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Energy / Crude Oil

Options Traders Are Betting On $300 Oil

Nov 12, 2021 at 11:13 | Tsvetana Paraskova

Adventurous options traders placed bets this week on oil prices hitting $250 and even $300 per barrel, betting for the first time this year that oil could exceed $250, ICE…

Energy Industry Strikes Back At Democrats' Oil Export Ban Proposal

Nov 12, 2021 at 08:59 | Irina Slav

Energy industry insiders have slammed a proposal by a group of Democratic Senators to ban U.S. oil exports in a bid to rein in retail fuel prices. "That proposal does…

Rosneft Sees Possible Supercycle In Oil And Gas Markets

Nov 12, 2021 at 08:35 | Tsvetana Paraskova

Rosneft chief executive Igor Sechin said that the rebound in global demand for oil and gas and the gap between supply and demand could lead to a new supercycle for…

Crude Oil Is Back, And It Isn’t Going Anywhere

Nov 11, 2021 at 17:17 | Tsvetana Paraskova

Pressured by investors and society, the global oil industry is looking for ways to stay in the game by meeting the world's growing demand for energy, including crude,…

Biden’s $1 Trillion Spending Package Will Boost Oil Demand

Nov 11, 2021 at 13:27 | Charles Kennedy

Amid efforts by the Biden administration to put a lid on fuel prices, it was the passage of the Democratic-sponsored $1-trillion infrastructure bill last weekend that became the…

China Boosts Imports Of ''Cheap'' Iranian Crude

Nov 10, 2021 at 10:28 | Tsvetana Paraskova

Independent refiners in China boosted imports of oil from Iran between August and October, attracted by the cheaper Iranian crude despite the risk of running afoul of U.S. sanctions, Reuters…

Oil Prices Fall After EIA Reports Crude Inventory Build

Nov 10, 2021 at 09:40 | Irina Slav

Crude oil fell today after the Energy Information Administration reported an inventory build of 1 million barrels for the week to November 5. This compares with a build…

EIA: Oil Demand Rebounds Faster than Supply

Nov 10, 2021 at 08:24 | Irina Slav

Crude oil demand is rebounding faster than supply, pushing prices higher, the Energy Information Administration said this week, noting that the price of West Texas Intermediate had reached…

Will A Strategic Petroleum Release Bring Down U.S. Gasoline Prices?

Nov 09, 2021 at 13:23 | Tsvetana Paraskova

The Biden Administration is considering tapping the Strategic Petroleum Reserve as a potential tool to bring down the gasoline prices in America that have hit a seven-year high…

Iran Could Produce Billions Of Barrels From 4 Little-Known Oilfields

Nov 09, 2021 at 12:16 | Simon Watkins

Ahead of the new iteration of the ‘Joint Comprehensive Plan of Action’ (JCPOA) that Iran expects to have in place before 20 March 2022

Biden’s Infrastructure Bill Will Boost Oil Demand

Nov 09, 2021 at 11:54 | Haley Zaremba

While the Biden administration’s landmark Infrastructure Bill has been framed as anti-fossil fuels by the media as well as by politicians such as coal country’s Joe Manchin, oil…

Saudi Arabia's Economy Booms As Oil Prices Rise

Nov 09, 2021 at 11:02 | Irina Slav

Saudi Arabia reported economic growth of 6.8 percent on the year for the third quarter on the back of higher oil prices. This is the highest quarterly growth for the…

Democrats Call On Biden To Ban Oil Exports

Nov 09, 2021 at 09:17 | Irina Slav

A group of Democratic Senators has called on President Joe Biden to reimpose a ban on crude oil exports as the administration struggles to contain retail fuel prices. "In light…

Saudi Arabia Warns Of Shrinking Spare Oil Production Capacity

Nov 09, 2021 at 09:02 | Tsvetana Paraskova

The world will see its level of spare oil production capacity dwindle next year as jet fuel demand returns to pre- or near-pre-crisis levels, Amin Nasser, the chief executive of…

What Would Happen If Brazil Privatized Its National Oil Company?

Nov 08, 2021 at 14:52 | Matthew Smith

A massive surge in inflation is threatening Brazil’s post-pandemic economic recovery. Latin America’s largest economy was savaged by the coronavirus with Brazil suffering the third most COVID-19 cases…

U.S. Consumers To Foot The Bill For Surge In Natural Gas Exports

Nov 08, 2021 at 13:16 | Tsvetana Paraskova

U.S. consumers and utilities will be paying much higher prices for natural gas and energy this winter, as record American natural gas exports amid sluggish domestic production growth…

Is Biden Doing Enough To Make Big Oil Boost Production?

Nov 08, 2021 at 13:02 | Robert Rapier

Just ahead of OPEC’s next virtual meeting, President Joe Biden cast blame at Russia and OPEC for the current state of high oil prices. He said “If you…

Saudi Arabia Aggressively Hikes Oil Prices As Market Tightens

Nov 08, 2021 at 09:05 | Tsvetana Paraskova

Saudi Arabia raised on Saturday the official selling prices (OSPs) for its crude in December to all customers by much more than traders and refiners had expected, suggesting that…

Is Egypt’s Oil And Gas Sector Set To Boom?

Nov 05, 2021 at 14:15 | Felicity Bradstock

As Eni makes a new oil and gas discovery in Western Egypt, the future of energy in the oil-rich nation looks promising. After record production figures were hit…

The U.S. Considers Strategic Petroleum Reserve Release After OPEC+ Snub

Nov 05, 2021 at 12:59 | Tsvetana Paraskova

U.S. President Joe Biden is considering a release from the Strategic Petroleum Reserve (SPR) as a possible move to reduce gasoline prices in the United States, after OPEC+ ignored on…

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