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Energy / Crude Oil

Offshore Sector Reeling After Historic 300% Oil Price Crash

Apr 20, 2020 at 13:58 | Tsvetana Paraskova

The offshore drilling market is set to be one of the worst-hit in the oil price crash and demand collapse, as companies are reassessing drilling programs and canceling or halting…

Flood Of Saudi Oil To Hit U.S. Shores As Prices Hit $10

Apr 20, 2020 at 11:00 | Tsvetana Paraskova

The highest number of Saudi oil shipments in years are making their way to the United States this month, threatening to make an already dire situation in the U.S. oil…

The Surprising Winners And Losers Of The Global Oil Glut

Apr 17, 2020 at 18:17 | Tsvetana Paraskova

Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel…

OPEC’s No.3 Scrambles For Lifeline As Oil Income Tanks

Apr 17, 2020 at 18:13 | Simon Watkins

Even before the current spate of Saudi-led lunacy in the shape of the oil price war with the two biggest oil producers in the world loomed into view,…

Do U.S. Shale Drillers Deserve To Exist In Free Markets?

Apr 17, 2020 at 17:46 | Mitchell McGeorge

In the fallout of the current crisis, one more statistic can be added to the toll of Covid-19 – US Energy Independence. The Shale Revolution was responsible for…

Saudi Arabia’s Oil Stock Gambit

Apr 17, 2020 at 16:24 | Irina Slav

It's the basic successful investment rule: buy when everyone is selling and sell when everyone is buying. The rule has been proved right by many a legendary figure…

Saudi Arabia Slashes Asian Oil Exports By 2 Million Bpd

Apr 17, 2020 at 11:20 | Tsvetana Paraskova

Saudi Arabia’s oil giant Aramco will be sending 4 million barrels per day (bpd) of its crude to Asia in May, down from the full contractual volumes of 6 million…

Chinese Bargain Hunters Are Stocking Up On Ultra Cheap Crude Oil

Apr 17, 2020 at 10:17 | Tsvetana Paraskova

Emerging from the coronavirus lockdown, China’s oil refiners are buying ultra-cheap spot cargoes from Alaska, Canada, and Brazil, taking advantage of the deep discounts at which many crude grades are…

Russia And Saudi Arabia Consider Even Deeper Oil Output Cuts

Apr 17, 2020 at 09:07 | Irina Slav

Russia and Saudi Arabia may be ready to enact deeper oil production cuts to stabilize prices, the energy ministers of the two countries said in a joint statement. The two…

Trump Could Still Slap Tariffs On Foreign Oil

Apr 16, 2020 at 09:12 | Irina Slav

Despite the unprecedented global oil production cut agreement from last week, the United States may still impose tariffs on oil imports, Bloomberg reports, citing a Washington official. “It continues to…

Coronavirus Has Wiped Out A Decade Of Oil Demand Growth

Apr 15, 2020 at 17:49 | Nick Cunningham

Just days after the largest production cut in history, WTI fell below $20 per barrel.  The oil world was hyper-focused on what OPEC+ might do over…

$20 Oil Could Crush Brazil’s Offshore Oil Boom

Apr 15, 2020 at 16:45 | Viktor Katona

Brazil has suspended its 17th licensing round which would have seen the state oil regulator ANP offering 128 offshore exploration blocks throughout the country, fearing that the plummeting oil prices…

Saudi Energy Minister: Global Oil Cuts Could Reach 20 Million Bpd

Apr 15, 2020 at 12:11 | Irina Slav

Global oil production cuts could end up rising to 20 million bpd, including forced reduction of output such as already underway in the United States, the Saudi Energy Minister, Abdulaziz…

Oil Prices Sink On Record Breaking 19.2 Million Barrel Crude Build

Apr 15, 2020 at 10:09 | Irina Slav

A day after the American Petroleum Institute estimated crude oil inventories had added more than 13 million barrels, the Energy Information Administration confirmed a build, and a much higher…

U.S. Oil Drilling Grinds To A Halt At Key Shale Hotspots

Apr 14, 2020 at 17:30 | Nick Cunningham

Oil and gas production in the United States has peaked and is already in decline.  The latest data from the EIA’s Drilling Productivity…

Will Trump Really Slap Tariffs On Saudi Oil?

Apr 14, 2020 at 16:36 | David Messler

Well, it’s done and dusted. After keeping the world on the edge of its figurative seat for several days last week, OPEC+ announced a paltry 10 mm BOPD…

China Plans To Copy Mexico’s Mega Oil Hedge

Apr 14, 2020 at 15:18 | Tom Kool

This weekend, OPEC and its partners managed to agree on a historic oil production cut to the tune of 9.7 million bpd. The initial number the cartel eyed…

The Outdated Law Threatening U.S. ‘Energy Independence’

Apr 14, 2020 at 13:13 | Alex Kimani

After months of high drama and unceasing tedium, the OPEC+ group of countries, led by Saudi Arabia and Russia, finally granted President Trump his wish and 

This Non-OPEC Producer Boosted Its Output Ahead Of Historic Deal

Apr 14, 2020 at 12:00 | Tsvetana Paraskova

Oman increased its crude oil and condensate production in March by nearly 13 percent from February, after the collapse of the OPEC+ deal early last month, according to data from the…

Saudi Arabia Claims The U.S. Was Not Their Target In The Oil War

Apr 14, 2020 at 10:05 | Tsvetana Paraskova

Saudi Arabia did not intend for U.S. oil producers to suffer, Saudi Energy Minister, Prince Abdulaziz bin Salman, said in an interview with a select group of reporters, including Energy…

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