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Energy / Crude Oil

U.S. Shale Production Continues To Decline

Sep 15, 2020 at 09:07 | Irina Slav

Crude oil production in the U.S. shale patch is set to decline by 68,000 bpd next month, with every play registering declines in output except the Permian, the Energy Information…

Second Wave Of COVID Could Crush Road Fuel Recovery

Sep 14, 2020 at 16:00 | Charles Kennedy

A resurgence of coronavirus cases in many parts of the world over the next few months will be the main hurdle to global demand for gasoline and diesel recovering to…

Traders Charter Supertankers Amid Signs Of New Oil Glut

Sep 11, 2020 at 13:44 | Tsvetana Paraskova

The world’s top oil traders have been chartering dozens of supertankers for potentially storing oil at sea amid signs that demand recovery has stalled.   Trafigura has chartered 12 very…

Floating Storage Begins To Fill Up As Oil Demand Wavers

Sep 10, 2020 at 16:09 | Irina Slav

Huge floating oil storage builds earlier this year became a major cause for oil price falls as the pandemic wiped out demand. Then, as OPEC+ started cutting production and countries…

Traffic Levels In Europe And Asia Near Pre-COVID Levels

Sep 10, 2020 at 13:27 | Tsvetana Paraskova

Many major cities in Europe and Asia have started to see the return of the rush-hour congestions in recent weeks, suggesting that people are using their cars more to travel…

Is This South America’s Next Oil Drilling Hotspot?

Sep 10, 2020 at 12:04 | Viktor Katona

The oil industry in South America is in sever need of positive stimuli – the Argentinian shale wonder has just survived a near-collapse of its government only to be stalled…

Surprise Crude Build Forces Oil Prices Lower

Sep 10, 2020 at 10:11 | Irina Slav

The slide in crude oil prices accelerated after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to September 4. A day…

Trump's Drilling Ban Bombshell Rocks Oil Industry

Sep 08, 2020 at 16:44 | Julianne Geiger

U.S. President Donald Trump shocked the oil industry today with a surprise announcement that he would extend the existing moratorium on oil drilling on parts of Florida’s, South Carolina’s, and…

Global Oil Demand To Return To Pre-Crisis Levels In Three Years

Sep 08, 2020 at 10:02 | Tsvetana Paraskova

It will take three years for global oil demand to rebound to pre-pandemic levels, as jet fuel consumption continues to trend much lower than last year’s levels, according to Bank…

Big Oil Sees Major Potential In Suriname

Sep 07, 2020 at 17:31 | Matthew Smith

Suriname is one of Latin America’s poorest countries. Up until July 2020, the former Dutch colony was mired in a political crisis that emerged from the hotly contested…

The Complete Breakdown Of Russian Output Cuts

Sep 07, 2020 at 12:06 | Kirill Rodionov

The OPEC+ deal, concluded in April amid falling global demand, may lead to a double-digit decline in Russian crude oil production for the first time in more…

IEA: Oil Demand Recovery Has Stalled

Sep 07, 2020 at 10:03 | Tsvetana Paraskova

The International Energy Agency (IEA) joined the chorus of analysts saying that the pace of global oil demand recovery has stalled in recent weeks on the back of weak refining…

Saudi Arabia To Cut Oil Prices As Demand Fears Grow

Sep 07, 2020 at 09:05 | Irina Slav

Saudi Arabia has cut its official selling prices for crude oil in the latest sign that demand recovery is stumbling, Bloomberg reports, adding that this is the first time…

U.S, Shale Recovery Leans On Huge Inventory Of DUCs

Sep 04, 2020 at 17:06 | Rystad Energy

The recovery of fracking operations in the US is happening largely thanks to an unusually high inventory of drilled but uncompleted wells (DUCs), which is strong enough to…

Big Oil’s Risky Plastic Bet Could Lead To $400 Billion In Stranded Assets

Sep 04, 2020 at 08:58 | Irina Slav

Oil companies are risking some $400 billion in stranded assets with their focus on petrochemicals production growth that relies on strong growth in demand for plastics, Carbon Tracker has said…

30 Years Of Drilling Data Points To A Rebound In U.S. Oil Production

Sep 02, 2020 at 16:36 | Tom Kool

While speculation continues about whether drilling activity in the U.S. oil patch has hit rock bottom yet, some analysts believe that the industry is already on the path…

Why No One Is Buying Up Shale Assets

Sep 02, 2020 at 16:18 | Irina Slav

Since the start of the year, 57 oil production and oilfield services companies have filed for Chapter 11 bankruptcy protection. Many more bankruptcies are on the way, all…

Saudi Arabia’s Oil Exports To The U.S. Slump To Lowest Level In Decades

Sep 02, 2020 at 13:35 | Tsvetana Paraskova

The world’s top oil exporter, Saudi Arabia, continues to try to tighten the world’s most transparently reported oil market by slashing crude oil shipments to the United States to the…

Oil Price Rally Stalls As U.S. Fuel Demand Falters

Sep 02, 2020 at 11:46 | Tsvetana Paraskova

Oil prices rallied after touching multi-decade lows in April, but they have been stuck in a narrow trade band for two months now as the pent-up U.S. demand…

Russia Wants OPEC+ To React To Oil Demand Recovery

Sep 02, 2020 at 10:01 | Tsvetana Paraskova

Russia will propose to OPEC+ to react to the recovery in global oil demand, which has now reached 90 percent of the levels seen before the pandemic, Russia's Energy Minister…

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