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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…

China’s Crude Oil Imports Are Slowing Down

China’s Crude Oil Imports Are Slowing Down

China’s imports of crude oil…

Energy / Crude Oil

Biden Fracking Ban Could Cripple New Mexico’s Oil Industry

Sep 25, 2020 at 09:57 | Tsvetana Paraskova

Oil workers in New Mexico fear they will lose their jobs and oil companies are rushing to secure drilling permits on federal lands…

Is Iraq Turning Its Back On The OPEC Deal?

Sep 25, 2020 at 09:06 | Michael Kern

Iraq appears to be offering higher than the usual amount of spot cargoes on the market for October, oil trade sources in Asia and Europe told

OPEC In Trouble As Oil Outlook Worsens

Sep 24, 2020 at 17:12 | Irina Slav

Just when they thought they had rebalanced the oil market, OPEC members were served an unpleasant surprise from exempted fellow Libya. The country’s warring factions reached a ceasefire,…

How The Oil Crash Solved The Permian Pipeline Problem

Sep 24, 2020 at 16:27 | Tsvetana Paraskova

While Permian oil and gas production was soaring in 2018, U.S. midstream operators were planning and building pipeline takeaway capacity, expecting that the largest U.S. shale play would increase output…

ConocoPhilips: Oil Demand Will Return And Grow

Sep 24, 2020 at 15:54 | Julianne Geiger

ConocoPhillips (NYSE: COP) is the latest to issue forward-looking statements regarding the global oil demand forecast, stating that global oil demand would indeed return to 100 million barrels per day—and…

Will New Zealand Close Its Last Oil Refinery?

Sep 24, 2020 at 14:15 | Viktor Katona

The 2nd wave of COVID-19/20 becoming an irreversible part of our reality, the global downstream sector has started to assess the damage done so far and the potential detriment that…

Maintaining Oil Production Is The Top Priority For U.S. Drillers

Sep 24, 2020 at 09:47 | Irina Slav

Maintaining oil production will be the top priority for U.S. oil drillers for the next six months, according to the latest installment of the Dallas Fed quarterly energy survey.…

Africa Is The Undeniable Final Frontier For Oil

Sep 23, 2020 at 17:03 | Irina Slav

The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers, idled wells, Big Oil majors put up assets for sale. But the world continues to need…

Oil Prices Rise After EIA Reports Crude Inventory Draw

Sep 23, 2020 at 09:44 | Irina Slav

Crude oil prices reversed their decline today after the Energy Information Administration reported an oil inventory draw of 1.6 million barrels for the week to September 18. This compares…

Gazprom Neft Sees Full Oil Demand Recovery By The End Of 2021

Sep 23, 2020 at 09:08 | Tsvetana Paraskova

Russia’s oil producer Gazprom Neft believes that global oil demand will return to its pre-pandemic levels in the second half of 2021, chief executive Alexander Dyukov said at an…

China’s Oil Buying Spree Is Coming To An End

Sep 22, 2020 at 11:06 | Tsvetana Paraskova

In a fresh sign that China is slowing down its crude oil buying spree, Beijing appears to have reduced stockpiling for a second consecutive month in August, suggesting that China's…

Libya’s Oil Production Set To Rise To 260,000 Bpd Next Week

Sep 22, 2020 at 10:00 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) sees oil production rising to around 260,000 barrels per day (bpd) next week, up from some 100,000 bpd before the blockade of its oil ports…

The World's Most Expensive Crudes Sell At Record-Breaking Premiums

Sep 21, 2020 at 17:38 | Viktor Katona

Despite being only 9 months in, this year has provided us with a rollercoaster of developments on the oil market and upended the market’s usual understanding of where crude differentials…

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…

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