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Energy / Crude Oil

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Strong Gasoline Draw Sees Oil Prices Spike

Mar 08, 2017 at 09:56 | Irina Slav

The Energy Information Administration reported a build of 8.2 million barrels in commercial crude oil stockpiles for the week to March 2, a day after the American Petroleum Institute…

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Iraq To Start Drilling In Highly Contested Persian Gulf

Mar 07, 2017 at 16:17 | Zainab Calcuttawala

Iraq will be using offshore oil and gas production ventures to boost the war-torn country’s energy reserves, Oil Minister Jabar al-Luaibi’s comments told the press last week, setting off…

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Oil And Gas IPOs Return Amid Oil Price Recovery

Mar 06, 2017 at 15:18 | Tsvetana Paraskova

The oil price crash has left energy companies scrambling to shore up balance sheets and streamline costs. But the recent recovery of crude prices has instilled cautious confidence among oil…

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Kuwait To Focus On Downstream To Boost Economy

Mar 03, 2017 at 13:35 | Oxford Business Group

Kuwait’s latest budget will focus capital expenditure on downstream oil and gas activities during FY 2017/18 in a bid to create jobs, offset falling crude export revenue and capitalise on…

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Oil Rig Count Hits A 17-Month High

Mar 03, 2017 at 12:38 | Julianne Geiger

The number of active oil and gas rigs in the United States increased on Friday by 2. Both benchmarks were trading up earlier on Friday on reports of an evacuation…

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Saudis Cut Light Crude Prices To Asia To Keep Market Share

Mar 03, 2017 at 09:24 | Tsvetana Paraskova

Faced with a persisting oversupply and trying to keep its market share amid production cuts intact, Saudi Arabia has unexpectedly lowered the April price for the light crude it sells…

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Doomsday Scenario: A World Without Oil

Mar 02, 2017 at 16:56 | Zainab Calcuttawala

Suppose the rapture happened. Not the kind followed by the Second Coming of Jesus as promised by Paul, but a rapture of oil. Imagine that one night, just after the…

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Despite Promises To Cut, Iraq Raises February Oil Exports

Mar 02, 2017 at 09:54 | Irina Slav

Crude oil exports from Iraq went up by 1 percent to 3.85 million barrels daily in February, despite the OPEC oil production cut that has seen Saudi Arabia and other…

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Why Investors Should Beware Of The Bakken

Mar 01, 2017 at 16:27 | Arthur Berman

It’s the beginning of the end for the Bakken Shale play. The decline in Bakken oil production that started in January 2015 is probably not reversible. New well performance has…

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South Africa: The Next Hot Spot For Offshore Oil Exploration

Mar 01, 2017 at 14:20 | Tsvetana Paraskova

South Africa’s land is known for its resources such as platinum, gold, diamonds, copper and coal. But its waters may be hiding future giant oil and gas discoveries potentially capable…

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