Investors are ditching the oil…
Major North Sea oil-producing countries…
Continuing a national trend, the United States’ second-largest oil refining company has recently requested a biofuel hardship waiver from the Environmental Protection Agency (EPA). The waiver, if granted, would…
Electric vehicles (EVs) are expected to displace 2.5 million bpd of oil demand by 2030, as supportive policies and cost reductions will likely lead to constantly growing EV sales, according…
Crude oil inventories in the Organization for Economic Co-operation and Development have fallen below their five-year average level, a high-ranking OPEC official told S&P Platts this week. They are…
As Saudi Arabia and Russia grapple with both the geopolitics and economics of continuing or stopping their one and a half year long oil production cut reached between OPEC and…
OPEC probably won’t decide in June to bring back more oil supply, because the cartel and its allies will be watching the ongoing geopolitical events that could impact broader global…
Oil prices are falling, but American crude is suffering even worse than its international counterpart. The price differential between WTI and Brent continues to widen, briefly hitting $9 per barrel…
Increased U.S. crude oil exports to Asia, supported by a wide WTI-Brent spread, are eating into Asian market shares of OPEC and Russia, the cartel’s ally in the production cut…
I have updated my scenarios for U.S. LTO output, based on both EIA tight oil output data and average well profile data from Enno Peters’ shaleprofile.com. I have also created a scenario…
Venezuelan President Nicolas Maduro has promised to start increasing the crisis-stricken country’s oil production during his second six-year term in office. AFP reports that during his inauguration speech, Maduro…
Iran’s Supreme Leader Ayatollah Khamenei has issued five demands to the European Union (EU)—including Europe guaranteeing Iran’s oil will be completely sold—that European leaders could find quite difficult to…
Hardly a day goes by without a research company releasing yet another report forecasting the future of electric vehicles and all related industries, oil included. Some of these are skeptical,…
As the geopolitical drama between not only Iran and the U.S., but between the U.S. and its EU allies unfolds over Trump’s decision to pull out of the 2015 Iranian…
As soon as next month, OPEC may decide to reverse some of the production cuts in place since the beginning of 2017, to respond to supply concerns over plummeting Venezuelan…
As crude oil begins to slide back down on talk about a possible easing of the OPEC+ production cuts, the Energy Information Administration added to bearish sentiment by reporting…
Oil market participants and analysts have been focused on the front-month oil futures prices that rallied to levels last seen in November 2014, with Brent Crude breaking above $80…
It was only a few weeks ago that top officials from OPEC nations were issuing statements assuring the market that the group’s production cuts would remain in effect through the…
Venezuela’s oil industry is collapsing fast. No wonder then that OPEC is finally talking about perhaps raising production to make up for Venezuela’s overdelivering on production cuts. As Reuters
On Saturday, there was a sign of hope that ongoing trade tensions between Washington and Beijing could be remedied. Beijing said that it agreed to significantly increase its purchases…
Iran expects disruption in its oil industry after the reintroduction of U.S. sanctions that would make it hard to stick to its current production goals, Oil Minister Bijan Zanganeh said…
WTI Crude prices have recently surged to their highest level in three and a half years—just above $70 a barrel. In theory, that’s higher than the average breakeven costs…