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Energy / Crude Oil

OPEC Lifts Oil Demand Forecast Amid Rising Prices

May 14, 2018 at 09:34 | Tsvetana Paraskova

OPEC revised up on Monday its forecast for global oil demand growth this year, but noted that sanctions, tariffs, and the U.S. withdrawal from the Iran nuclear deal point to…

Abu Dhabi’s TAQA Boosts Investment Amid Higher Oil Prices

May 11, 2018 at 16:45 | Tsvetana Paraskova

Like many other energy companies, Abu Dhabi National Energy Company—known as TAQA—suffered from the effects of low oil prices for three years. And now, like the international oil majors, TAQA…

Russia To See Oil Revenues Jump Fivefold

May 11, 2018 at 10:24 | Tsvetana Paraskova

Due to the oil price rally, Russia expects its oil and gas revenues to jump fivefold compared to the expected revenues set in its 2018 budget, according to the Finance…

Permian Bottleneck Provides Huge Opportunity For Oil Traders

May 10, 2018 at 14:15 | Tsvetana Paraskova

Oil production in the fastest-growing U.S. shale play, the Permian, continues to boom, while takeaway capacity has not kept up. Pipeline availability issues have led to a major discount on…

Who Was Buying Iranian Oil And What Happens Next?

May 09, 2018 at 14:01 | ZeroHedge

With Trump having started the 6 month process of pulling out from the Iranian nuclear deal (or rather as Steven Mnuchin admitted, Trump's true intention is merely renegotiating the existing deal…

Trump Tears Up The Iran Deal

May 08, 2018 at 13:51 | Tom Kool

Oil markets saw extreme volatility on Tuesday, with prices originally crashing on rumors that the Iran deal would remain in place before Trump tore it up.

Never Trust A Banker About Oil Prices

May 04, 2018 at 16:35 | Dan Dicker

In recent weeks I’ve commented on the powerful bullish forces that have combined in oil and oil stocks and your need to increase your exposure to them. So, before going…

Higher Oil Prices Are OPEC’s Only Concern

May 03, 2018 at 16:58 | Nick Cunningham

OPEC could achieve its goal of eliminating the oil inventory surplus this month. But the goal posts will now move to another metric in order to justify keeping the production…

China’s No.1 Oil Company Cuts Saudi Crude Imports

May 03, 2018 at 11:56 | Irina Slav

China’s Sinopec will cut its June imports of crude from Saudi Arabia by 40 percent for the second month in a row because of unjustified high prices, an official from…

Texas Sees Unparalleled Economic Boom From Oil Prices

May 02, 2018 at 17:16 | Tsvetana Paraskova

“$60 is like the new $100,” Dallas Fed economist Michael Plante told Reuters last month, commenting on the effect of the oil prices on the Texas economy. Oil production…

China’s Growing Oil Demand Has Created A Geopolitical Dilemma

May 02, 2018 at 16:57 | Tim Daiss

China has become the world’s largest oil importer, and despite establishing the largely successful yuan-denominated oil futures, Beijing will have to grapple with an overlooked geopolitical and economic consequence as…

Oil Prices Slip On Large Crude Inventory Build

May 02, 2018 at 09:42 | Irina Slav

After yesterday the American Petroleum Institute served a not so pleasant surprise to oil bulls by reporting a 3.43-million-barrel increase in crude oil inventories in the United States, the…

Audit Puts Aramco’s Oil Reserves At 270 Billion Barrels

Apr 30, 2018 at 09:34 | Irina Slav

An international independent audit of the oil reserves of Saudi Aramco has more than confirmed the official figures released by Riyadh for three decades, putting the number at 270 billion…

Can India Break Its Oil Addiction?

Apr 27, 2018 at 17:02 | Felicity Bradstock

India is one of the world’s largest oil consumers, accounting for around 4 percent of global consumption. Only the U.S. and China outrank India in this regard, making it a…

Mexico Opens Last Round Of Oil Bidding Before Election

Apr 27, 2018 at 17:02 | Oxford Business Group

The latest round of open bidding for exploration rights in Mexico’s energy sector received mixed interest, with two further rights sales to take place later in the year. Of the…

Norway’s Sovereign Wealth Fund Posts A Loss

Apr 27, 2018 at 09:30 | Irina Slav

Norway’s sovereign wealth fund, built on the back of the country’s oil wealth and the biggest in the world, reported its first quarterly loss in two years for January to…

U.S. Oil Exports Are Only Heading Higher

Apr 26, 2018 at 16:38 | Nick Cunningham

U.S. oil exports just hit a record high, a sign that the shale boom will continue to lead to higher shipments abroad, despite some infrastructure bottlenecks. Last week, the U.S.…

Forget Oil Price Forecasts, It’s Just Another Cycle

Apr 26, 2018 at 16:34 | Irina Slav

Profit season in the oil industry is in full swing, and the mood is upbeat: strict financial discipline is paying off, cash flows are improving (or emerging after a long…

Big Oil Is Set For A Break Out

Apr 26, 2018 at 16:13 | Tsvetana Paraskova

Oil majors began to reap the benefits of the higher oil prices and lower costs as early as last year when they started reporting growing profits and improved cash flows.…

Oil Prices Dip On Crude, Gasoline Build

Apr 25, 2018 at 09:44 | Irina Slav

After API surprised markets with a 1.1-million-barrel build in crude oil inventories yesterday, the EIA reinforced the mood by reporting a 2.2-million-barrel build for the week to April…

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