We're entering a key period…
In the oil rig basins…
Things have been happening increasingly fast in the oil industry, especially with prices. With so much volatility around, price movements are quick and often surprising. Right now, the…
China smashed its crude oil imports record in May as manufacturing activity picked up and lockdowns eased. Amid recovering demand for gasoline and diesel, China’s total demand is…
OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started…
Armed individuals entered Libya’s largest oil field, El Sharara, just a day after reports said the field had restarted production after months of idling amid the ongoing civil war. Another…
Civil war-torn Libya has resumed oil production at its biggest oilfield, hoping to put an end to the bitter infighting that has crippled its oil output since the beginning of…
The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but…
OPEC and its partners concluded their meeting on Saturday afternoon, announcing that it would extend its current production cut deal. Algeria’s Energy Minister Mohamed Arkab, OPEC’s current…
U.S. shale drillers are bringing back shut in production three months after the onset of the current downturn. But steep decline rates will increasingly take hold, dragging down…
Crushed by plunging oil prices and demand in the coronavirus pandemic, Canadian oil firms slashed budgets, dividends, and production to save their finances through one of the worst…
Crude oil demand this year will fall to around 90.6 million bpd this year, OPEC’s secretary-general Mohammed Barkindo said ahead of the next OPEC+ meeting, as cited by Trend.…
OPEC is in negotiations with its members to find the best way forward, but talks appear to have stalled over one laggard, Iraq, which has failed to…
China’s crude oil imports jumped by 13 percent from April to near record-highs of 11.11 million bpd in May, due to favorable spreads of the Shanghai-traded yuan-denominated oil futures and…
The oil price and demand crash in April resulted in Canada’s energy exports plunging by the most on record, with crude oil exports plummeting by 55.1 percent, Statistics Canada
Global oil demand has improved over the past few weeks, led by China’s demand which has rebounded to 90 percent of its pre-coronavirus levels, while tentative signs of improvement emerge…
Given the massive negative hit taken by Saudi Arabia’s economy as a result of Crown Prince Mohammed bin Salman’s oil price war, aimed at destroying the U.S. shale oil…
A day after the American Petroleum Institute surprised market yet again with a crude oil inventory draw, pushing prices up, the Energy Information Administration also reported an inventory decline,…
Shale drillers are bringing some shuttered oil production back online as the glut eases. The total amount of shut-in production in the Bakken stood at 475,000…
The coronavirus pandemic has dealt an immense blow to businesses and nations all around the planet, yet there is one specific sphere where it might actually deliver some…
Brazil’s Petrobras is one of very few oil companies with no oil storage problem, according to its chief executive. Roberto Castello Blanco said at an event yesterday that Petrobras’s oil…
Project cancellations, spending cuts, well shut-ins: the problems and dilemmas plaguing onshore oil producers have also spread to offshore. And while the effects of the Covid-19 pandemic on…