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EIA Lowers World Oil Demand Forecast Again

EIA Lowers World Oil Demand Forecast Again

The US Energy Information Administration…

Energy / Crude Oil

Oil Plunges On Fears Of Weak Demand

Oil Plunges On Fears Of Weak Demand

Jun 12, 2019 at 17:35 | Nick Cunningham

Oil prices sank once again on Wednesday, falling on flagging oil demand and growing fears of an economic slowdown. The EIA reported another jump in crude oil inventories last…

Goldman: No One Knows What’s Going On In Oil Markets

Goldman: No One Knows What’s Going On In Oil Markets

Jun 12, 2019 at 17:09 | Irina Slav

There has always been a lot of uncertainty around oil demand and supply, and in recent years this uncertainty has become excessive. Now, this level of excess uncertainty has got…

Analysts: 2019 Oil Demand Growth Could Be Lowest In Years

Analysts: 2019 Oil Demand Growth Could Be Lowest In Years

Jun 12, 2019 at 11:37 | Tsvetana Paraskova

While OPEC and Russia are busy calibrating a possible extension to their production cuts, analysts and traders have turned their attention away from oil supply concerns and are focused again…

The $200 Billion Push In Offshore Oil & Gas

The $200 Billion Push In Offshore Oil & Gas

Jun 12, 2019 at 10:53 | Rystad Energy

As the oil and gas industry comes out of the recent downturn, E&P companies are tempted to chase the rewards of higher oil prices by accelerating the…

Small Crude Build Sends Oil Lower

Small Crude Build Sends Oil Lower

Jun 12, 2019 at 09:41 | Irina Slav

Crude oil price fell further today after the Energy Information Administration reported another build in inventories at 2.2 million barrels for the week to June 7. This compares…

This Overlooked Canadian Oil Niche Is Making Traders Billions

This Overlooked Canadian Oil Niche Is Making Traders Billions

Jun 11, 2019 at 12:00 | Haley Zaremba

Canada’s oil industry continues to face major pipeline bottlenecks as production far outpaces transport capacity, a persistent issue that has led to significantly decreased oil prices and a major loss…

BP: Petrochemicals Drive U.S. Oil Demand Boom

BP: Petrochemicals Drive U.S. Oil Demand Boom

Jun 11, 2019 at 11:05 | Tsvetana Paraskova

The United States saw its crude oil and liquids demand jump in 2018 at its fastest pace in over a decade on the back of growing petrochemical plant capacity that…

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

Jun 10, 2019 at 13:33 | Irina Slav

U.S. sanctions on Iran’s oil industry were bound to be good news for fellow OPEC producers in the Middle East even if it wouldn’t have been good manners to acknowledge…

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

Jun 10, 2019 at 09:23 | Tsvetana Paraskova

OPEC’s oil production dropped by 170,000 bpd from April to 30.09 million bpd in May—the lowest level since February 2015, as Saudi Arabia cut its oil output even deeper despite…

Saudis: OPEC Close To Extending Output Cut Deal

Saudis: OPEC Close To Extending Output Cut Deal

Jun 07, 2019 at 09:20 | Tsvetana Paraskova

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June, Khalid al-Falih, the energy minister of OPEC’s…

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