Four projects were planned offshore…
Plastics will come to account…
Countries part of the OPEC+ group are discussing the idea to implement oil production cuts for at least three months from May to July, Russian news agency TASS reported on Tuesday,…
I’m in favor of the global output cut orchestrated by President Trump but let’s recognize it for what it is: largely irrelevant. Mohammed bin Salman and…
Amidst the torrent of news on the adverse impacts of COVID-19, recent developments in Guyana stand out as something of a countercurrent. In times when the entire world…
OPEC’s strategy in the past has been to alter its oil production in order to bring about market stability. However, the rise of U.S. shale oil forced the cartel to…
Russia’s oil production dropped slightly in the first days of April compared to the average output in March, a source in the industry told Reuters on Monday, as major…
One of the biggest oil traders in the world, Mercuria Energy Group, sees U.S. shale as very resilient and refusing to shut production despite low crude prices. “In the United…
Over the past week or so, China has eased quarantine measures in Wuhan – the city in which the global coronavirus pandemic began – with the entire lockdown…
China is hurting. The entire global economy has taken a huge hit from the spread of the coronavirus, but so far none have been hit as hard as…
The future of the oil industry, it seems, all depends on who you ask. Many industry insiders and experts are crying armageddon, while others say that United States…
It was only a matter of time, really. With demand decimated by the coronavirus and Saudi Arabia on the oil warpath, the imbalance between oil supply and demand…
Over the past week, I have taken my bullishness on tankers from level 10 to 11. It started with the Saudis busting out of the cartel formerly known as OPEC+…
U.S. shale producer Whiting Petroleum Corporation, once one of the top producers in the Bakken, said on Wednesday that it had filed for bankruptcy…
Amid depressed prices and storage space running low, the Energy Information Administration reported a crude oil inventory build of 13.8 million barrels for the week to March 27. This…
The oil-bears continue their romp across the energy markets with various grades of crude reaching lows not seen in almost twenty years. There will come a point where…
Lockdowns and travel restrictions will result in an oil demand loss of 18.5 million bpd in April, with demand for the full-year 2020 expected to slump by a record 5.43…
Texas oil companies may soon cut back production, both because of a looming lack of available storage space and because wells are becoming uneconomical at $20 per barrel WTI. Many…
The outlook for U.S. shale continues to darken with WTI testing sub-$20 territory. The supply glut could grow worse as the contraction in…
Saudi Arabia is not backing down from the oil price war for market share, pledging another increase in its crude oil exports starting in May, despite a growing global glut…
Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and Ecuador among those downgraded and…
Widespread misery was evident in the Dallas Fed’s latest survey, which included responses from 161 energy firms and took place from March 11-19.…