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New Technology Is Fueling America’s Oil Boom

New Technology Is Fueling America’s Oil Boom

The US achieved record-breaking oil…

Oil Supported By Crude, Gasoline Draws

Oil Supported By Crude, Gasoline Draws

Crude oil prices traded slightly…

Energy / Crude Oil

How Much Oil Can OPEC Realistically Add?

Oct 15, 2021 at 13:28 | Alex Kimani

Two weeks ago, in a short and terse affair that did nothing to address the spill-over from overheating gas markets, OPEC+ confirmed that it would stick to its…

China Once Again Cuts Oil Import Quotas For Indepedent Refiners

Oct 15, 2021 at 10:41 | Irina Slav

Beijing has cut the crude oil import quotas for independent refiners for the rest of the year in the latest move to curb their growing oil market clout, Reuters has…

Saudi Arabia: Patience Is A Virtue In Oil Markets

Oct 14, 2021 at 15:48 | Julianne Geiger

“Is it not time to add more barrels than OPEC is already providing?” was the question posed to HRH Prince Abdulaziz bin Salman by journalist Ryan…

OPEC Cuts 2021 Oil Demand Forecast

Oct 13, 2021 at 08:48 | Tsvetana Paraskova

OPEC expects this year’s global oil demand to grow by 5.8 million barrels per day (bpd) from the low 2020 levels, down from last month’s estimate of 5.96-million-bpd annual growth.…

Platts: OPEC+ Is Producing Less Crude Than It's Supposed To

Oct 12, 2021 at 09:04 | Irina Slav

OPEC+ is producing less oil than it is supposed to, a survey by Platts has revealed, as cited by Forex Live. The oil cartel was supposed to pump a…

Why $80 Oil Won't Destroy Demand

Oct 11, 2021 at 15:27 | Tsvetana Paraskova

The $80 per barrel threshold may not be the limit for oil prices in the coming months as global demand recovery continues and record natural gas prices spur…

A Successful Energy Transition Will Need Oil Demand Destruction

Oct 11, 2021 at 13:33 | Irina Slav

There’s a dark secret about the energy transition that politicians and energy regulators all too frequently shy away from. Unfortunately, unless this issue is dealt with the energy…

Oil Supply Adequate For Now, But Larger Supply Crunch Looms

Oct 11, 2021 at 10:55 | Tsvetana Paraskova

Global oil supply will be enough to meet demand in the short and medium term, but the world is headed towards a supply shortage after 2026 unless the oil industry…

Iran’s Oil Minister Presents Creative Plan To Draw In New Crude Oil Investment

Oct 11, 2021 at 09:47 | Irina Slav

Iran is offering crude oil in exchange for goods or investments in its oil industry, oil minister Javad Owji told Iranian TV, as quoted by Bloomberg. The plan has…

High Natural Gas Prices Could Lead To 2 Million Bpd Extra Oil Demand

Oct 08, 2021 at 15:29 | Alex Kimani

Oil prices have vaulted to multi-year highs after OPEC and other major producers opted last week against increasing output by more than previously agreed. However, it's the natural…

Lebanon’s Unravelling Economy Could Have A Major Geopolitical Impact

Oct 08, 2021 at 15:05 | Matthew Smith

Crisis-riven Lebanon appears on the brink of collapse once again. The deeply divided Mediterranean country, which was engulfed by a sectarian civil war for 15 years…

U.S. Rig Count Climbs As Crude Prices Rally

Oct 08, 2021 at 12:11 | Julianne Geiger

The number of oil and gas rigs in the United States rose by 5 this week, according to Baker Hughes, bringing the total number of additions since the start of…

China To Coal Miners: Raise Production Now

Oct 08, 2021 at 10:56 | Charles Kennedy

Chinese authorities have ordered 72 coal mines in Inner Mongolia to boost production by almost 100 million tons amid an energy crunch that has seen factories shut down and prompted…

Saudi Arabia Eyes Oil Market Dominance As Prices Bounce Back

Oct 07, 2021 at 12:42 | Felicity Bradstock

After a difficult year during Covid, Saudi Arabia and its oil and gas industry are finally rebounding as global oil demand recovers. Oil revenue in Saudi…

Moody’s: Oil Industry Must Spend $542 Billion To Avoid Supply Shock

Oct 07, 2021 at 11:52 | Tsvetana Paraskova

Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if the oil market is to avert the next supply shortage shock, Moody’s said…

Oil Prices Rebound As U.S. Walks Back Plan To Tap Strategic Petroleum Reserve

Oct 07, 2021 at 10:38 | Julianne Geiger

The U.S. Department of Energy is walking back previous comments that it was considering a release of the Strategic Petroleum Reserve and a ban on crude oil exports, Bloomberg’s Javier…

Why OPEC Didn’t Boost Production By 800,000 Bpd

Oct 07, 2021 at 09:35 | Irina Slav

Concern that demand for oil may weaken in the future was one of the reasons OPEC+ decided to stick with its original agreement to add 400,000 bpd in combined supply…

Oil Unchanged On Small Crude Inventory Build

Oct 06, 2021 at 09:41 | Irina Slav

Crude oil remained unchanged today after the Energy Information Administration reported an inventory build of 2.3 million barrels for the week to October 1. At 420.9 million barrels, U.S.…

Hedge Funds Scramble To Buy Crude Oil Futures As Market Tightens

Oct 05, 2021 at 13:35 | Irina Slav

Earlier this year, oil began to fall out of favor with traders as the focus on energy attention increasingly shifted towards renewable power and the energy transition. But…

U.S. Shale Giant Says OPEC Controls Oil Prices

Oct 05, 2021 at 11:48 | Tsvetana Paraskova

Unlike in previous years, the U.S. shale patch will not have a large say in where oil prices will be going in the coming months. Currently, control over the market’s…

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