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Brent Slips Below $45 As Glut Uncertainty Continues

Jun 21, 2017 at 20:41 | Zainab Calcuttawala

Brent crude slipped below $45 on Wednesday, reaching its lowest price since last November as a supply glut continues to plague oil markets, according to a new report by

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EIA Tracks Over 200 Percent Growth In Crude Oil Exports Since 2010

Jun 21, 2017 at 20:37 | Zainab Calcuttawala

Between 2010 and 2016, American crude and petroleum product exports more than doubled from 2.4 million barrels per day to 5.2 million bpd, according to a new report from…

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Offshore Gulf Of Mexico Operations Continue As Cindy Rages On

Jun 21, 2017 at 20:33 | Zainab Calcuttawala

Two of British Petroleum’s major projects have had the storm pass over them, with equipment successfully weathering rain and minor ocean swells. The oil major had evacuated non-essential workers from…

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Oil Dependency Climbs As Supply Rises And Prices Fall

Jun 21, 2017 at 14:11 | Peter Tertzakian

(Click to enlarge) Headlines around electric cars and carbon policy suggest our oil dependency is on a slippery downward slope. Recent data from 2016 suggests…

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Paris Agreement Could Cost Big Oil Big Bucks: Report

Jun 21, 2017 at 14:07 | Irina Slav

If governments around the world stick to the Paris Agreement targets for CO2 emissions, big oil companies stand to lose US$2.3 trillion in the period until 2025. This is the…

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China Set To Slow Refinery Runs In Q3, Hurting Oil Demand Growth

Jun 21, 2017 at 13:13 | Tsvetana Paraskova

China’s refineries are expected to shut nearly 10 percent of the country’s 15.1-million-bpd refinery capacity in the third quarter¬—the peak demand season—dampening prospects for global oil demand growth on which…

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Norway To Auction Record Number Of Arctic Oil Exploration Blocks

Jun 21, 2017 at 11:40 | Tsvetana Paraskova

Norway’s Ministry of Petroleum and Energy said on Wednesday that it was offering a total of 102 blocks up for exploration in the 24th licensing round on the Norwegian Continental…

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Exxon’s Guyana Play Could Be As Price Competitive As The Permian

Jun 21, 2017 at 10:48 | Zainab Calcuttawala

Guyana got its fifth deepwater project of the year on Tuesday, when a consortium including Exxon Mobil, Hess Corp, and CNOOC green-lighted a $4.4 billion investment in the newly…

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ELN Attacks Colombia’s Second-Largest Oil Pipeline Again

Jun 21, 2017 at 09:22 | Zainab Calcuttawala

Marxist rebels from the ELN attacked Colombia’s second-largest crude pipeline over the weekend, causing a complete halt in its flow, according to military and Ecopetrol sources that spoke to Reuters…

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Oil Prices Get Tiny Reprieve As API Reports Modest Crude Draw

Jun 20, 2017 at 15:54 | Julianne Geiger

The American Petroleum Institute (API) reported a draw of 2.72 million barrels in United States crude oil inventories, compared to analyst expectations that the EIA would report a

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