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Has The Oil Market Learned To Live With Covid?

Has The Oil Market Learned To Live With Covid?

Crude demand has stabilized somewhat…

Energy / Crude Oil

Has The Oil Market Learned To Live With Covid?

Aug 04, 2021 at 12:22 | Felicity Bradstock

After a few uncertain months, as OPEC oil cuts continued and Covid restrictions came back into place, oil demand for 2021 finally seems stable, with price and demand…

Surprise Crude Inventory Build Forces Oil Prices Lower

Aug 04, 2021 at 09:40 | Irina Slav

Crude oil prices moved lower today after the Energy Information Administration reported an inventory build of 3.6 million barrels for the week to July 30. This compared with analyst…

Merger Mania Paves The Way For A New Era In U.S. Shale

Aug 03, 2021 at 10:58 | Irina Slav

Mergers and acquisitions are how an industry normally handles tough times. Asset prices drop, some companies can no longer survive on their own and become targets for those…

Shale Giants Hit Hard By Poor Hedging Decisions

Aug 02, 2021 at 16:17 | David Messler

The lack of growth in shale production, currently inching higher but primarily from DUC- Drilled but Uncompleted wells, has been largely attributed to capital discipline. Shale companies have…

The U.S. Retains Its Crown As World’s Top Oil Producer

Aug 02, 2021 at 12:57 | Robert Rapier

Last month BP released its Statistical Review of World Energy 2021. The Review provides a comprehensive picture of supply and demand for major…

New Mexico Breaks Oil Production Record

Aug 02, 2021 at 09:07 | Irina Slav

New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports, citing government…

Oil Market Still Far From Being Back To ‘Normal’

Jul 29, 2021 at 13:53 | Irina Slav

Worry about oil demand sparked by the resurgence of Covid-19 in some parts of the world and a fund selloff in oil futures has reversed the recent price rally. OPEC+…

Is America’s Oil Industry Too Big To Fail?

Jul 29, 2021 at 11:00 | Irina Slav

The Biden administration is making strides in reducing the United States’ dependence on fossil fuels for its energy needs. The federal government’s post-pandemic plan involves hundreds of billions…

Total, Equinor To Quit Venezuela Venture

Jul 29, 2021 at 10:16 | Irina Slav

French TotalEnergies and Norwegian Equinor will exit their oil joint venture with PDVSA, Bloomberg has reported, citing unnamed sources familiar with the matter. TotalEnergies held a 30-percent stake in…

Oil Tops $75 On Shrinking U.S. Crude Inventories

Jul 29, 2021 at 09:33 | Julianne Geiger

Brent crude futures topped $75 on Thursday morning as U.S. crude oil inventories fell to 7 percent below the five-year average, according to EIA data. The September

Why Norway Won’t Give Up On Oil & Gas

Jul 28, 2021 at 12:43 | Tsvetana Paraskova

Norway doesn’t have any second thoughts about oil exploration and investment in light of the International Energy Agency’s (IEA) report suggesting that no new fossil fuel exploration would…

Shrinking Global Populations Poses An Existential Threat To Oil

Jul 28, 2021 at 11:14 | Alex Kimani

About a week ago, Saudi Energy Minister Prince Abdulaziz bin Salman made waves in the oil community after telling Bloomberg News that Saudi…

Exxon Makes Another Major Oil Discovery Offshore Guyana

Jul 28, 2021 at 10:38 | Tsvetana Paraskova

ExxonMobil and its partner Hess Corporation have made another significant crude oil discovery offshore Guyana, the U.S. supermajor said on Wednesday. The Whiptail discovery in the Stabroek Block adds…

Here’s Why Analysts Expect Record-High Earnings For ExxonMobil

Jul 28, 2021 at 10:26 | ZeroHedge

Surging prices for plastics are likely to help Exxon's petrochemicals division post record-high earnings this week when the company reports its earnings. Items like flooring, roofing…

The Most Important Oil Project Of The Year Is Set To Go Live

Jul 28, 2021 at 10:21 | Simon Watkins

Iran’s Jask oil terminal is now fully set to start loading vast quantities of crude to any major buyer in the world via the Gulf of Oman, with…

Oil Prices Boosted By Falling Crude Inventories

Jul 28, 2021 at 09:42 | Irina Slav

Crude oil prices rose today after the Energy Information Administration reported an inventory draw of 4.1 million barrels for the week to July 23. This compared with a build…

The Best Risk-Reward Plays In Oil

Jul 27, 2021 at 14:13 | Alex Kimani

Oil prices have been ticking upwards after OPEC+ reached an agreement on Sunday that will see the group start adding 400,000 bpd production each month from August. Goldman…

Refiners Face Huge Long-Term Challenges

Jul 27, 2021 at 14:07 | Tsvetana Paraskova

The global refining industry has not recovered yet from the impact of the pandemic, but it is already facing longer-term challenges with the energy transition. Over…

Venezuela Plans To Revive Its Oil Industry Despite U.S. Sanctions

Jul 27, 2021 at 14:00 | Felicity Bradstock

Venezuela is ignoring U.S. sanctions with its plan to boost production to 1.5 million bpd by the end of the year, around three times the current output.

India May Join China In Bid To Lower Oil Prices

Jul 27, 2021 at 13:03 | Tsvetana Paraskova

The world’s third-largest crude oil importer, India, could join China in tapping into its strategic petroleum reserve in a bid to sell lower-priced crude to its refiners amid rallying international…

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