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Energy / Crude Oil

Oil Prices Hold Steady Despite Rising Fuel Stocks

Dec 02, 2020 at 09:43 | Irina Slav

Crude oil prices hesitated today after the Energy Information Administration reported an oil inventory draw of 700,000 barrels for the week to November 27 but a sizeable build in…

Traders Haven’t Been This Bullish On Oil Since August

Dec 02, 2020 at 08:45 | Tsvetana Paraskova

Since pharmaceutical companies started announcing vaccine breakthroughs three weeks ago, the oil market has seen the gloom from the soaring coronavirus cases turn into optimism that vaccine availability would help…

Norway To End Oil Production Cuts On December 31st

Dec 01, 2020 at 13:21 | Tsvetana Paraskova

Western Europe’s largest oil producer, Norway, will be ending the government-imposed oil production cuts at the end of the year, the Ministry of Petroleum and Energy said on Tuesday,…

Venezuela Triples Oil Exports Using Ghost Tankers

Dec 01, 2020 at 11:28 | Tsvetana Paraskova

Venezuela boosted its crude oil exports nearly threefold in November to more than 500,000 barrels per day (bpd), including by hiding the true identity of tankers to avoid detection, Bloomberg…

U.S. Oil Demand Set To Soar In The Coming Months

Nov 30, 2020 at 14:32 | Tsvetana Paraskova

Despite the surge in coronavirus cases in recent weeks, crude oil demand in the United States could be on track to increase in the coming months as inventories…

Canada's Oil Industry Will Be Indispensable For Decades To Come

Nov 27, 2020 at 16:42 | Irina Slav

Canada’s oil industry has been among those hardest hit by the coronavirus pandemic. Already struggling with low oil prices brought about by transport capacity shortage, Canadian oil producers…

The Single Biggest Threat To Venezuela's Future

Nov 27, 2020 at 16:27 | Matthew Smith

It was not too long ago that copious oil reserves such as the 303 billion barrels located in Venezuela, which are the world’s largest, were viewed as a…

Saudi Arabia Schedules Informal Meeting With OPEC+

Nov 27, 2020 at 09:07 | Tsvetana Paraskova

The leaders of the OPEC+ pact, Saudi Arabia and Russia, have requested an informal meeting of the Joint Ministerial Monitoring Committee (JMMC) to be held on Saturday, before…

Faltering Oil Demand Is Wreaking Havoc On The Tanker Industry

Nov 23, 2020 at 11:55 | Irina Slav

Tanker owners had a blast in the spring: nations around the world went into lockdown, oil demand slumped, and hundreds of millions of barrels of excessive supply had…

Why The Energy Transition Will Be Fantastic For Small Oil Companies

Nov 19, 2020 at 12:12 | Felicity Bradstock

Small, independent oil producers are seeing the potential for growth over the next decade as major energy companies look to invest in renewables. As big companies are being…

Hurricanes Led To Steepest Fall In Gulf Of Mexico Oil Production Since 2008

Nov 18, 2020 at 10:31 | Tsvetana Paraskova

Crude oil production in the U.S. Gulf of Mexico dropped in August by the largest amount compared to the previous month since September 2008, due to shut-ins because of Hurricanes…

Argentina’s Huge Vaca Muerta Shale Could Become A Stranded Asset

Nov 17, 2020 at 14:58 | Matthew Smith

Sharply weaker oil prices, growing threats to oil demand and the imminent arrival of peak oil demand could unleash a wave of stranded oil assets in South America.…

Something Highly Unusual Just Happened To Chinese Crude Stockpiles

Nov 17, 2020 at 11:06 | Tsvetana Paraskova

China’s refiners likely drew 200,000 barrels per day (bpd) out of storage in October as they processed record daily volumes of crude while oil imports slowed. The estimate is a…

A Major Oil Rally Could Be On The Horizon

Nov 16, 2020 at 17:12 | Alex Kimani

This year has been a true rollercoaster ride for the U.S. stock market, but it is increasingly looking to end on a high note.  The S&P…

Why The Oil Industry Is Set To Thrive For Decades To Come

Nov 13, 2020 at 16:59 | Felicity Bradstock

Modern innovation is helping the oil industry to keep up with the competition by cutting costs, addressing safety concerns, and incorporating better data…

China Is Rapidly Expanding Its Oil Resources In Africa

Nov 13, 2020 at 16:55 | Haley Zaremba

China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics…

Iraq's Latest Attempt To Corner Asian Oil Markets

Nov 13, 2020 at 11:11 | Viktor Katona

Every new crisis is a formidable opportunity to try new things, oftentimes merely to have another go with methods that have failed in the past but should work better now.…

Why A COVID Vaccine Won’t Invigorate The Oil Market

Nov 12, 2020 at 16:49 | Julianne Geiger

For those who have been transfixed on oil demand forecasts over the last eight months, the recent news that Pfizer’s Covid-19 vaccine is 92% successful likely came with a renewed…

Can Asia Continue Its Crude Oil Buying Spree?

Nov 12, 2020 at 16:03 | Viktor Katona

With Europe and North America falling ever deeper into the quagmire of second-wave coronavirus lockdowns and curfews, caution has become the universal buzzword. In Asia, however, the anticipation of worse…

Will Venezuela’s Economic Crisis Remove Maduro From Power?

Nov 12, 2020 at 14:21 | Matthew Smith

In desperation, Maduro’s autocratic regime has turned to Iran, another pariah state, for assistance. The collapse of Venezuela’s once-mighty oil industry has not only caused the Latin American…

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