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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Energy

The World’s Most Productive Oil Field

Jan 03, 2019 at 12:35 | Robert Rapier

Many people will tell you that the production rate of Saudi Arabia’s Ghawar oil field, which has yielded 5 million barrels of petroleum per day for decades, will never be…

Oil Buyers’ Market In Asia Set To Continue

Jan 03, 2019 at 11:54 | Irina Slav

With all the oversupply concern among oil traders, the buyers’ market in Asia is likely to remain strong this year, S&P Global Platts reports today, citing local traders. Everyone…

Moody’s: The Shale Band Is Back, And Here To Stay

Jan 03, 2019 at 10:58 | Irina Slav

Oil prices will remain volatile this year but within range, Moody’s said in its annual report on the oil and gas industry. The top factor to watch in 2019…

U.S. Gasoline Prices Could Be About To Skyrocket

Jan 03, 2019 at 09:19 | Irina Slav

Gasoline prices at the pump are at more than a year’s low, but this may change in the coming months, according to the head of petroleum analysis at GasBuddy, Patrick…

Oil Prices Rise As Saudi Oil Exports Plummet

Jan 02, 2019 at 14:22 | Julianne Geiger

Saudi Arabia’s oil exports plummeted in the last month of 2018, reassuring oil markets that OPEC’s de facto leader may have enough fortitude to carry the water of the cartel…

Oil Is At The Mercy Of Financial Markets

Jan 02, 2019 at 14:17 | Nick Cunningham

Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing.…

The Next Big Step In Oil And Gas Tech

Jan 02, 2019 at 13:55 | Irina Slav

The oil industry, it seems, has gone all-in on digital technology, having gotten an early taste of how much various solutions can influence its cost discipline and bottom lines. Last…

Can Mozambique Avoid The Natural Resource Curse?

Jan 02, 2019 at 13:21 | Tim Daiss

The field of global liquefied natural gas (LNG) producers will get even more crowded going forward. U.S. oil major Exxon Mobil said Monday that it, along with project partners…

Nigeria Boosts Oil Production As OPEC Cuts Begin

Jan 02, 2019 at 10:52 | Tsvetana Paraskova

Days before OPEC’s production cuts started on January 1, France’s Total had started up oil production from Nigeria’s ultra-deepwater oil field Egina, which is expected to produce 200,000 bpd at…

Oil Begins New Year With A Loss

Jan 02, 2019 at 09:04 | Irina Slav

Crude oil trading in the new year began with a slide, with Brent crude trading at US$53.12 a barrel at the time of writing, down 1.26 percent, and West Texas…

Why 2019 Could Start With An Oil Rally

Dec 31, 2018 at 12:06 | Nick Cunningham

Oil prices have regained significant ground since the Christmas Eve meltdown, and there is potential for higher prices in the weeks ahead. Trying to guess what will happen next with…

The New Oil Order

Dec 31, 2018 at 12:05 | Nawar Alsaadi

In the decades preceding the arrival of U.S. shale oil, the oil market had only one stabilizing force, namely OPEC. The reason the oil market was structured as such was…

Oil Tanker Firms Scrap Most Ships In Three Decades

Dec 31, 2018 at 11:50 | ZeroHedge

Companies around the world have scrapped a record number of large crude tankers in 2018. About 100 vessels of the industry’s main crude carriers have been sent to India and Bangladesh for demolition, according to data from Clarkson Research…

Will Exxon Greenlight This Huge LNG Project?

Dec 31, 2018 at 11:49 | Irina Slav

Exxon has secured long-term purchasing commitments for liquefied natural gas from its Rovuma project in Mozambique, moving closer to a final investment decision on a facility that will add as…

$70 Oil Could Be Right Around The Corner

Dec 31, 2018 at 11:32 | Tim Daiss

Oil markets have always been cyclical, and now even more so with advanced electronic trading, more speculation (which often results in wider oil price swings) and more producers, including the…

U.S. Shale Challenges OPEC’s Oil Dominance In Asia

Dec 31, 2018 at 11:29 | Tsvetana Paraskova

The explosive growth of U.S. shale production has capped gains of international and U.S. oil prices, offsetting OPEC’s production cuts in the first half of the year and contributing to…

Canadian Rig Count Slumps At Year-End

Dec 31, 2018 at 10:30 | Irina Slav

Canada’s drilling rig count fell by 61 rigs in the last week of December from a week earlier, with the annual decline at 66 rigs, per the latest weekly rig…

Oil Set For First Annual Drop In Three Years

Dec 31, 2018 at 09:26 | Irina Slav

Despite a slight recovery in oil prices on the last day of 2018, benchmarks are set for their first overall annual decline since 2015, Reuters reports, noting since the…

Low Oil Prices Could Cripple Texas Job Growth

Dec 28, 2018 at 12:32 | Nick Cunningham

Job growth in Texas is not exactly screeching to a halt, but low oil prices could start to lead to weaker employment figures.  “The Texas labor market will likely tighten…

Why Oil Prices Rose And Crashed In 2018

Dec 28, 2018 at 12:27 | Robert Rapier

Last week the price of West Texas Intermediate (WTI) crude oil, the primary U.S. benchmark, fell to a 17-month low. The price, $45.88/bbl, marks a stunning fall from a price that closed…

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