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The Biggest Challenge Facing Biden’s Electric Vehicle Infrastructure Plan

The Biggest Challenge Facing Biden’s Electric Vehicle Infrastructure Plan

The Biden Administration’s ambitious electric…

$80 Oil Is Too Enticing For U.S. Drillers To Ignore

$80 Oil Is Too Enticing For U.S. Drillers To Ignore

Consistently higher oil prices have…

Energy / Crude Oil

Oil Supply Adequate For Now, But Larger Supply Crunch Looms

Oct 11, 2021 at 10:55 | Tsvetana Paraskova

Global oil supply will be enough to meet demand in the short and medium term, but the world is headed towards a supply shortage after 2026 unless the oil industry…

Iran’s Oil Minister Presents Creative Plan To Draw In New Crude Oil Investment

Oct 11, 2021 at 09:47 | Irina Slav

Iran is offering crude oil in exchange for goods or investments in its oil industry, oil minister Javad Owji told Iranian TV, as quoted by Bloomberg. The plan has…

High Natural Gas Prices Could Lead To 2 Million Bpd Extra Oil Demand

Oct 08, 2021 at 15:29 | Alex Kimani

Oil prices have vaulted to multi-year highs after OPEC and other major producers opted last week against increasing output by more than previously agreed. However, it's the natural…

Lebanon’s Unravelling Economy Could Have A Major Geopolitical Impact

Oct 08, 2021 at 15:05 | Matthew Smith

Crisis-riven Lebanon appears on the brink of collapse once again. The deeply divided Mediterranean country, which was engulfed by a sectarian civil war for 15 years…

U.S. Rig Count Climbs As Crude Prices Rally

Oct 08, 2021 at 12:11 | Julianne Geiger

The number of oil and gas rigs in the United States rose by 5 this week, according to Baker Hughes, bringing the total number of additions since the start of…

China To Coal Miners: Raise Production Now

Oct 08, 2021 at 10:56 | Charles Kennedy

Chinese authorities have ordered 72 coal mines in Inner Mongolia to boost production by almost 100 million tons amid an energy crunch that has seen factories shut down and prompted…

Saudi Arabia Eyes Oil Market Dominance As Prices Bounce Back

Oct 07, 2021 at 12:42 | Felicity Bradstock

After a difficult year during Covid, Saudi Arabia and its oil and gas industry are finally rebounding as global oil demand recovers. Oil revenue in Saudi…

Moody’s: Oil Industry Must Spend $542 Billion To Avoid Supply Shock

Oct 07, 2021 at 11:52 | Tsvetana Paraskova

Global annual upstream spending needs to increase by as much as 54 percent to $542 billion if the oil market is to avert the next supply shortage shock, Moody’s said…

Oil Prices Rebound As U.S. Walks Back Plan To Tap Strategic Petroleum Reserve

Oct 07, 2021 at 10:38 | Julianne Geiger

The U.S. Department of Energy is walking back previous comments that it was considering a release of the Strategic Petroleum Reserve and a ban on crude oil exports, Bloomberg’s Javier…

Why OPEC Didn’t Boost Production By 800,000 Bpd

Oct 07, 2021 at 09:35 | Irina Slav

Concern that demand for oil may weaken in the future was one of the reasons OPEC+ decided to stick with its original agreement to add 400,000 bpd in combined supply…

Oil Unchanged On Small Crude Inventory Build

Oct 06, 2021 at 09:41 | Irina Slav

Crude oil remained unchanged today after the Energy Information Administration reported an inventory build of 2.3 million barrels for the week to October 1. At 420.9 million barrels, U.S.…

Hedge Funds Scramble To Buy Crude Oil Futures As Market Tightens

Oct 05, 2021 at 13:35 | Irina Slav

Earlier this year, oil began to fall out of favor with traders as the focus on energy attention increasingly shifted towards renewable power and the energy transition. But…

U.S. Shale Giant Says OPEC Controls Oil Prices

Oct 05, 2021 at 11:48 | Tsvetana Paraskova

Unlike in previous years, the U.S. shale patch will not have a large say in where oil prices will be going in the coming months. Currently, control over the market’s…

Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd

Oct 05, 2021 at 10:02 | Charles Kennedy

The natural gas crunch has increased global oil demand by 500,000 bpd, the chief executive of Saudi Aramco said at this week's Energy Intelligence Forum. "There is higher demand," Nasser…

Libya’s Oil Sector Descends Into Chaos As Deputy-Minister Resigns

Oct 04, 2021 at 14:58 | Simon Watkins

The resignation of Libya’s deputy oil minister, Refaat al-Abbar, last week threatens to make the current uneasy situation in Libya’s oil sector even worse. With close ties to…

American Oil Drillers Are Facing A Sharp Rise In Costs

Oct 04, 2021 at 11:44 | Irina Slav

U.S. oil producers, especially those active in shale, have been hailed for sticking to a strict financial discipline amid the pandemic-driven crisis and for changing their focus from…

OPEC+ Meeting Ends With Minor Oil Production Hike

Oct 04, 2021 at 09:22 | Julianne Geiger

The OPEC+ meeting has ended with rather disappointing news for those that were hoping for a surprise increase in oil production. The group has agreed to keep the production plans…

OPEC+ Set To Stick To Plan To Ease Oil Production Cuts

Oct 04, 2021 at 08:28 | Tsvetana Paraskova

The OPEC+ alliance is widely expected to keep their current plans of easing the collective oil production cuts as the group gathers for its monthly meeting today. OPEC+ decided in the…

OPEC+ May Add More Oil To Markets Next Month

Oct 01, 2021 at 09:02 | Irina Slav

OPEC+ is considering a production boost by more than the 400,000 bpd monthly the extended oil cartel agreed to earlier this year, Reuters has reported, citing unnamed sources in…

OPEC Boosts Oil Production By 420,000 Bpd To Highest Since April 2020

Sep 30, 2021 at 10:45 | Tsvetana Paraskova

OPEC raised its crude oil production by 420,000 barrels per day (bpd) in September to the highest level since April last year, as the cartel continued to ease the cuts…

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