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Record Profits Bring $120 Billion Cash Bonanza To Commodity Traders

Record Profits Bring $120 Billion Cash Bonanza To Commodity Traders

The commodity trading industry currently…

India Buys More U.S. Oil

India Buys More U.S. Oil

India is set to import…

Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP

Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP

Saudi Arabia’s Ministry of Economy…

Energy

Exxon Doubles Down On World’s Hottest Offshore Play

Jun 22, 2021 at 09:26 | Matthew Smith

The deeply impoverished former English colony of Guyana has become one of the world’s hottest offshore drilling locations. Global energy supermajors have made a slew of

Is OPEC+ Ready To Open The Taps?

Jun 22, 2021 at 08:58 | Irina Slav

OPEC+ is mulling over a further relaxation in its oil production cut agreement beginning August, Reuters has reported, citing unnamed sources in the…

Oil Prices Hit Multi-Year High Following Iranian Elections

Jun 22, 2021 at 08:38 | Julianne Geiger

Crude oil prices clambered upward on Monday afternoon as the market feared that Iran nuclear talks may be stalled after hardliner Ebrahim Raisi won the Iranian presidential election. …

The Real Reason Big Oil Is Giving Up On Iraq

Jun 21, 2021 at 15:59 | Simon Watkins

News last week that U.K. oil super-major, BP, is working on a plan to spin off its operations in Iraq’s supergiant Rumaila oil field into a stand-alone company…

Decade Of Chaos Could Send Oil To $130 Per Barrel

Jun 21, 2021 at 11:10 | Irina Slav

From $35 per barrel to $130 per barrel—this is the range for oil prices in the next few years that we could see, according to a commodity trading…

Could Fracking Save Colombia’s Oil Industry?

Jun 21, 2021 at 11:06 | Matthew Smith

Despite being wracked by nationwide anti-government protests the prospects for Colombia’s beaten-down oil industry are improving. Most of the protests and blockades of major roads have been ended…

Why U.S. Shale Won’t Derail The Oil Rally

Jun 21, 2021 at 11:06 | Tsvetana Paraskova

For the first time in nearly a decade, OPEC has solid reasons to believe that its control over the global oil supply will not be ruined by a…

Oilfield Services Companies Are Making A Full Comeback

Jun 21, 2021 at 10:58 | Alex Kimani

Oil futures are not exactly immune to a commodity rout. Oil prices have been pulling back over the past few days, with July WTI crude (CL1:COM) down 2.3%…

Commodity Prices Dip As Dollar Surges

Jun 21, 2021 at 10:51 | Stuart Burns

It won’t have been missed by anyone in the metals markets, but commodity prices have drifted off this past week. The reason is a resurgent dollar.…

Texas Grid Operators Have Another Mess On Their Hands

Jun 21, 2021 at 10:48 | Haley Zaremba

It’s been one heck of a year for Texas energy grids. Six months ago only a very select group of industry insiders and policy nerds had ever heard…

Is China Finally Moving Away From Coal?

Jun 21, 2021 at 10:45 | Haley Zaremba

The world finally seems to be leaning into the global clean energy transition in earnest. While world leaders have paid a lot of lip service to climate-smart developments…

China Reports Major Oil And Gas Find At Record Depths

Jun 21, 2021 at 09:52 | Irina Slav

China National Petroleum Corporation has made an oil and gas discovery with reserves estimated at 900 million tons, Chinese media reported. The discovery was made after six years of…

BofA: Oil Prices Could Hit $100 In 2022

Jun 21, 2021 at 08:47 | Tsvetana Paraskova

Expectations that strong demand recovery would outpace supply in coming months could lead to oil prices briefly hitting $100 per barrel in 2022, BofA Global Research said in a note…

Will Oil Hit $100 This Year?

Jun 18, 2021 at 16:53 | Tsvetana Paraskova

Oil’s rally to above $70 a barrel has spurred talk of $100 oil—an unthinkable outlook at this time last year when economies and global crude demand were reeling…

U.S. Rig Count Jumps As Oil Prices Hold Above $70

Jun 18, 2021 at 12:09 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States rose this week, bringing the total rig count to 470 as U.S. drillers…

Nigeria’s Oil Industry Is Struggling To Win Back Investors

Jun 18, 2021 at 11:00 | Felicity Bradstock

Long overdue government legislation must come into place in Nigeria if the country hopes to reform its oil industry to make it more accessible for international players and…

Big Oil Looks To Cut Production Following Activist Backlash

Jun 18, 2021 at 10:55 | Alex Kimani

Two weeks ago, Big Oil suffered a series of boardroom and courtroom defeats in the hands of hardline climate activists. Exxon Mobil lost…

The Unmistakable Impact Of The IEA’s ‘Fantasy’ Report

Jun 18, 2021 at 10:55 | Felicity Bradstock

In an effort to adapt to Trudeau’s recent green policies and owing to pressure from the International Energy Agency (IEA), Canadian oil sand producers have formed an alliance…

New Chinese Tax Law Threatens Oil Refiners Across The Region

Jun 18, 2021 at 10:50 | Haley Zaremba

Just last month, on May 14, China announced a new tax on consumption of mixed aromatics, light cycle oil and bitumen blend, set to be instituted less than…

The Energy Transition Will Provide A Wealth Of Opportunities In Europe

Jun 18, 2021 at 10:48 | Global Risk Insights

Energy dependence of European countries has become evident as a consequence of the geopolitical turmoil during the two Oil Crises of the 1970s and in…

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