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U.S. Oil Rig Count Rises For 23rd Week In A Row

U.S. Oil Rig Count Rises For 23rd Week In A Row

The U.S. rig count increased…

Energy / Crude Oil

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U.S. Shale Is Turning Up The Heat On OPEC

May 19, 2017 at 16:24 | Oil & Gas 360

OPEC has been restraining production since the beginning of the year, after a group of cartel members teamed with Russia and other non-OPECs and agreed to production cuts last November.…

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From Oil To Arms: Saudis Move Away From Crude

May 18, 2017 at 11:07 | Irina Slav

The sovereign wealth fund of Saudi Arabia has set up a defense business as part of its efforts to reduce the Kingdom’s dependence on crude oil for budget revenues…

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U.S. Shale In No Hurry To Hedge, Bet On Higher Oil Prices

May 17, 2017 at 15:56 | Rakesh Upadhyay

U.S. shale oil drillers have tactically used hedging to survive during the current oil crisis. Along with the technological advances, hedging has been one of the reasons for the survival…

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Iraq Agrees With Deal Extension, But Boosts Oil Exports To Record Levels

May 17, 2017 at 12:08 | Zainab Calcuttawala

Iraq’s May export figures show the Middle Eastern nation reaching for the sky to dominate the Asian oil supply game, according to new shipping data analyzed by Bloomberg. Sixty-two million…

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A Red Flag For Oil Markets? China’s Refinery Throughput Plunges

May 15, 2017 at 13:20 | Tsvetana Paraskova

Amid planned maintenance at some big state refineries and decreased domestic production, China’s refinery runs in April dropped to their lowest levels since last September, according to data by the…

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Saudis Own The Largest Refinery In The U.S. – Now What?

May 12, 2017 at 17:21 | Drilling Info

Port Arthur, TX is home to the U.S. refining fleet’s crown jewel. With an atmospheric distillation capacity of 603 MBbl/cd, this complex coking refinery is the largest refinery in the…

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Libya’s Oil Output Tops 800,000 Bpd For The First Time Since 2014

May 10, 2017 at 09:28 | Tsvetana Paraskova

Libya’s crude oil production has exceeded 800,000 bpd for the first time since 2014, and could average up to 1.2 million bpd for the rest of this year if oil…

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Will New Pipelines Be Enough To Handle The Permian Boom?

May 09, 2017 at 14:17 | Gregory Brew

As production in the Permian Basin continues to increase, the accompanying infrastructure has struggled to keep up. Expansions to pipeline capacity are needed to handle the heavier flow, as more…

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Oklahoma Taking Advantage Of Mexico’s Oil Boom

May 09, 2017 at 14:07 | Tsvetana Paraskova

With Mexico flinging the doors wide open to its vast oil wealth, with much of the hard work already done and the massive discoveries having already been made, more than…

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Saudis Set To Cut June Crude Oil Exports To Asian Markets

May 09, 2017 at 11:23 | Tsvetana Paraskova

Saudi Arabia will reduce its crude oil exports to the Asian market by around 7 million barrels in June, Reuters reported on Tuesday, citing a source with first-hand knowledge…

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