The OPEC Monopoly must remember that gas…

Goldman: Trade War Won’t Derail Oil Prices

Jul 05, 2018 at 15:45 | Nick Cunningham

U.S. tariffs are set to take effect on China on Friday, with China promising immediate retaliation, kicking off the next phase of the trade war. But it remains to be…

Aramco Looks To Launch New Oil Price Benchmark

Jul 05, 2018 at 13:23 | Tim Daiss

Saudi Arabia has turned its oil market fortunes around over the past 1 ½ years. From facing potential financial collapse due to a historic supply overhang of crude on the…

Oil Prices Slide On Small Crude Build

Jul 05, 2018 at 10:29 | Irina Slav

As oil prices continue to press on higher the EIA reported an inventory build of 1.2 million barrels for the week to June 29. This follows three consecutive weekly…

U.S. Sour Oil Sellers Panic, Cut Prices To Asia

Jul 05, 2018 at 09:16 | Irina Slav

U.S. sour crude oil sellers have reduced their pricing for Asian customers, fearing that demand for U.S. oil may drop as China threatens to slap tariffs on American energy imports…

Trump Is Fracturing OPEC

Jul 04, 2018 at 16:23 | Nick Cunningham

President Trump is fracturing OPEC. Trump’s tweet over the weekend that Saudi Arabia agreed to add 2 million barrels per day (mb/d) of supply confused the oil markets, pushing prices…

China Throws Venezuela’s Oil Industry A $5B Lifeline

Jul 04, 2018 at 09:35 | Irina Slav

China’s Development Bank has approved a US$5-billion loan for Venezuela’s oil industry, Bloomberg reports, quoting the troubled South American country’s Finance Minister Simon Zerpa. “We’ve received the authorization for…

The New Oil Cartel Threatening OPEC

Jul 03, 2018 at 17:18 | Irina Slav

When reports emerged that India and China are in talks about forming an oil buyers’ club, OPEC was probably too busy with its upcoming June 22 meeting to concern…

Permian Bottlenecks Come At The Worst Moment

Jul 03, 2018 at 17:11 | Nick Cunningham

The growing number of supply outages around the world are causing the oil market to become a lot more volatile, putting extra emphasis on every barrel that does or does…

Do Crude Producers Really Want Higher Oil Prices?

Jul 03, 2018 at 17:02 | ZeroHedge

Major states buying oil from Iran are unlikely to heed the U.S. call to drop imports; key allies want a waiver to avoid sanctions; OPEC, meanwhile, will have trouble boosting…

OPEC Production Jumps In June As Saudis Near Production Record

Jul 03, 2018 at 10:56 | Tsvetana Paraskova

OPEC’s oil production in June increased by 320,000 bpd from May to stand at 32.32 million bpd, as the cartel’s biggest producer Saudi Arabia produced close-to-record volumes, according to a…

Saudi Arabia Won’t Bring 2 Million Bpd Online

Jul 02, 2018 at 17:16 | Nick Cunningham

President Trump said in a tweet on Saturday that Saudi Arabia agreed to boost oil production by 2 million barrels per day (mb/d), a claim that surely came as news…

What Trump’s Tweet Actually Means For Oil

Jul 02, 2018 at 16:49 | Cyril Widdershoven

After a weekend of turmoil, largely caused by President Trump’s twitter diplomacy, the international oil cartel could soon be facing a new crisis. As previously reported, Saudi Arabia and Iran…

India Folds Under Pressure, Halts Iranian Oil Imports

Jul 02, 2018 at 15:43 | Tim Daiss

In more dour news for Iran, India (the world’s fourth largest oil importer) is planning to cut oil imports from the embattled OPEC member. India’s oil ministry has asked refiners…

Saudi King To Trump: We Will Boost Oil Output If Needed

Jul 02, 2018 at 10:31 | Irina Slav

The White House has dismissed a suggestion that President Trump made in a tweet that Saudi Arabia is ready and willing to increase oil production by up to 2…

Libya Stops Pumping Oil

Jul 02, 2018 at 08:59 | Irina Slav

Libya’s National Oil Corporation has declared force majeure on crude oil loadings from two oil terminals, which effectively removed 850,000 bpd from the country’s production, Libyan media report. “Despite…

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