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Energy / Crude Oil

The Battle for America's Energy Future: Oil, Gas, and National Security

Nov 21, 2023 at 08:41 | ZeroHedge

Fifty years ago this week, legislation authorizing construction of the Trans-Alaska Pipeline passed both houses of Congress and was signed into law by President Richard Nixon.  The whole…

The Oil Market Isn’t Buying The Bullish Demand Forecasts

Nov 17, 2023 at 13:59 | Tsvetana Paraskova

This week, both OPEC and the International Energy Agency (IEA) revised their oil demand forecasts higher, citing record Chinese consumption and resilient economies.   Oil market participants, however, focused on rising…

Russia, Iran Oil Sanction Talk Returns Amid Weaker Prices

Nov 17, 2023 at 12:25 | Irina Slav

Earlier this week, the Financial Times reported Denmark was considering the start of inspections and potential blocks of Russian oil tankers carrying crude…

US Drillers See Sharpest One-Week Increase In Oil Rigs Since February

Nov 17, 2023 at 12:16 | Julianne Geiger

The total number of active drilling rigs in the United States rose by 2 this week after falling by 2 last week, according to new data that Baker Hughes published…

What Caused the Recent Drop in Oil Prices? Goldman Trader Chimes In

Nov 17, 2023 at 08:20 | ZeroHedge

Tons of questions on the weakness in Crude – Thoughts from our trading desk: believe the move is more of a "catch-up" to weaker physical markets as we…

U.S. Sanctions U.A.E. Maritime Firms for Bypassing Russian Oil Price Cap

Nov 17, 2023 at 07:53 | RFE/RL staff

The U.S. Treasury Department has imposed sanctions on three maritime companies based in the United Arab Emirates (U.A.E.) and three vessels owned by the companies…

EU Weighs Options to Clamp Down on Russia's Baltic Oil Shipments

Nov 16, 2023 at 08:22 | Tsvetana Paraskova

As the European Union is considering ways to toughen up the sanction enforcement on Russia’s oil exports, Denmark could be asked to stop and check paperwork for oil tankers carrying…

Oil Prices Reverse Despite Crude Inventory Build

Nov 15, 2023 at 09:37 | Irina Slav

Crude prices saw a small jump this morning after the Energy Information Administration reported an estimated inventory increase of 3.6 million barrels for the week to November 10.…

The U.S. Just Recorded Its Highest Oil Production Month In History

Nov 14, 2023 at 08:00 | Robert Rapier

Recently a friend sent me a YouTube video from the Climate Town channel called Who Actually Controls Gas Prices?

Colombia’s Cocaine Boom Is Fueling An Unprecedented Spike In Oil Theft

Nov 13, 2023 at 08:55 | Matthew Smith

Colombia has a severe problem, cocaine. The South American country is the world’s largest producer of the narcotic, and it continues setting record highs for the cultivation…

How Abandoned Oil Rigs Could Help Fight Climate Change

Nov 09, 2023 at 08:50 | Haley Zaremba

The world’s oceans are home to tens of thousands of abandoned offshore oil rigs. There are more than 32,000 in United States waters alone, and the…

Oil Demand In Doubt As Saudis Extend Production Cuts

Nov 08, 2023 at 17:02 | Irina Slav

Last weekend, Saudi Arabia said it would extend its voluntary production cuts of 1 million barrels daily of crude until the end of the year. At the same time, the…

U.S. Crude Oil Exports Are Soaring To Record Highs

Nov 08, 2023 at 13:02 | Tsvetana Paraskova

U.S. crude oil exports continue to reshape the global market as America is pumping record volumes of oil and shipping record volumes of it overseas while the OPEC+ group withholds…

Oil Falls Below $80 On Mixed Data From China

Nov 07, 2023 at 10:32 | Tom Kool

Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil.

Saudi Aramco Pledges Billions In Dividends Despite Profit Drop

Nov 07, 2023 at 06:55 | City A.M

Aramco will pay out almost £30bn in dividends for the third quarter, boosting 90 percent owner Saudi Arabia’s coffers Saudi Aramco (Aramco) has sustained hefty payouts…

The Problem With Refilling The Strategic Petroleum Reserve

Nov 06, 2023 at 15:23 | Alex Kimani

Last year, the Biden administration conducted the largest ever sale from the Strategic Petroleum Reserve (SPR) to the tune of 180 million barrels, in a bid to stabilize soaring…

Iran’s Proposed Embargo Could Cause Chaos In Oil Markets

Nov 06, 2023 at 08:42 | Simon Watkins

Iran’s Supreme Leader, Ali Khamenei, last week called on the Islamic members of OPEC to halt oil exports to Israel immediately. Given that Israel buys virtually none of…

Oil Industry Under Pressure As Net Zero Goals Loom

Nov 06, 2023 at 08:37 | City A.M

Energy giants BP and Shell unveiled sharp downturns in their usual earnings last week in a rocky third quarter for the sector, with the oil and gas industry…

How The U.S. Is Pumping More Oil With Fewer Rigs

Nov 03, 2023 at 09:09 | Tsvetana Paraskova

Despite the falling and flatlining rig count, U.S. crude oil production managed to hit a monthly record-high in August 2023, boosted by productivity gains and more efficient operations. …

Will Petrochemicals Continue To Drive Oil Demand?

Nov 03, 2023 at 08:48 | Felicity Bradstock

Petrochemicals have been driving oil demand in recent years but that could all change if new restrictions come into place to curb the production of plastics and other products. The…

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