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Standard Chartered Says Peak Oil Demand Is Not Imminent

Standard Chartered Says Peak Oil Demand Is Not Imminent

Standard Chartered has predicted global…

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

Energy / Crude Oil

OPEC Production Rises By 950,000 Bpd In August

Sep 02, 2020 at 09:00 | Irina Slav

OPEC produced more oil in August than it did in July as the cartel continued to relax its production cuts, a Reuters survey has revealed, with recovering demand also…

Kuwait Looks To Ease Dependence On Saudi Arabia With New Oil Development

Sep 01, 2020 at 14:11 | Simon Watkins

Kuwait had already slipped into an economic contraction of 1.1 per cent the fourth quarter of 2019, over the same period in the previous year, before Saudi Arabia decided to…

Oil Prices Rise As U.S. Dollar Index Drops To 2-Year Low

Sep 01, 2020 at 09:12 | Tom Kool

Oil prices jumped on Tuesday morning, paring overnight losses ahead of the API inventory data report.At 09:02 AM,

Iraq Struggles To Restart Damaged Refineries

Aug 31, 2020 at 15:36 | Viktor Katona

Still struggling to overcome the draining consequences of almost ceaseless conflict and political haggling, Iraq has nevertheless managed to overcome the worst of the 2020 oil market slump…

Robust Chinese Demand Fuels Oil Market Recovery

Aug 31, 2020 at 13:26 | Yousef Alshammari

Following last week's price rally, oil prices move higher on Monday morning, on bullish demand figures coming from China. Additionally, U.S. dollar weakness contributed to last week's price rally. Traders…

Angola Aims To Ramp Up Oil Production

Aug 28, 2020 at 13:00 | Tsvetana Paraskova

Angola, Africa’s second-largest oil producer after Nigeria, will need foreign and government investments to discover up to 57 billion barrels of crude oil by 2025, according to a…

Oil Major Equinor Stops Drilling In U.S. Shale Patch

Aug 27, 2020 at 08:27 | Irina Slav

Norway's Equinor will not drill any more wells in the U.S. shale patch this year as it adjusts to a lower-for-longer oil price environment, a spokesperson for the company said…

Can Guyana Salvage Its Much-Hyped Oil Boom?

Aug 25, 2020 at 15:45 | Matthew Smith

The deeply impoverished South American country of Guyana in recent years was heralded as the hottest new oil boom in the Americas. A series of large offshore oil…

Is Argentina’s Shale Too Expensive To Drill?

Aug 25, 2020 at 13:17 | Irina Slav

It is one of the most abundant shale plays in the world, with oil reserves of up to 16 billion barrels and gas…

The Biggest Oil Discovery Of The Year Could Happen Here

Aug 24, 2020 at 16:16 | Sam Kennedy

When it comes to finding the final frontier for big oil discoveries, you need to look beyond the Guyana-Suriname basin where everyone’s already staked their claims. And beyond the American…

Can Peru’s Oil Industry Survive This Crisis?

Aug 24, 2020 at 15:47 | Viktor Katona

Indigenous protests have taken over Peru, threatening to undermine the Latin American nation’s burgeoning upstream industry. To many it would come as a surprise that Peru has any substantial amounts…

Africa’s Largest Energy Project Faces A Major Terrorist Threat

Aug 21, 2020 at 17:03 | Alex Kimani

Back in 2010, Texas-based Anadarko Corp. (now a subsidiary of Occidental Petroleum Corp.) and Italian energy giant ENI SpA announced…

Low Prices Put The Brakes On Peru’s Oil Ambitions

Aug 20, 2020 at 13:59 | Matthew Smith

One country often ignored when considering Latin America’s regional hydrocarbon sector is the Latin American country of Peru. Over the last two decades, the Andean country has developed…

The Oil Industry’s Biggest Weakness Is Its Reliance On China

Aug 20, 2020 at 12:11 | Irina Slav

Whenever the commodity cycle reaches a trough, all eyes turn to China. Asia’s biggest powerhouse has through years of explosive growth become the top—or one of the top—importers…

Is U.S. Shale Poised For A Comeback?

Aug 20, 2020 at 12:06 | Haley Zaremba

It’s been a brutal year for shale. While the sector was already faltering, spurring countless headlines about the death of shale over the past year or so, the…

Is It Time To Buy Canadian Oil Stocks?

Aug 19, 2020 at 17:52 | David Messler

Canadian exploration and production companies have not rebounded from the sharp sell-off that took place in the oil patch after the OPEC+ fallout in March and the almost…

Is This The End Of China's Oil Buying Spree?

Aug 19, 2020 at 13:42 | Tsvetana Paraskova

China’s record-breaking crude oil imports supported oil prices through the late spring and summer when oil demand recovery in the rest of the world had just started and…

Demand For Oil Tankers Plunges As OPEC+ Restricts Exports

Aug 19, 2020 at 13:34 | Tsvetana Paraskova

Ton-mile demand, a proxy for demand for oil tankers, has slumped in the summer as OPEC’s oil production dropped to a three-decade low and exports were drastically cut as part…

Oil Prices Rebound On EIA Inventory Report

Aug 19, 2020 at 09:44 | Irina Slav

A crude oil inventory draw of 1.6 million barrels sent oil prices higher today, with the Energy Information Administration also reporting a fall in gasoline inventories and a modest…

UAE’s Oil Major ADNOC Sees ‘Robust’ Return Of Oil Demand

Aug 18, 2020 at 15:31 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC) sees a robust return of oil demand, mainly from China, ADNOC Group’s chief executive Dr. Sultan Ahmed Al Jaber told IHS Markit Vice…

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