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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Energy / Crude Oil

U.S. Eyes Tighter Sanctions On Iran's Oil And Gas Exports

Oct 27, 2023 at 09:10 | Cyril Widdershoven

As the oil market grapples with the current and potential effects of the Gaza war, a new significant concern has emerged. U.S. sources indicate that the Biden Administration…

National Oil Companies Aren't Ready For The Energy Transition

Oct 27, 2023 at 09:00 | Tsvetana Paraskova

Some of the world's largest national oil companies (NOCs) have improved significantly their resilience to oil price slumps in the near future thanks to huge cash flows and profits in…

Oil May Be About To Go Down On Higher Costs

Oct 26, 2023 at 17:15 | Irina Slav

Analysts have been talking about three-digit oil prices for months now, yet the benchmarks have stubbornly refused to move above $100, whatever happens. One reason for this is the economic…

Oil Price Rally Reverses Despite Tightening Market Fundamentals

Oct 26, 2023 at 13:59 | Alex Kimani

The oil price rally has failed to gain any kind of momentum three weeks after tensions in the Middle East escalated despite market fundamentals strengthening. Brent…

Why Big Oil Isn't to Blame For Rising Gas Prices

Oct 26, 2023 at 08:22 | Robert Rapier

Good energy policy starts with a good understanding of energy issues. But both major political parties have glaring blind spots when it comes to understanding the energy sector.…

Iran’s Oil Revenue Woes Deepen Amid Export Discrepancies

Oct 25, 2023 at 10:57 | RFE/RL staff

The head of Iran's Budget and Planning Organization says the government achieved only "around" 70 percent of its projected revenues for the first seven months of the current…

Oil Ticks Lower On Inventory Build

Oct 25, 2023 at 09:56 | Irina Slav

Crude oil prices inched down today after the Energy Information Administration reported an inventory increase of 1.4 million barrels for the week to October 20. This compared with…

Which Factors Influence Oil Prices Right Now?

Oct 20, 2023 at 10:34 | Editorial Dept

You don’t have to be a Nobel Prize winner in economics to know that the two basic influences on the price of oil, or any commodity for that matter, are…

Oil And Gas Still Drawing In Investors Despite Transition

Oct 20, 2023 at 08:58 | Irina Slav

Oil and gas stocks were among the top performers on the S&P 500, with four industry players taking their place in the top 10. The reason for this was…

Venezuela's Crude Production Faces Uphill Battle Despite Sanctions Relief

Oct 20, 2023 at 07:15 | Felicity Bradstock

The United States has eased its sanctions on Venezuela following an election deal. This follows four years of sanctions on its oil and gas industry, restricting the South American oil…

Will Middle East Tensions Prompt Saudi Arabia To Shift Its Oil Policy?

Oct 19, 2023 at 17:29 | Tsvetana Paraskova

At the beginning of October, Saudi Arabia affirmed it would keep its voluntary oil production cut of 1 million barrels per day (bpd) until the end of the year and…

Oil Markets Underestimating The Risk Of A Middle East Blowout

Oct 18, 2023 at 16:12 | Alex Kimani

Last week, the Israeli government ordered its state-run electricity company to halt power supply to the Gaza Strip days after Palestinian militant group Hamas launched a surprise attack on…

Oil Jumps Higher On Inventory Draws

Oct 18, 2023 at 09:37 | Irina Slav

Crude oil prices inched higher today after the U.S. Energy Information Administration reported an inventory decline of 4.5 million barrels for the week to October 13. That compares with…

The Next Phase Of The U.S. Shale Revolution

Oct 18, 2023 at 07:15 | David Messler

Mergers in the U.S. shale patch have continued through the course of 2023 as companies jockey for assets that will fill in gaps in their acreage base. Two key basins…

Traders Dumped Oil Despite Middle East Tensions

Oct 17, 2023 at 10:03 | Charles Kennedy

Institutional traders are dropping their oil positions as the outlook for the commodity—and the global economy—becomes marred in even more uncertainty. There has also probably been some profit-taking among hedge…

Oil Poised To Become U.S.’ Single Largest Export Product

Oct 16, 2023 at 09:38 | Tsvetana Paraskova

Oil is on track to be the largest export item for the United States this year for the first time in history, highlighting the growing influence of U.S. oil production…

Western Banks To Miss Out On African Oil Boom

Oct 16, 2023 at 09:21 | Irina Slav

When the Ugandan and Tanzanian governments announced the East African Crude Oil Pipeline project, it elicited very different reactions. Some cheered the news that would add Uganda to the world's…

Kenya's Ambitious Carbon Capture Plant Sparks Debate

Oct 16, 2023 at 09:20 | Felicity Bradstock

Africa is taking centre stage when it comes to the future of energy, with significant interest in the continent’s largely untapped oil and gas resources, as well as significant potential…

SOCAR And Lukoil Seal Unique Oil Deal Despite Western Sanctions

Oct 16, 2023 at 09:17 | Eurasianet

Azerbaijan's state oil company SOCAR has concluded a wide-ranging agreement with Russia's Lukoil under which the Russian oil company will lend SOCAR $1.5…

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…

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