Despite renewable energy efforts, the…
Crude oil prices moved lower…
The number of active drilling rigs in the United States rose by 2 this week, keeping the total rig count at 588, as oil prices remain strong despite the fresh…
EOG Resources, one of the largest operators in the U.S. shale patch, has signaled it would be willing to boost oil production if there is demand for it. In a…
Crude oil jumped sharply on Thursday and remained high on Friday after reports that the protests in Kazakhstan had disrupted production at its biggest field, Tengiz. Brent crude was…
Oil prices could reach $95 if Iran doesn’t return to the market this year, while commodities overall are set for a supercycle that could potentially last a decade, according to…
The Permian shale play, the star of the shale patch, witnessed a hot merger and acquisition year in 2021 amid the pandemic as many companies sought to gain…
Saudi Arabia cut the prices of all the crude grades it will be selling to Asia in February to the lowest premium to regional benchmarks in three months, amid the…
Crude oil prices fell slightly today after the Energy Information Administration reported an inventory decline of 2.1 million barrels for the final week of 2021. This compared with a draw…
Last month the Biden administration released a plan to build a network of 500,000 electric vehicle charging stations across the country. President Biden…
The OPEC+ group continues to deliver lower supply increases than the monthly production quotas, according to the alliance’s estimates of compliance with the November crude oil output quotas. In November…
Given ongoing high and steady sales of crude oil to China and other Asian countries and the likelihood of a new iteration of the Joint Comprehensive Plan of Action…
OPEC+ expects the surplus on the oil market in the first quarter of 2022 to be 1.4 million barrels per day (bpd), or some 25 percent lower than it forecast…
Russia may be nearing the limit of its oil production capacity, according to recent media reports. Bloomberg reported that the country's December oil and condensate output together totaled 10.903…
OPEC+ expects the effect of the Omicron variant of the coronavirus on oil prices to be mild and temporary, Reuters reported, citing a technical report by the group. "The…
Most U.S. oil and gas firms expect to raise their capital expenditures next year, as analysts have largely forecast in recent months. Yet, capital available to the industry…
OPEC+ did some surprising things in the past two years. First, it broke up at the start of the pandemic with its two leaders—Saudi Arabia and Russia—turning on…
Europe may be in the grips of an energy shortage and forced to reopen retired coal plants to cope but climate activists insist that it is time to…
The U.S. oil industry is facing a sharp increase in production costs, the Dallas Fed energy survey’s latest edition has revealed. The survey found that while activity in the…
Some in the oil industry fear that oil prices may again return to the $100 mark, with President Joe Biden’s anti-fossil fuel stance and aggressive green agenda threatening…
The energy sector is increasingly looking to end the year on a high note after U.S. crude oil managed to overcome an early…
Crude oil prices recovered on Wednesday morning despite word from the Energy Information Administration of an inventory draw of 3.6 million barrels for the week to December 24. At 420…