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U.S. Drillers Pump The Brakes

U.S. Drillers Pump The Brakes

The total number of active…

Energy / Crude Oil

Will The U.S. Clamp Down On Iranian Crude Exports?

Oct 16, 2023 at 09:12 | Simon Watkins

There have been calls on U.S. President Joe Biden to clamp down on lucrative oil and gas exports from Iran - widely believed to have played key role…

Canada’s $26 Billion Investment In Trans Mountain Pipeline May Not Pay Off

Oct 13, 2023 at 09:20 | Tsvetana Paraskova

The Trans Mountain Expansion Project promised in the 2010s to help Canada’s oil sands producers get their crude to the Asian markets from the Pacific Coast. After years of delays…

All Eyes On Iran For Security Of Oil Supply

Oct 13, 2023 at 09:08 | Irina Slav

Iran has become the focus of international attention in the wake of Hamas attacks on Israel that prompted large-scale retaliation as the make-or-break actor in what increasingly looks like a…

Kuwait And Saudi Arabia Team Up For Massive Gas Field Development

Oct 13, 2023 at 08:34 | Felicity Bradstock

As other Middle Eastern states look to diversify their energy mix, Kuwait appears to be going full throttle on its oil and gas ambitions. The Kuwaiti government has announced aims…

U.S. Oil Defies Odds, Races Towards Annual Production Record

Oct 12, 2023 at 12:49 | Robert Rapier

One of my 2023 energy sector predictions was that U.S. oil production would set a new all-time high this year. After record-setting production…

Oil Moves Down On Massive Inventory Build

Oct 12, 2023 at 10:08 | Irina Slav

Crude oil prices saw a small dip on Thursday morning after the Energy Information Administration reported an inventory build of 10.2 million barrels for the week to October…

Shift In U.S. Policy On Iran Oil Could Swing Global Markets

Oct 11, 2023 at 15:52 | Alex Kimani

Back in August, we reported that Iran oil exports had hit record highs thanks in large part to the Biden administration opting to look the other way as Tehran…

Shale Consolidation Could Put A Permanent Lid On Oil Output

Oct 11, 2023 at 14:42 | Irina Slav

Back in April, the Wall Street Journal reported Exxon was interested in acquiring Pioneer Natural Resources. The company is the biggest independent producer in the Permian and…

Mega Merger And Revenue Boost: Exxon Wants To Rule The Shale Patch

Oct 10, 2023 at 13:29 | Alex Kimani

Back in April, Exxon Mobil’s (NYSE:XOM) CEO Darren Woods touted to investors the company's newly created ‘Low Carbon’ business which he claimed has the potential to outperform its legacy oil and…

Israel-Hamas War Has Divided Commodity Traders

Oct 10, 2023 at 09:09 | Irina Slav

The war between Hamas and Israel that erupted last weekend has caused confusion in the commodity investment sector, with funds rushing to divest stocks sensitive to turmoil in the Middle…

OPEC Warns Net Zero Push Endangers Global Energy Security

Oct 10, 2023 at 08:27 | City A.M

Climate action to reach net zero undermines investment in the oil sector and jeopardises global energy security, warned OPEC. General secretary Haitham al-Ghais took aim at…

Goldman Sachs: Hamas Attacks Will Have No Immediate Impact On Oil Inventories

Oct 09, 2023 at 14:15 | Alex Kimani

Investment bank Goldman Sachs says there will be no immediate major effect on near-term oil market inventories related to the terrorist attacks on Israel on Friday. Goldman Sachs has, however,…

Hamas Attack Brings Middle East War Premium Back To Oil Markets

Oct 09, 2023 at 08:47 | Tsvetana Paraskova

War premium returned to the oil market on Monday after the weekend attack by Hamas on Israel, which upended—again—the geopolitical landscape in the world’s most important oil-exporting region, the Middle…

OPEC+ Stands Firm As Global Oil Demand Teeters

Oct 06, 2023 at 18:21 | Irina Slav

Last week, OPEC+ decided to keep current oil production cuts in effect until the end of the year. The announcement was anything but surprising, and yet crude oil prices fell…

Maduro’s Sabre Rattling Reignites The Venezuela-Guyana Border Dispute

Oct 06, 2023 at 18:19 | Matthew Smith

Tensions over a long-running border dispute between Venezuela and Guyana are flaring once again. The decades-long squabble originates from Venezuela’s claim over the Essequibo, a sparely populated but resource-rich predominantly…

Biden To Slash Offshore Oil And Gas Leasing In New Plan

Oct 06, 2023 at 18:09 | Felicity Bradstock

President Biden has once again reduced oil and gas leasing after focusing on ramping up production from exciting oilfields in the last couple of years. In September, the Biden administration’s…

China’s EV Revolution Paves Way For India's Oil Dominance

Oct 06, 2023 at 18:06 | Felicity Bradstock

There is widespread speculation that India could soon overtake China in terms of its oil demand to become the biggest consumer in the world. As China’s investment in renewable energy,…

U.S. Oil Rigs Decrease for Second Week Running, Gas Rigs Rise

Oct 06, 2023 at 12:14 | Julianne Geiger

The total number of active drilling rigs in the United States fell by 4 this week, after falling 7 last week, according to new data from Baker Hughes…

World's Top Oil Executives Commit To Energy Transition

Oct 05, 2023 at 12:40 | Tsvetana Paraskova

The oil and gas industry needs to invest more in decarbonization amid an inevitable phase-down of fossil fuels underway, according to the head of one of the biggest national oil…

New Oil And Gas Discoveries Propel South Africa's Energy Renaissance

Oct 05, 2023 at 07:43 | Felicity Bradstock

South Africa has no plans to curb its oil and gas operations in favour of a green transition just yet, as the government announces big plans to boost oil and…

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