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Energy / Crude Oil

Angola Looks To Replicate Brazil’s Offshore Oil Boom

Jan 19, 2021 at 15:02 | Matthew Smith

The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an…

UAE’s Oil Giant Looks To Partner With U.S. Shale Companies

Jan 19, 2021 at 12:10 | Charles Kennedy

The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE),

IEA Slashes Oil Demand Outlook For 2021

Jan 19, 2021 at 09:12 | Irina Slav

The International Energy Agency cut its crude oil demand recovery outlook for this year by 300,000 bpd to 5.5 million bpd in its latest Oil Market Report, out today.…

Saudi Output Cut Boosts Demand For Russia’s Urals Crude

Jan 18, 2021 at 12:43 | Charles Kennedy

Russia’s flagship crude grade, Urals, has seen higher demand from European refiners, with prices rising accordingly, since Saudi Arabia announced a surprise additional production cut at the start of this…

Rosneft Starts Work On Mega Arctic Oil Project

Jan 18, 2021 at 12:07 | Vanand Meliksetian

Russia is a country of superlatives. Its energy sector is one of the most important in the world where the country shares the number one position interchangeably with the U.S.…

U.S. Shale Could Be The Biggest Winner Of The Latest OPEC Cuts

Jan 14, 2021 at 16:59 | Julianne Geiger

OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war…

OPEC Sees Oil Demand Rise To 95.9 Million Bpd In 2021

Jan 14, 2021 at 11:59 | Tsvetana Paraskova

Global oil demand is set to rise by 5.9 million barrels per day (bpd) in 2021 from an estimated average demand of 90 million bpd in 2020, OPEC said on…

The Pandemic Could Lead To A Major Oil Supply Crunch

Jan 13, 2021 at 17:07 | Tsvetana Paraskova

It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few…

World’s Top Oil Trader: Airline Travel Won’t Recover Until Late 2021

Jan 13, 2021 at 11:42 | Tsvetana Paraskova

Airline travel will continue to suffer in the first half this year and will only recover, and jet fuel consumption with it, in the back half of 2021, when mass…

Oil Rises On Crude Draw Despite Product Builds

Jan 13, 2021 at 09:43 | Irina Slav

Crude oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 3.2 million barrels for the week to January 8. This compared…

Why A Fracking Ban Won’t Kill U.S. Shale

Jan 12, 2021 at 16:25 | David Messler

One of the things that had the oil industry worried about a Biden administration was his opposition to fracking, and his promise to ban it…

U.S. Oil Drillers To Face More Pain Despite Higher Prices

Jan 12, 2021 at 10:02 | Irina Slav

WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a…

U.S. Sanctions Halve Iran’s Oil Revenues

Jan 11, 2021 at 13:09 | Tsvetana Paraskova

Iran’s oil revenues have halved since the U.S. imposed sanctions on the Islamic Republic in 2018, Turkish news agency Anadolu reported, citing an Instagram post of the governor of…

India Oil Demand Falls For First Time In 20 Years Due To COVID

Jan 11, 2021 at 09:05 | Charles Kennedy

India's crude oil demand last year fell for the first time in more than 20 years because of the Covid-19 pandemic, Bloomberg has reported, noting that Asia's second-biggest oil…

How U.S. Shale Upended Global Crude Flows

Jan 08, 2021 at 18:23 | Tsvetana Paraskova

The U.S. removed the ban on American crude oil exports to countries other than Canada in 2015, unleashing a new force on the global oil market to be…

Exxon’s Mega Oil Finds In Guyana Are Just The Beginning

Jan 08, 2021 at 17:42 | Matthew Smith

Like many global oil majors ExxonMobil is under considerable pressure because of the significant fallout from the COVID-19 pandemic, sharply weaker oil prices and the threat of peak…

Will Oil Demand Recover In 2021?

Jan 08, 2021 at 17:32 | Osama Rizvi

Oil prices are rallying aggressively on the back of Saudi Arabia’s surprise cut and optimism over the rollout of vaccines across the world. News of

Asian Buyers Rush To Secure North Sea Oil After Saudi Surprise Cut

Jan 08, 2021 at 13:10 | Tsvetana Paraskova

Saudi Arabia’s surprise announcement that it would cut 1 million barrels per day (bpd) beyond its share of OPEC+ cuts in February and March has refiners in Asia scrambling to…

The Real Crisis For Oil Is Yet To Come

Jan 07, 2021 at 12:25 | Felicity Bradstock

Italian energy major, Eni, described 2020 as a “year of war”, regarding the energy crisis experienced in the face of a global pandemic. But it may be too…

Ecuador Scrambles To Clean Up Its Oil Industry

Jan 06, 2021 at 12:27 | Matthew Smith

The last year was difficult for Ecuador’s beaten-down hydrocarbon sector. Aside from the severe fallout from the COVID-19 pandemic and sharply weaker oil prices, the industry was rocked…

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