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Energy / Crude Oil

The Oil Deal That Could Break Up Iraq

Feb 09, 2021 at 08:38 | Simon Watkins

Since the formation of the new system of governance in Iraq in 2003 immediately after the fall of Saddam Hussein there have been a slew of problems between the Federal…

Iraq Wants Oil At $80

Feb 08, 2021 at 11:06 | Irina Slav

Iraq needs crude oil to trade at $80 a barrel to be able to plug its budget holes, according to oil minister Ihsan Abdul Jabbar Ismail. In an interview with…

Chile Could Save Argentina’s Shale Boom

Feb 05, 2021 at 17:01 | Viktor Katona

Latin America just seems to be unable to synchronize its long-mooted upswing with global energy trends. Venezuela boasts the largest reserves on earth yet just as it starts…

Canada Oil And Gas Deals Surge 468%

Feb 05, 2021 at 10:07 | Tsvetana Paraskova

The value of mergers and acquisitions (M&As) in Canada jumped in the fourth quarter of 2020, thanks to the blockbuster deal between Cenovus Energy and Husky Energy, GlobalData’s deals database…

Can Anything Help Restore Wall Street’s Confidence In U.S. Shale?

Feb 04, 2021 at 17:06 | Tsvetana Paraskova

Rallying oil prices are testing once again the U.S. shale patch’s resolve to spend within their means and prioritize profitability over production growth. U.S oil prices

Shell Sees Return To ‘Normal’ Oil Demand In 2022

Feb 04, 2021 at 13:02 | OPC Markets

Royal Dutch Shell expects global oil demand to return to some sort of normalcy next year, chief executive Ben van Beurden said on Thursday as the supermajor reported another set…

China Is Fueling The Global Crude Oil Demand Recovery

Feb 03, 2021 at 13:19 | Tsvetana Paraskova

The world’s top oil importer, China, significantly boosted its crude oil imports at the start of the year compared to the end of last year, helping to support…

Oil Prices Inch Lower On EIA Crude Inventory Report

Feb 03, 2021 at 09:44 | Irina Slav

Crude oil prices fell slightly today after the Energy Information Administration reported a crude oil inventory draw of 1 million barrels for the last week of January. Fuel inventories…

OPEC+ Now Sees Weaker Oil Demand Growth For 2021

Feb 02, 2021 at 11:03 | Tsvetana Paraskova

OPEC+ expects global oil demand to rise by 5.6 million barrels per day (bpd) this year—lower estimated growth than OPEC’s assessment of 5.9-million-bpd demand increase from less than three weeks…

WTI Breaks $55 For The First Time Since January 2020

Feb 02, 2021 at 09:42 | ZeroHedge

Did the 'Reddit-Raiders' suddenly shift their crosshairs onto the energy complex? The last few days have seen WTI Crude surge over 6%...

Will U.S. Shale Finally Reward Shareholders?

Jan 29, 2021 at 15:42 | Tsvetana Paraskova

U.S. oil prices above $50 a barrel are helping the shale patch to generate more cash flow, especially after the massive capital spending cuts last year. 

The Enemy Of My Enemy: Big Oil Befriends Big Corn

Jan 29, 2021 at 09:12 | Julianne Geiger

It’s the oddest of odd couples, yet understandable. According to a Reuters exclusive, the U.S. oil industry is teaming up with the U.S. corn industry to defeat a common…

Big Oil's Exploration Cuts Exacerbate Supply Deficit

Jan 26, 2021 at 17:07 | Irina Slav

The idea that crude oil could ever again hit three-digit price levels may sound ridiculous at a time when slack demand amid a pandemic has oil stuck in…

Underinvestment In Oil And Gas May Cause Major Problems

Jan 26, 2021 at 17:04 | Tsvetana Paraskova

Following an unpredictable and shocking 2020, stability and sustainability are set to be the two major themes in the oil and gas industry this year. Companies in the…

Game-changing Iranian Pipeline Set To Launch In March

Jan 26, 2021 at 11:50 | Simon Watkins

The geopolitically game-changing Goreh-Jask pipeline project saw a major advance last week with the commencement last week of offshore pipe-laying operations. The implementation of this operation markets the first stage…

An Oil Boom Hidden Within One Of America’s Biggest Cities

Jan 25, 2021 at 15:04 | Felicity Bradstock

When you think of giant oil fields you probably conjure up an image of vast areas of land or sea suitable for digging. However, Los Angeles demonstrates that…

U.S. Shale Industry Accelerates As Oil Prices Rise

Jan 25, 2021 at 13:25 | Rystad Energy

The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows.…

Oil Major BP Significantly Downsizes Oil Exploration Division

Jan 25, 2021 at 10:01 | Tsvetana Paraskova

As part of its ambition to reduce oil and gas production and raise investments in clean energy, BP has been cutting staffing levels at its oil and gas exploration division…

Iraq Slashes Oil Output To Compensate For Overproduction

Jan 25, 2021 at 09:05 | Irina Slav

Iraq will pump less oil this month and next to make up for excess production last year, the deputy chief of SOMO, the oil marketing company of Baghdad. For both…

Iran Begins Boosting Oil Production

Jan 22, 2021 at 09:51 | Irina Slav

Iran has started ramping up its crude oil production eyeing a return to pre-sanction levels in a month or two, Deputy Oil Minister Amir Hossein Zamaninia told media, as

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