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OPEC Oil Basket Falls Below WTI

The price of the OPEC…

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China Aims For Market Share In African Refining Sector

Sinopec recently became the first…

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Qatar Spat Spills Over To Libya’s Oil, Rekindles Political Divides

Jun 14, 2017 at 12:24 | Tsvetana Paraskova

Just as Libya’s National Oil Corporation (NOC) is targeting to raise crude oil output to 1 million bpd by the end of July, the rivaling factions in the east and…

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Tillerson Seeks To Turn Oil Tap Off For North Korea

Jun 14, 2017 at 09:37 | Irina Slav

The U.S. will focus its efforts on shutting off North Korea’s access to crude oil, Secretary of State Rex Tillerson said yesterday at a Senate Foreign Relations committee hearing. In…

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Oil Prices Plunge After API Reports Surprise Build In Crude Inventories

Jun 13, 2017 at 15:51 | Julianne Geiger

The American Petroleum Institute (API) reported a build of 2.75 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a draw of

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Hedge Funds Ditch Long Positions On U.S. Natural Gas

Jun 13, 2017 at 14:10 | Zainab Calcuttawala

Leading into the summer, natural gas builds in the United States have caused hedge fund analysts to turn bearish on the fuel’s prices, according to a new report by

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OPEC Crude Oil Basket Hit Lowest Price Of The Year In May

Jun 13, 2017 at 13:19 | Tsvetana Paraskova

The OPEC Reference Basket (ORB) averaged US$49.20 per barrel in May, dropping by more than 4 percent over April, to its lowest level for 2017, as the market was range-bound…

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Norway’s Business Sentiment Highest Since Oil Price Crash Began

Jun 13, 2017 at 12:37 | Tsvetana Paraskova

Norway is emerging from the oil price downturn, with industries and regions reporting that output growth has “picked up somewhat” since February, and that growth is now at its strongest…

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Nigeria Oil Minister Warns OPEC Won’t Play Price Regulator Forever

Jun 13, 2017 at 11:59 | Irina Slav

In the latest sign that OPEC is becoming increasingly nervous about the absent success of its oil production cut deal, Nigeria’s Petroleum Minister Emmanuel Ibe Kachikwu warned the U.S.…

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Kazakhstan Rejects Report About Further Oil Output Cut

Jun 13, 2017 at 10:12 | Irina Slav

Kazakhstan has no plans to cut its crude oil production further, rejecting a report from Russia’s TASS agency that the Central Asian country was ready to cut deeper to offset…

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GE, Baker Hughes Get Green Light for Merger

Jun 13, 2017 at 09:30 | Irina Slav

The Department of Justice (DOJ) has given the go-ahead to a proposed merger between GE’s oil and gas business division and Baker Hughes that will create an oilfield service company…

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Refracking Extracts 200,000-250,000 Additional Barrels In Bakken

Jun 12, 2017 at 18:14 | Zainab Calcuttawala

New fracking techniques for Bakken wells are allowing industry leaders to recover more oil without damaging surrounding lands, according to a new report by The Bismarck Tribune. Drilled but…

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