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EIA Takes Markets By Surprise, Reports Major Crude Oil Inventory Draw

Apr 26, 2017 at 09:49

Amid growing pessimism regarding an extension of OPEC’s oil production deal, and a day after the American Petroleum Institute reported an estimated increase of 897,000 barrels in U.S. commercial…

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Can An OPEC Extension Push Oil To $60?

Apr 25, 2017 at 15:38

It now seems quite likely that OPEC will agree to an extension of November’s production cut agreement at their May meeting. The question facing analysts and market watchers is how…

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Top 5 Risks To Oil Prices

Apr 25, 2017 at 15:35

Global oil inventories have started to decline and the supply/demand balance will soon tip into a deficit, if it hasn’t already. That will accelerate the drawdowns in crude oil stocks,…

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Iceland Geothermal Project Completes Deep Drilling In Volcano

Apr 25, 2017 at 15:32

Geologists and engineers have successfully drilled into the heart of a volcano in Iceland, as part of a project aimed at assessing the economic feasibility of using deep unconventional geothermal…

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Mexico Looks Overseas For New Oil Export Destinations

Apr 25, 2017 at 15:24

Two weeks ago, Mexican crude oil exports to the U.S. saw a 43 percent weekly drop to 290,000 bpd, versus a 52-week average of 561,000 bpd. The sharp drop…

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Aramco Insiders Suggest The Company May Not Be Worth $2 Trillion

Apr 25, 2017 at 15:18

As Saudi Arabia's deputy crown prince, Mohammad bin Salman Al Saud, pushes his nation's Vision 2030 economic overhaul and crows of the $2 trillion Saudi Aramco valuation (ahead of its…

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Will Russia Join The OPEC Cut Extension?

Apr 25, 2017 at 14:10

As the global oil supply glut grows, Russia has not yet climbed on board of OPEC's production cut agreement extension.   (Click to enlarge)  

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Will Libya’s Production Rebound As Its Largest Oil Field Re-Opens?

Apr 25, 2017 at 13:14

Libya’s biggest oil field, Sharara, which has been offline for most of the past month, is set to reopen after the Petroleum Facilities Guard (PFG) reached an agreement with protesters…

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OPEC’s No.2 Plans Significant Raise In Crude Output Next Year

Apr 25, 2017 at 11:20

Iraq has started work on the third and final phase of the Halfaya oil field expansion, with the goal to double production capacity next year, a company official at the…

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Barents Sea Oil Reserves Twice As Big As Previously Thought

Apr 25, 2017 at 09:56

The Norwegian Petroleum Directorate (NPD) said on Tuesday that its latest estimates show that the undiscovered oil and gas resources in the Barents Sea are twice as large as…

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