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BP Tries To Reverse Big Oil’s Fortunes in Brazil

BP Tries To Reverse Big Oil’s Fortunes in Brazil

Despite lackluster results from other…

Energy / Crude Oil

AI Infiltrates Oil Industry To Speed Up Drilling, Cut Costs

Mar 18, 2024 at 10:29 | Irina Slav

Many tech analysts have accused the oil industry of being too slow to adopt new technology. Yet the industry is itself the source of much technological progress in its narrow,…

New Technology Is Fueling America’s Oil Boom

Mar 18, 2024 at 08:41 | Robert Rapier

In mid-December, I wrote here that the U.S. had set a new annual oil production record:   “The U.S. set a…

Why Did Biden Forget To Mention Booming U.S. Oil in State of the Union Speech?

Mar 14, 2024 at 09:59 | Robert Rapier

President Joe Biden delivered the 2024 State of the Union address last Thursday night under what is always one of the most intense spotlights of the year. This…

Bullish Oil & Gas Producers Remain Under-hedged

Mar 14, 2024 at 09:55 | Alex Kimani

Oil prices edged up in Wednesday’s session supported by a decline in U.S. crude inventories, Ukrainian attacks on Russian refineries and signs of strong demand. According to weekly…

Oil Steady as EIA Confirms Crude, Gasoline Draws

Mar 13, 2024 at 09:37 | Irina Slav

The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up.…

Can Nuclear Power “Decarbonize” the Oil and Gas Industry?

Mar 13, 2024 at 09:00 | Felicity Bradstock

Governments and private companies worldwide have been exploring the idea of reducing emissions from oil operations by using nuclear energy. There is increasing pressure for oil and gas firms to…

Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

Mar 12, 2024 at 09:40 | Robert Rapier

The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher.

OPEC Remains Upbeat About Oil Demand

Mar 12, 2024 at 09:36 | Charles Kennedy

OPEC remains optimistic that the world will see robust oil demand growth this year and next amid improving economies and further upside potential in global economic growth. In its closely-watched…

IEA, OPEC Divergence on Oil Demand Becomes Too Big To Ignore

Mar 12, 2024 at 09:28 | Irina Slav

Ever since the International Energy Agency switched from a pure-play information provider to an advocate of the energy transition, its forecasts about oil demand have shifted to increasingly reflect this…

Big Oil Pursues African Expansion Despite Challenges

Mar 11, 2024 at 13:23 | Irina Slav

Investments in new oil production have been stalling since about 2014. This has led many to suggest that higher prices for longer are on the cards, supported by anti-oil industry…

Kazakhstan Eyes Expanded Routes for Oil Exports in 2024

Mar 11, 2024 at 09:24 | Eurasianet

Kazakhstan increased oil exports by volume last year, but flagging prices meant this translated into diminished earnings. The plan for 2024 is to keep expanding sales abroad, although…

Offshore Oil & Gas E&P Staging A Comeback

Mar 08, 2024 at 13:51 | Tsvetana Paraskova

The oil industry has found its newest exploration hotspot offshore Namibia. The high success rate of drilling and appraisal activity offshore Africa's southwestern coast is spurring Big Oil to boost…

China Holds The Key To 2024 Global Oil Demand Growth

Mar 08, 2024 at 08:53 | Tsvetana Paraskova

Despite an increase in China’s crude oil imports in the first two months of 2024, it’s too early to say how the purchases of the world’s top crude importer will…

Iran's Revolutionary Guards Capture Oil Tanker Amid Sanctions Dispute

Mar 08, 2024 at 08:14 | RFE/RL staff

When Iran seized a Marshall Islands-flagged oil tanker last year, Tehran said the transporter had collided with and damaged an Iranian vessel in the Gulf of Oman.

Kuwait Sees Solid Oil Demand In A Fairly Balanced Market

Mar 07, 2024 at 09:29 | Charles Kennedy

Global oil demand looks robust in a balanced market this year, Shaikh Nawaf Al-Sabah, chief executive of Kuwait’s state oil firm Kuwait Petroleum Corporation (KPC), told Bloomberg in an 

Standard Chartered: OPEC’s Latest Move Is Bullish

Mar 07, 2024 at 08:14 | Alex Kimani

Oil markets have managed to reverse their early week losses, inching up higher in Wednesday’s session after the Energy Information Administration reported significant inventory draws across various fuels. The…

Oil Inches Higher on Fuel Inventory Draws

Mar 06, 2024 at 09:37 | Irina Slav

Crude oil prices moved higher today, after the Energy Information Administration reported estimated inventory draws across fuels. In crude, the EIA reported a build of 1.4 million barrels for…

BP Tries To Reverse Big Oil’s Fortunes in Brazil

Mar 06, 2024 at 08:25 | Irina Slav

Back in 2019, Brazil produced over 1 billion barrels of crude oil. It was the first time the national total had broken the billion-barrel mark, and more than half…

India Makes Bold Move to Reduce Dollar Dependency in Oil Trade

Mar 06, 2024 at 08:01 | ZeroHedge

Four months after India's government rejected demands from Russian oil companies to pay for Russia's crude exports in Chinese yuan, it appears India…

Oil Prices Could Surprise to the Upside This Year

Mar 05, 2024 at 08:12 | Irina Slav

Crude oil prices recently logged their second monthly gain in a row as OPEC+ extended their supply curb deal until the end of Q2 2024. The gains have…

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