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Oil Prices Fall On Bearish EIA Data

Oil Prices Fall On Bearish EIA Data

Oil prices fell on Wednesday…

Energy / Crude Oil

IEA: An Oil Glut Is Inevitable In 2020

IEA: An Oil Glut Is Inevitable In 2020

Dec 12, 2019 at 14:23 | Nick Cunningham

Despite the OPEC+ cuts, the oil market is still facing a supply surplus in 2020, according to a new report from the International Energy Agency (IEA). OPEC+ announced additional cuts…

Is This The Most Important Oil Price Driver In 2020?

Is This The Most Important Oil Price Driver In 2020?

Dec 12, 2019 at 11:57 | Tsvetana Paraskova

Even if the OPEC+ coalition manages to remove as much as 2.1 million barrels of oil per day from the market in the first quarter next year, oil prices…

Is A New Price War Looming For OPEC?

Is A New Price War Looming For OPEC?

Dec 12, 2019 at 11:47 | Robert Rapier

Last week OPEC, Russia and other oil-producing nations agreed to additional oil production cuts in an effort to support oil prices. Following the 177th Meeting of the…

IEA Pours Cold Water Over OPEC+ Optimism

IEA Pours Cold Water Over OPEC+ Optimism

Dec 12, 2019 at 09:07 | Irina Slav

Despite deeper OPEC+ production cuts, global oil supply will be about 700,000 bpd in excess of consumption in early 2020, the International Energy Agency said in its latest monthly

OPEC Reduced Oil Production Ahead Of Deeper Cuts Decision

OPEC Reduced Oil Production Ahead Of Deeper Cuts Decision

Dec 11, 2019 at 11:11 | Tsvetana Paraskova

OPEC’s crude oil production declined by 193,000 bpd in November from October, as the cartel’s leader Saudi Arabia cut production ahead of the OPEC+ meeting, Iraq tried to fall in…

Oil Prices Fall On Bearish EIA Data

Oil Prices Fall On Bearish EIA Data

Dec 11, 2019 at 09:47 | Irina Slav

Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 800,000 barrels for the first week of December. Besides it, the…

Argentina's Shale Boom Hits New Milestone

Argentina's Shale Boom Hits New Milestone

Dec 10, 2019 at 09:14 | Irina Slav

YPF, the Argentine state energy company, has drilled the longest horizontal oil well lateral, at 3,890 meters, or more than 12,700 feet, in the Vaca Muerta shale play, S&P Global…

Lower Oil Production Will Cause Saudi Budget Deficit To Balloon

Lower Oil Production Will Cause Saudi Budget Deficit To Balloon

Dec 09, 2019 at 15:15 | Julianne Geiger

Saudi Arabia is predicting that its budget deficit will balloon to US$50 billion next year as low oil prices and lowered production eat into the Kingdom’s oil revenue, according an…

Libya Declares Force Majeure On Loadings From El-Feel Oilfield

Libya Declares Force Majeure On Loadings From El-Feel Oilfield

Dec 09, 2019 at 12:37 | Tsvetana Paraskova

Libya’s volatile production and exports may inadvertently help OPEC and its allies in supply restrictions these days, after the Libyan National Oil Corporation (NOC) has declared force majeure on crude…

The Danger Of Deeper OPEC+ Cuts

The Danger Of Deeper OPEC+ Cuts

Dec 06, 2019 at 14:29 | Nick Cunningham

OPEC+ agreed to cut production by 500,000 bpd, sending oil prices higher on Friday. During mid-day trading, WTI was just shy of $60 per barrel, and Brent moved closer to…

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