Africa’s biggest oil producer, Nigeria,…
The market is growing increasingly…
Big Oil The Oil Market Is Bigger Than All Metal Markets Combined Ever since the invention of the internal combustion engine, oil has been one of the most crucial commodities…
Natural gas, renewables expected to grow significantly The EIA released this year’s International Energy Outlook today, outlining expected trends in energy through 2040. The International Energy Outlook predicts that total world…
The government of Azerbaijan signed a new production sharing agreement (PSA) with the consortium operating the Azeri-Chirag-Deepwater Gunashli oil field in the Caspian. The new deal gives Baku a much larger stake…
The long-awaited Saudi Aramco IPO, scheduled for mid-2018, could be delayed to 2019. International news reports have stated that the Saudi government is currently putting together contingency plans for a…
BHP announced their plans to divest their U.S. shale assets, including a 123,000-acre position in the heart of the Delaware Basin. This acreage position, in terms of a pricing evaluation,…
Alberta Premier Rachel Notley cut the ribbon that marked the official opening of an oil sands expansion project near Fort McMurray on Wednesday. The new project is expected to produce…
On the last day of summer 2017, Russia’s Prime Minister Dmitry Medvedev held a government session dedicated to the development of the country’s territories in the Arctic. After months of…
Petrochemicals are Big Oil’s big hope for the future—the distant future. Petrochemicals are used in thousands of products, with the biggest group among these being single-use plastic products. The bad…
All data below is based on the latest OPEC Monthly Oil Market Report. All data is through August 2017 and is in thousand barrels per day.
The world’s largest oilfield services firm has decided that it should take an ownership stake in upstream oil and gas production, rather than simply provide the services for doing so.…
Crude oil prices inched up after the EIA reported a smaller-than-expected build of 5.9 million barrels in crude oil inventories for the week to September 8, after a
Today’s OPEC report is a clear sign of a sustainable bear market, with the cartel’s oil production falling slightly in August, while its demand forecast for 2017-2018 rose. OPEC produced…
Confirming Monday leaks that OPEC production had dipped last month, the just released OPEC report for the month of September confirmed that OPEC produced 32.755mmb/d (according to secondary source data), a…
Saudi Crown Prince Mohammed bin Salman says Saudi Aramco should be valued at $2 trillion for its initial public offering, but its true value will only be known when the…
Texas continues to recover from Hurricane Harvey, and many of the disrupted refineries are ramping up production once again. But the ripple effects from the outages are still being felt,…
In June 2017, Kurdistan Regional Government (KRG) and Russian energy behemoth Rosneft signed several cooperation, investment and production sharing agreements regarding hydrocarbon exploration, production, infrastructure, logistics and trading. Rosneft also…
Production Production for June by BOEM was 1631 kbpd and by EIA 1636, compared with 1673 and 1659 kbpd, respectively, in May. The decline was mostly from Thunder Horse going…
After devastating Houston and other parts of southeast Texas and continuing on to Louisiana, the hurricane known as Harvey put a spotlight on the rising role of the Gulf of…
Last week, I wanted to give you a firm go-ahead signal to target and buy oil stocks. This week, we’ve already done fine in following that advice. For now, I…
Optimism among oil traders seems to be rising based on Brent calendar spreads, according to Reuters market analyst John Kemp. He notes in a recent column that said spreads…