Wood Mackenzie has said that…
Bullish sentiment is finally seeping…
Oil industry leaders are revising…
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…
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…
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…
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…
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 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 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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…