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Energy / Crude Oil

Permian Bankruptcies Could Fuel A Buying Spree For Big Oil

Apr 29, 2020 at 15:11 | Haley Zaremba

The United States shale revolution is over. Production in the Permian Basin, which spreads across West Texas and Southeast New Mexico, has been slowing for months, but the…

Russia’s Grand Plan For Arctic Oil Is Under Threat

Apr 29, 2020 at 12:51 | Vanand Meliksetian

Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the industry from the…

Fleet Of 28 Saudi Oil Tankers Could Send U.S. Oil Prices Crashing In May

Apr 29, 2020 at 11:16 | Rystad Energy

With the Covid-19 pandemic reducing global oil demand by devastating numbers, oil storages are filling quickly in the US, forcing producers to start shutting output in the country and creating…

Morgan Stanley: Oil Demand Won’t Return To ‘Normal’ Until End-2021

Apr 29, 2020 at 10:49 | Tsvetana Paraskova

Oil demand around the world will not return to the pre-virus levels of 2019 until the fourth quarter of 2021, as countries will be slowly emerging from the lockdowns and…

Gasoline Inventories See Surprise Draw As Crude Stocks Soar

Apr 29, 2020 at 09:45 | Irina Slav

A day after the American Petroleum Institute reported yet another inventory build estimate, at close to 10 million barrels, the Energy Information Administration confirmed a build, saying inventories…

Russian Oil Production Set For First Annual Drop Since 2008

Apr 29, 2020 at 09:01 | Tsvetana Paraskova

Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news agency Interfax in an interview published…

The Death Of U.S. Oil

Apr 28, 2020 at 17:30 | Arthur Berman

It’s game-over for most of the U.S. oil industry. Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That…

OPEC’s Oil Exports Jump As Production Cut Deadline Nears

Apr 28, 2020 at 09:06 | Tsvetana Paraskova

Crude oil supply from OPEC members has soared by more than 2 million bpd in April to the highest levels since December 2018, oil-flow tracking company Petro-Logistics said on Tuesday. The…

Chinese Investors Burned On WTI Oil Price Crash

Apr 27, 2020 at 16:04 | Tsvetana Paraskova

Last week’s collapse of WTI Crude futures to -$37 a barrel left a lot of individual investors burnt.   Well-known energy trader Pierre Andurand,…

Canadian Drillers May Shut-In More Than 1.3 Million Bpd In Second Quarter

Apr 27, 2020 at 14:00 | Rystad Energy

In light of recent guidance revisions and the wider collapse in drilling and completion activity in Western Canada, Rystad Energy now expects total 2020 Canadian upstream spending to fall below…

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