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Oil Fund Withdrawals Suggest Extended Price Rally

Oil Fund Withdrawals Suggest Extended Price Rally

Investors are ditching the oil…

North Sea Oil and Gas Firms Continue Drilling Despite Climate Goals

North Sea Oil and Gas Firms Continue Drilling Despite Climate Goals

Major North Sea oil-producing countries…

Energy / Crude Oil

U.S. Oil Companies Look To Skirt Biofuel Quotas

May 30, 2018 at 13:34 | Haley Zaremba

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…

IEA: EVs Could Cut Oil Demand By 2.5 Million Bpd By 2030

May 30, 2018 at 09:26 | Tsvetana Paraskova

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…

OPEC Overcompliance Has Created A Problem

May 29, 2018 at 16:50 | Irina Slav

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…

The Biggest Challenge For U.S. Oil Exports

May 29, 2018 at 11:57 | Tim Daiss

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 Unlikely To Open The Oil Taps In June

May 29, 2018 at 10:45 | Tsvetana Paraskova

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…

Why U.S. Oil Exports Are Only Heading Higher

May 28, 2018 at 17:13 | Nick Cunningham

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…

U.S. Oil Exports Eat Into OPEC Market Share In Asia

May 28, 2018 at 11:00 | Tsvetana Paraskova

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…

U.S. Shale Production May Be Plateauing

May 25, 2018 at 17:05 | Ron Patterson

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…

Maduro Vows To Double Oil Production With Help From OPEC

May 25, 2018 at 10:39 | Irina Slav

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 Demands: Europe Must Guarantee It Will Buy Iranian Oil

May 24, 2018 at 14:05 | Tsvetana Paraskova

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…

EV Revolution Could Wipe Out $21 Trillion In Oil Revenue

May 23, 2018 at 15:35 | Irina Slav

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,…

Iran: Trump’s Sanctions Can’t Touch Our Oil

May 23, 2018 at 12:48 | Tim Daiss

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…

OPEC May Ease Oil Cuts As Soon As June

May 23, 2018 at 10:14 | Tsvetana Paraskova

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…

Crude, Gasoline Prices Slip On Inventory Build

May 23, 2018 at 09:45 | Irina Slav

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…

Traders See Higher Oil Prices In The Long Term

May 22, 2018 at 16:57 | Tsvetana Paraskova

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…

OPEC Could “Relax” Production Cuts

May 22, 2018 at 16:54 | Nick Cunningham

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…

Could Venezuela Prompt OPEC To Pump More?

May 22, 2018 at 14:37 | Irina Slav

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

Trade War Truce With China Boosts Oil Prices

May 21, 2018 at 16:39 | Tim Daiss

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 Prepares For Oil Production Decline

May 21, 2018 at 10:51 | Irina Slav

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…

Is $70 Oil Enough For Shale Drillers?

May 18, 2018 at 17:31 | Tsvetana Paraskova

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…

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