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Energy / Crude Oil

Russian Crude Could Still Be Dirty By Mid-2020

Russian Crude Could Still Be Dirty By Mid-2020

Jul 19, 2019 at 17:44 | Julianne Geiger

As Poland’s biggest refiner publicly criticized the deteriorating quality of Russian oil, a suspect in the investigation into pipeline contamination that has severely disrupted Russian supplies is seeking asylum in…

Long Speculator Exodus Sinks Crude Oil

Long Speculator Exodus Sinks Crude Oil

Jul 19, 2019 at 11:31 | Jim Hyerczyk

U.S. West Texas Intermediate crude oil futures are inching higher on Friday, but a steep sell-off earlier in the week has solidified a weekly lower close. In case you haven’t…

Russia’s Oil Output Rebounds From Three-Year-Low

Russia’s Oil Output Rebounds From Three-Year-Low

Jul 18, 2019 at 12:48 | Tsvetana Paraskova

Russia’s oil production in the past few days has recovered to the ceiling that Moscow has pledged in the OPEC+ deal, Russian Energy Minister Alexander Novak said on Thursday,…

Will The U.S Gas Glut Cap Oil Production?

Will The U.S Gas Glut Cap Oil Production?

Jul 17, 2019 at 16:46 | Nick Cunningham

A pipeline company is fighting the practice of flaring gas in Texas, threatening to slow the pace of oil production. Flaring gas has become an epidemic in Texas. Permian…

Colombia’s Push To Triple Proven Oil & Gas Reserves

Colombia’s Push To Triple Proven Oil & Gas Reserves

Jul 17, 2019 at 13:30 | Oxford Business Group

With no major onshore oil discoveries since 2009, Colombia’s oil and gas reserves have dwindled. The country has thus turned to non-conventional deposits as a means to boost production in…

Oil Halts Slide On Crude Draw

Oil Halts Slide On Crude Draw

Jul 17, 2019 at 09:40 | Irina Slav

The Energy Information Administration reported a modest oil inventory draw of 3.1 million barrels for the week to July 12, confirming and even exceeding the American Petroleum Institute’s Tuesday estimate of…

The Only OPEC Member That Could Challenge Saudi Oil Dominance

The Only OPEC Member That Could Challenge Saudi Oil Dominance

Jul 15, 2019 at 16:59 | Simon Watkins

In line with its targets for increasing crude oil production to 6.2 million barrels per day (bpd) by end-2020 and 9 million bpd by end-2023, up from the current 4.6…

Libya’s Oil Revenue Takes A Beating

Libya’s Oil Revenue Takes A Beating

Jul 15, 2019 at 14:28 | Julianne Geiger

Libya’s oil revenue took a beating in the first half of 2019, according to its central bank as reported by Reuters. In the first six months of the year,…

Signs Of Slower Permian Oil Growth Continue To Emerge

Signs Of Slower Permian Oil Growth Continue To Emerge

Jul 12, 2019 at 17:42 | Tsvetana Paraskova

While U.S. shale production is booming and the Permian continues to set new production records, the pace of growth is slowing as many companies have recently scaled back production growth…

Oil Prices Rise Amid Further Rig Count Decline

Oil Prices Rise Amid Further Rig Count Decline

Jul 12, 2019 at 12:24 | Julianne Geiger

The US oil and gas rig count fell by 5 this week, according to Baker Hughes, after losing rigs last week as well. The total number of active oil rigs…

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