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Conoco To Box Suncor Out Of Oil Sands Deal

Conoco To Box Suncor Out Of Oil Sands Deal

ConocoPhillips will snap up TotalEnergies'…

Oil Price Bearishness Hits Pandemic Levels

Oil Price Bearishness Hits Pandemic Levels

This week, speculative oil positioning…

Energy / Crude Oil

The June OPEC Meeting May Spring A Nasty Surprise For The Oil Markets

May 29, 2023 at 18:20 | Simon Watkins

The recent assurance from Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak - that he does not expect the group to take any new decisions at their next…

Saudi-Russia Tensions Growing Ahead Of Key OPEC+ Meeting

May 29, 2023 at 16:12 | Tsvetana Paraskova

Days ahead of the key OPEC+ meeting on June 4, the leading producers in the group, Saudi Arabia and Russia, are at odds about output policy.  Riyadh has grown increasingly…

Turkey Hopeful After Recent Oil And Gas Discoveries

May 29, 2023 at 15:05 | Felicity Bradstock

Following several major oil discoveries in recent months, Turkey is optimistic about its energy potential. The country’s oil and gas company, Turkish Petroleum (TPAO), has accelerated its exploration activities in…

Here’s Why Oil Flows Can Only Be Redirected, Not Stopped

May 29, 2023 at 13:00 | Irina Slav

Asian oil imports were due for a marked rebound this month after the end of the maintenance season. Chances are that a lot of the additional oil would be coming…

Conoco To Box Suncor Out Of Oil Sands Deal

May 26, 2023 at 16:42 | Julianne Geiger

ConocoPhillips will snap up TotalEnergies' 50% stake in the Surmont oil sands field for more than $3 billion in a move that will prevent Suncor Energy from buying into the…

Oil Short-Sellers Might Be In For Another Big Squeeze

May 25, 2023 at 12:45 | Alex Kimani

Oil prices recorded big declines on Thursday, with WTI and Brent crude down 3% on the intraday session as debt ceiling jitters overcame optimism about another round of OPEC+ production…

Will OPEC+ Surprise The Market With Another Output Cut?

May 25, 2023 at 09:34 | Julianne Geiger

Oil short sellers have been issued a warning: watch out for more “ouching”. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, issued the threat earlier this week…

When Will Chinese Oil Imports Boost Oil Prices?

May 24, 2023 at 14:06 | Tsvetana Paraskova

China’s sluggish crude oil trade in the first quarter of the year has added to macroeconomic concerns and banking sector jitters to keep oil prices around $80 a barrel so…

Petrobras To Appeal Amazon Oil Rejection In Lula Litmus Test

May 24, 2023 at 12:01 | Tom Kool

Brazil’s state-run oil giant Petrobras is preparing to file a request to appeal a decision to reject the environmental license for exploratory drilling in the deep waters of the Amapa…

Oil Moves Higher As EIA Reports Huge Crude Draw

May 24, 2023 at 09:37 | Irina Slav

Crude oil prices jumped higher today after the U.S. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19. A…

Oil Price Bearishness Hits Pandemic Levels

May 23, 2023 at 13:15 | Alex Kimani

Nowadays, the oil bulls just can’t catch a proper break. After a heavy selloff following the collapse of Silicon Valley Bank routed the markets, the markets returned to a…

China Drives Rebound In Global Oil Demand, But There’s A Catch

May 22, 2023 at 11:56 | Simon Watkins

For many years now, the state of China’s economy has been one of the most important determinants of the oil price. The vast disparity between China’s oil needs…

Are We Nearing An Inflection Point For Oil?

May 22, 2023 at 10:21 | Cyril Widdershoven

Current oil market fundamentals are under pressure, and if you are listening to economists, hedgefunds or Western governments, you may conclude that the sentiment is decidedly bearish. The current low…

Small Oil Moves In Where Big Oil Moves Out

May 19, 2023 at 12:50 | Irina Slav

A Dutch court ruled against Shell two years ago in a case targeting the supermajor’s emission footprint. It obliged the company to slash its emissions by almost half from 2019…

U.S. Drilling Rigs Swing To Annual Loss For First Time In Years

May 19, 2023 at 12:25 | Julianne Geiger

The total number of total active drilling rigs in the United States fell by 11 this week, according to new data from Baker Hughes published Friday, after falling by 17…

Why AI Is The Future Of Offshore Oil Drilling

May 19, 2023 at 11:48 | Alex Kimani

Artificial Intelligence (AI) has emerged as some of the biggest secular megatrends of our time. AI is powering the fourth industrial revolution and is increasingly being viewed as…

U.S. Shale Production Is Set For A Rapid Decline

May 19, 2023 at 09:47 | David Messler

I have argued in several Oilprice articles, and most recently in February 2023, that the era of increasing output from shale wells did not have much…

The Death Of Fracking In Colombia

May 19, 2023 at 09:17 | Matthew Smith

Colombia’s beleaguered oil industry is facing a series of volatile headwinds as it struggles to return to a pre-pandemic tempo of operations. Petroleum output despite rising during March 2023 to…

Is Warren Buffett’s Favorite Energy Stock Overhyped?

May 18, 2023 at 16:12 | Alex Kimani

Over the past few years, Permian shale giant Occidental Corp.(NYSE:OXY) has become a darling of billionaire investors. Back in 2019, famous activist investor Carl Icahn bought a 2.5% stake in OXY…

Oil Price Predictions Have Become Oddly Polarized

May 18, 2023 at 13:29 | Alex Kimani

Last month, we reported that energy experts have been growing increasingly bearish on the oil price outlook compared to previous sentiment. Four energy agencies including the IEA and OPEC…

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