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OPEC+ Ready To Risk Higher Prices

OPEC+ Ready To Risk Higher Prices

OPEC+ is ready to risk…

Energy / Crude Oil

Exxon Is By Far The Best Bet On Guyana’s Offshore Oil Boom

Oct 27, 2021 at 12:12 | Matthew Smith

Global energy supermajor ExxonMobil is one of the few Western energy companies to invest in developing Guyana’s burgeoning oil industry. Since making the first high quality oil discovery…

Alaska’s Oil Renaissance Stumbles Despite Rise In Crude Prices

Oct 27, 2021 at 11:48 | Haley Zaremba

As the United States slowly begins to recover from the economic low-point of the pandemic, some states are getting left behind. Jobs numbers…

Pipeline Leak Disrupts Libya’s Oil Exports

Oct 27, 2021 at 10:51 | Julianne Geiger

Libya’s Es Sider pipeline has a major leak that will require a 7- 10-day shutdown for maintenance, NOC reported on Wednesday. The news comes on the back of Tuesday’s report…

Crude Build Puts The Brakes On The Oil Price Rally

Oct 27, 2021 at 09:38 | Irina Slav

Crude oil prices retreated today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to October 22. This compared with a…

OPEC+ Ready To Risk Higher Prices

Oct 27, 2021 at 09:05 | Charles Kennedy

OPEC+ is ready to risk prices going higher and affecting demand rather than add more supply to curb the upward potential of benchmarks, Reuters’ John Kemp wrote in a…

A Global Oil Shortage Is Inevitable

Oct 26, 2021 at 16:53 | Tsvetana Paraskova

Chronic underinvestment in new oil supply since the 2015 crisis and the pressure on oil and gas companies to curb emissions and even “keep it in the ground”…

Money Managers Are Throwing Their Weight Behind The Oil Price Rally

Oct 26, 2021 at 11:24 | Irina Slav

The prospect of Brent crude reaching $90 per barrel is becoming increasingly realistic, and West Texas Intermediate yesterday…

Aramco CEO: Underinvestment In Oil Is A ‘’Huge Concern’’

Oct 26, 2021 at 10:03 | Charles Kennedy

Crude oil production capacity is dwindling globally, and more investments in new production are needed urgently, Aramco's chief executive told Bloomberg. "It's a huge concern," Amin Nasser said, adding that…

Saudi Oil Minister: OPEC+ Shouldn't Rush To Boost Production

Oct 25, 2021 at 09:36 | Irina Slav

OPEC+ needs to remain cautious with its approach to oil production adjustments despite rising prices, Saudi Arabia’s oil minister Abdulaziz bin Salman told Bloomberg in an interview. Bin Salman…

Oilfield Service Companies Can’t Catch A Break

Oct 22, 2021 at 13:59 | Haley Zaremba

Unless you’ve been living under a rock, you’re probably well aware that oil and gas prices are skyrocketing around the United States and around the world. As the…

Putin: Not All OPEC+ Producers Can Ramp Up Output Quickly

Oct 22, 2021 at 09:08 | Tsvetana Paraskova

Although the OPEC+ alliance is currently ramping up its collective crude oil production slightly above what they had agreed on, not all members of the group can quickly raise their…

Canada’s Oil Industry Is Facing Resistance On All Fronts

Oct 21, 2021 at 11:39 | Felicity Bradstock

According to the International Energy Agency (IEA), Canadian oil is set to decline within the next decade. That has not stopped funding from flooring into new projects however…

Venezuela’s Crumbling Oil Industry Is An Environmental Time Bomb

Oct 21, 2021 at 11:35 | Matthew Smith

Venezuela’s profound economic and humanitarian crisis fails to attract the headlines it once did, particularly after the U.S. recognized interim president Juan Gauido’s May 2019 uprising failed. While…

Oil Rebounds On Surprise Crude Inventory Draw

Oct 20, 2021 at 09:38 | Irina Slav

A week after it reported a sizeable oil inventory build that pushed prices lower for a while, the EIA today said crude oil had last week shed 400,000…

Excitement Builds As Big Oil Prepares To Release Earnings

Oct 19, 2021 at 13:20 | Alex Kimani

Third-quarter 2021 earnings season is about to hit high gear, with 72 S&P 500 companies set to report this week. Among them are

Biden Administration Begs OPEC For More Oil

Oct 19, 2021 at 10:04 | Charles Kennedy

The Biden administration is not giving up on its attempts to convince OPEC that it needs to pump more oil as retail fuel prices remain uncomfortably high across the United…

Permian Oil Output Close To Pre-Pandemic Level

Oct 19, 2021 at 09:06 | Irina Slav

Crude oil production in the Permian has climbed closer to pre-pandemic levels, according to the latest drilling productivity report of the Energy Information Administration. According to the report, oil…

OPEC+ Under Produces Quota Despite Calls For More Oil

Oct 18, 2021 at 11:10 | Tsvetana Paraskova

The OPEC+ group saw its overall compliance with the collective oil production cuts at 115 percent in September, a delegate told Argus on Monday, down from the 116-percent compliance…

How Much Oil Can OPEC Realistically Add?

Oct 15, 2021 at 13:28 | Alex Kimani

Two weeks ago, in a short and terse affair that did nothing to address the spill-over from overheating gas markets, OPEC+ confirmed that it would stick to its…

China Once Again Cuts Oil Import Quotas For Indepedent Refiners

Oct 15, 2021 at 10:41 | Irina Slav

Beijing has cut the crude oil import quotas for independent refiners for the rest of the year in the latest move to curb their growing oil market clout, Reuters has…

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