Crude oil prices ticked higher…
The Financial Times, citing unnamed…
Saudi Arabia is set to keep its crude oil exports in August at the levels from July, although the OPEC+ group is expected to…
Just two days after it lifted the force majeure on all oil exports, Libya’s National Oil Corporation has declared force majeure again, citing a renewed blockade on its oil export terminals and…
The Iran-aligned Houthi rebels in Yemen said on Monday that they had hit a large oil facility in Saudi Arabia’s southern city of Jizan…
The historic oil price crash and Covid-19 pandemic have left major producers of the commodity in a deep economic crisis. Dramatic production cuts by OPEC+ has exacerbated the…
Global oil demand has rebounded somewhat faster than previously thought, although the spread of the coronavirus in the United States and Latin America is “casting a shadow over…
After six months of port blockades and no exports, Libya’s National Oil Corporation (NOC) said on Friday that it lifted force majeure on all oil exports from Libya, potentially giving OPEC+…
The current oil crisis will severely depress investments in new oil production, setting the stage for oil prices hitting $100 or even $150 a barrel over the next five years,…
Last month, OPEC and its non-OPEC allies, known as OPEC+, agreed to extend their deep production cuts through July in an effort to rebalance oversupplied markets in the face of pandemic-hit demand.…
Houston-based Noble Energy plans to bring back by the end of July most of the oil production it had curtailed in the second quarter in response to the plunge in…
The amount of oil that Iran currently has in storage may have come off its May peak, according to industry sources, but it is still forcing the oil producer to…
Even before the coronavirus pandemic upended all forecasts for global trade and energy demand, analysts had doubted that China would be able to fulfill its pledge in the…
The latest oil price collapse coupled with the considerable economic fallout from the coronavirus pandemic has battered Colombia’s fragile economy. As the strife-torn Latin American country emerged from…
Encouraged by higher oil prices, Canadian oil companies are bringing back some of the crude oil production they had curtailed, the top executives of some of the largest firms said…
Crude oil inventories in the United States swelled by 5.7 million barrels in the week to July 3, the Energy Information Administration reported, but gasoline inventories drew down. Analysts had
North Dakota’s oil regulators decided on Tuesday not to impose any oil production restrictions amid the coronavirus pandemic, The Bismarck Tribune reported. North Dakota follows Texas and Oklahoma in deciding…
When the bottom fell out of international crude oil markets earlier this year, global oil storage was at a premium. In the United States, finding sufficient crude oil…
The Bakken shale is already declining because of financial struggles and the oil market downturn, but the potential shuttering of the Dakota Access pipeline could close off the possibility of…
For decades during the Cold War, Latin America was a focal point of conflict between the two superpowers, the U.S. and Soviet Union. While the U.S. emerged victorious…
In the third major blow to oil pipelines in just two days, the U.S. Supreme Court ordered on Monday that construction of the long-delayed and once-resurrected Keystone XL project cannot begin.…
If there was anything certain to come out of the COVID-19 pandemic, it is that the oil market and its participants are struggling to guesstimate how long overall…