Standard Chartered: global demand will…
Crude oil prices inched lower…
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…
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…
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…
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…
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…
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…
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…
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 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…
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’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…
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…
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…
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’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…
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…
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…
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…
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’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…