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U.S. Drilling Activity Inches Up

U.S. Drilling Activity Inches Up

The total number of active…

How Iraq Continues To Trick Washington

How Iraq Continues To Trick Washington

The U.S. government has multiple…

Energy

Oil Jumps On Expectations Of Slowing Inventory Builds

May 04, 2020 at 11:10 | ZeroHedge

Hot on the heels of Goldman's bullish reversal on the oil sector, in which the bank's commodity strategist Damien Courvalin said on Friday that "it now appears likely that the…

Saudi Arabia Braces For “Painful” Austerity Measures As Low Oil Prices Persist

May 04, 2020 at 10:22 | Irina Slav

Saudi Arabian stocks fell on the first day of trading this week after the Finance Minister of the Kingdom warned that the government was preparing to implement “painful” measures for…

Oil Opens Lower As U.S.-China Spat Escalates

May 04, 2020 at 09:14 | Tsvetana Paraskova

After posting the first weekly gain in a month, oil prices plunged early on Monday as tensions between the United States and China grew over the origin of the coronavirus,…

A Major Bull Run Is Forming In Oil Markets

May 01, 2020 at 17:16 | Cyril Widdershoven

The oil market is facing an unprecedented crisis as COVID-19 causes demand destruction and OPEC+ has proven powerless to stop oil prices from crashing. But behind what seems…

Oil Price Crash Hits Latin American Drillers Hard

May 01, 2020 at 17:05 | Nick Cunningham

Rigs are vanishing at a rapid clip in the United States, but oil and gas drilling activity is also falling worldwide.  The international rig count fell…

Russia’s Gazprom Moves Forward With New Mega Pipeline

May 01, 2020 at 17:02 | Viktor Katona

The Russian gas export monopoly Gazprom has hit the wall with new European projects – Nord Stream 2 will be finished at some point in the second half…

COVID-19 Could Accelerate The Arrival Of Peak Oil Demand

May 01, 2020 at 17:02 | Tsvetana Paraskova

Until three months ago, the oil industry was pinning its hopes on aviation, alongside petrochemicals, for continued growth in oil demand for at least another decade.  

Iraqi Kurdistan On The Brink Of Collapse As Oil Prices Crash

May 01, 2020 at 16:54 | Viktor Katona

Attentive Oilprice readers must have read at least a dozen articles describing how hard Iraq has been hit by the drop in oil prices. Iraq’s political travails are…

Canada’s Oil Patch Struggles To Survive The Worst Recession Ever

May 01, 2020 at 16:54 | Tsvetana Paraskova

Canada is likely going through its worst-ever recession, with more pain to come in May when the statistics authorities and analysts will have a fuller picture of the…

The Most Critical Oil Storage In The United States

May 01, 2020 at 16:51 | Irina Slav

“Cushing, Oklahoma: Pipeline Crossroads of the World.” The emblematic slogan of the Cushing oil hub does not exaggerate. Cushing, a town of several thousand, has become a media…

Ethanol Is Taking A Beating In The COVID-19 Crisis

May 01, 2020 at 16:46 | Robert Rapier

In a previous article, I reported that gasoline demand had plummeted to the lowest demand number in more than 50 years.

The Dirty Truth About Delivery Drones

May 01, 2020 at 16:38 | Haley Zaremba

With crude oil prices in the toilet, hundreds of millions of gallons of oil stranded in tankers around the world with no buyers, and an oil industry in…

A Rare Week Of Optimism For Oil

May 01, 2020 at 12:37 | Tom Kool

Oil markets are on course to see their first weekly gain in over a month as the OPEC+ production cut comes into effect and a wave of shut-ins hit the…

U.S. Rig Count Falls By Nearly 50% In Seven Weeks Of Crisis

May 01, 2020 at 12:35 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 57, falling to 408, with the total oil and…

Why $20.27 Is A Critical Point For Oil

May 01, 2020 at 11:23 | Editorial Dept

U.S. West Texas Intermediate crude oil futures are up for a third straight session on Friday as major producers began output cuts to offset a slump in fuel demand triggered…

When Will U.S. Oil Storage Reach Its Limit?

May 01, 2020 at 11:23 | Editorial Dept

1. EM currencies hold up against oil- Sixteen of 25 emerging market currencies analyzed by…

The Problem With OPEC's Production Cut

May 01, 2020 at 11:23 | Editorial Dept

Market Movers - While the market waits for the critical OPEC+ production cut deal to kick in, early data on OPEC’s April production suggests that it hit 13-month highs in…

An Extraordinary Trade For Extraordinary Times

May 01, 2020 at 11:22 | Editorial Dept

There can be no doubt that we are living in strange times. Looking like a bandit when we leave our house has passed from behavior that is considered reprehensible to…

The Oil Nations On The Brink Of Collapse

May 01, 2020 at 11:22 | Editorial Dept

Global upheaval is likely to result from the oil price crash, upending the current fragile balance of power because key oil-producing countries, including Iraq and Nigeria, can’t buy their way…

ExxonMobil Reports First Quarterly Loss Since 1999

May 01, 2020 at 10:10 | Tsvetana Paraskova

ExxonMobil (NYSE: XOM) reported on Friday a surprise first-quarter loss on the back of hefty write-downs amid the oil price plunge, posting its first quarterly loss since the 1999 merger of Exxon…

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