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What BP Got Wrong About Global Oil Demand

What BP Got Wrong About Global Oil Demand

The recent BP Energy Outlook…

High Diesel Inventories Weigh On Oil Markets

High Diesel Inventories Weigh On Oil Markets

Soaring middle distillate inventories such…

Energy / Crude Oil

Low Oil Prices Haven’t Derailed Brazil’s Offshore Boom

Sep 21, 2020 at 14:04 | Matthew Smith

Activity in Brazil’s energy patch keeps ratcheting ever higher. During January 2020, Latin America’s largest economy saw its all-important petroleum industry achieve a new milestone pumping on average…

Gulf Of Mexico Oil Drillers Evacuate As Another Storm Approaches

Sep 21, 2020 at 09:56 | Tsvetana Paraskova

Oil producers in the western Gulf of Mexico are bracing for yet another storm this week as Tropical Storm Beta is moving toward west and northwest, threatening storm conditions along…

Oil Prices Slide As Libya Restarts Production

Sep 21, 2020 at 09:09 | Irina Slav

Libya’s National Oil Corporation will restart production from certain fields and some exports of crude oil, the company said, as quoted by local media, adding that it will only…

High Diesel Inventories Weigh On Oil Markets

Sep 20, 2020 at 09:54 | Tsvetana Paraskova

While most of the market’s attention has been focused on how fast gasoline demand will recover, lower economic and manufacturing activity in all regions of the world has…

Investors Are Pulling The Plug On Argentina’s Prized Shale Play

Sep 18, 2020 at 17:30 | Haley Zaremba

Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom…

China’s Crude Oil Imports Are Slowing Down

Sep 18, 2020 at 13:46 | Charles Kennedy

China’s imports of crude oil have been trending much lower in September than in the past four months, while the rest of Asia is also significantly slowing imports this month…

Russian Oil Minister: Global Oil Inventories Are In Decline

Sep 18, 2020 at 09:11 | Irina Slav

Global inventories of crude oil declined by 45 million barrels in August after a 34-million-barrel reduction in July, Russia’s Energy Minister Alexander Novak said in a TV interview. "Reserves…

Oversupply Adds To Grim Oil Demand Outlook

Sep 17, 2020 at 17:24 | Irina Slav

OPEC and the International Energy Agency delivered bad news for the oil market this week. Both authorities revised their oil demand forecasts for this year, and both revised…

Lower Oil Production Hits Pipeline Operators Hard

Sep 17, 2020 at 15:31 | Tsvetana Paraskova

Just two years ago, U.S. pipeline operators were rushing to build pipelines in Texas to move surging Permian oil and gas production to the refining and export centers…

A Wave Of Consolidations Hit Canada’s Oil Patch

Sep 17, 2020 at 14:39 | Alex Kimani

A vicious one-two-three punch that started with a gloomy long-term future outlook due to rampant fossil fuel divestments, climate change policies, and decarbonization as well as shorter-term—but severe—shocks from the…

U.S Keeps Top Crude Oil Producer Status

Sep 17, 2020 at 12:59 | Charles Kennedy

Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of crude oil in July, ahead…

OPEC Warns That Second Wave Of COVID Will Derail Demand Recovery

Sep 17, 2020 at 09:12 | Irina Slav

A resurgence in Covid-19 cases in some countries could further dampen oil demand and interfere with a decline in oil inventories, Reuters has reported, citing an internal document of…

What BP Got Wrong About Global Oil Demand

Sep 16, 2020 at 17:39 | Cyril Widdershoven

Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook…

BP Bombshell: India’s Oil Demand May Peak In 2025

Sep 16, 2020 at 14:21 | Tsvetana Paraskova

The world’s third-largest oil importer, India, will be the biggest source of energy demand growth through 2050 in any scenario about government policies about the energy transition. However, India may…

Oil Tanker Industry Is In An Ocean Of Trouble

Sep 16, 2020 at 14:04 | Irina Slav

There has been more than enough written about the woes of various segments of the oil industry and related industries so far this year. But there is one industry that…

World’s No.1 Oil Trader Sees Crude Inventories Shrinking This Year

Sep 16, 2020 at 11:08 | Tsvetana Paraskova

Vitol Group, the world’s largest independent oil trader, expects global oil inventories to continue drawing down for the rest of the year, unlike its rivals and many analysts who see…

Oil Rises After EIA Confirms Crude Inventory Draw

Sep 16, 2020 at 09:42 | Irina Slav

Crude oil prices inched up further today after the Energy Information Administration reported a crude oil inventory draw of 4.4 million barrels for the week to September 11. Fuel…

U.S. Shale Production Continues To Decline

Sep 15, 2020 at 09:07 | Irina Slav

Crude oil production in the U.S. shale patch is set to decline by 68,000 bpd next month, with every play registering declines in output except the Permian, the Energy Information…

Second Wave Of COVID Could Crush Road Fuel Recovery

Sep 14, 2020 at 16:00 | Charles Kennedy

A resurgence of coronavirus cases in many parts of the world over the next few months will be the main hurdle to global demand for gasoline and diesel recovering to…

Traders Charter Supertankers Amid Signs Of New Oil Glut

Sep 11, 2020 at 13:44 | Tsvetana Paraskova

The world’s top oil traders have been chartering dozens of supertankers for potentially storing oil at sea amid signs that demand recovery has stalled.   Trafigura has chartered 12 very…

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