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Chinese Oil Imports Soar To Record High

Chinese Oil Imports Soar To Record High

China’s crude oil imports reached…

Energy / Crude Oil

How Much Crude Oil Has The World Really Consumed?

How Much Crude Oil Has The World Really Consumed?

Aug 20, 2019 at 16:50 | Julianne Geiger

The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total…

Oil & Gas Industry Leads Forbes Profit Growth List In 2019

Oil & Gas Industry Leads Forbes Profit Growth List In 2019

Aug 20, 2019 at 09:32 | Tsvetana Paraskova

The oil and gas sector on the Forbes 2019 list of the world’s biggest public companies saw the largest profit growth among the top 10 sectors on the list, data…

Tanker Turmoil And Drone Attacks Barely Move Oil

Tanker Turmoil And Drone Attacks Barely Move Oil

Aug 19, 2019 at 16:23 | Nick Cunningham

Gibraltar released the seized Iranian tanker that had been held up for several weeks, a move that could de-escalate tensions between Iran and the West. The tanker set sail for…

Saudi Arabia’s Newest Strategy To Send Oil Prices Higher

Saudi Arabia’s Newest Strategy To Send Oil Prices Higher

Aug 16, 2019 at 15:18 | Tsvetana Paraskova

The world’s top crude oil exporter, Saudi Arabia, has been cutting for nearly two years its production and shipments as per OPEC’s deal, in which, being the cartel’s largest oil…

OPEC Oil Production Continues To Slide As Saudis Cut Deeper

OPEC Oil Production Continues To Slide As Saudis Cut Deeper

Aug 16, 2019 at 09:14 | Tsvetana Paraskova

OPEC’s crude oil production fell by another 246,000 bpd in July compared to June, as Saudi Arabia deepened its cuts, as U.S. sanctions further trimmed output in Iran and Venezuela,…

OPEC Needs Another 1 Million Bpd Cut To Boost Oil Prices

OPEC Needs Another 1 Million Bpd Cut To Boost Oil Prices

Aug 15, 2019 at 12:30 | Tsvetana Paraskova

In the current gloomy market sentiment, OPEC would need to deepen the production cuts by 1 million barrels per day (bpd) if the cartel wants to move up the price…

Will We See An Oil Supply Glut In 2020?

Will We See An Oil Supply Glut In 2020?

Aug 14, 2019 at 17:04 | Nick Cunningham

Oil prices seem to be in big trouble, with a supply glut set to hit the market in 2020 and a potential economic recession looming. One of…

Saudi Arabia And Russia Unlikely To Agree On New Oil Cuts

Saudi Arabia And Russia Unlikely To Agree On New Oil Cuts

Aug 14, 2019 at 13:11 | Vanand Meliksetian

OPEC is dead, long live OPEC+. Arguably the collaboration between the world's two largest exporters of oil, Russia and Saudi Arabia, is a significant development caused by and comparable to…

China Still Reluctant To Buy U.S. Crude Oil

China Still Reluctant To Buy U.S. Crude Oil

Aug 14, 2019 at 11:44 | Tsvetana Paraskova

The end of the truce in the U.S.-China trade war and the highly unpredictable nature of the next moves in the trade spat have made traders in China even more…

Shale Pioneer Hamm Calls For Production Slowdown

Shale Pioneer Hamm Calls For Production Slowdown

Aug 14, 2019 at 10:31 | Irina Slav

U.S. shale producers need to slow down with production growth and focus more on capital discipline in an oversupplied market, Continental Resources’ Harold Hamm told the audience at the EnerCom…

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