Africa’s biggest oil producer, Nigeria,…
U.S. shale has provided that…
Contrary to its official mission to stabilize the oil market, OPEC’s strategy is doing the contrary—the oil production cuts are destabilizing the oil market, Emirates NBD’s Commodity Analyst Edward…
A day after the American Petroleum Institute once again surprised traders by reporting an estimated build in U.S. crude oil inventories, the Energy Information Administration released its own…
As tens of thousands oil and gas professionals gather in Aberdeen for the biannual SPE Offshore Europe conference & exhibition, the UK offshore scene is poised for a timely comeback.…
Saudi Arabia will split its Energy, Industry, and Mining Ministry, with the current minister, Khalid al-Falih, remaining at the helm of energy policies. Industry and mining will be the prerogative…
OPEC’s production increased in August thanks to Iraq and Nigeria a Reuters survey found on Friday. OPEC’s August production has been estimated at 29.61 million barrels per day, which…
Mexico may do a U-turn, and call on the private sector once again to boost oil and gas production. Mexican President Andrés Manuel López Obrador has tried to put the…
Oil traders continue to look beyond the escalating U.S.-China trade war, bidding up oil prices as they watch tightening inventories. Crude prices have gained this week on the back of…
Amid a summer lull and heightened uncertainty about global economic and geopolitical events, money managers remain conflicted about where oil prices will be heading next. Hedge funds barely changed their…
China has financed the construction of a new oil blending plant in Venezuela that will boost the country’s flagging oil production by 120,000 bpd, IHS Markit reports, citing an…
Crude oil prices continued higher today after the Energy Information Administration reported a 10-million-barrel draw in crude oil inventories. The report followed the American Petroleum Institute’s estimate of an…
The OPEC+ coalition of producers achieved in July a compliance rate of 159 percent with the oil production cuts which the partners extended last month into March 2020 in their…
China’s imposition of tariffs on U.S. crude oil signals its willingness to suffer more pain in the trade war than analysts may have expected. That’s according to a Bank of…
One of the basic assumptions or “Paradigms” that is keeping a lid on the price of oil is the belief that U.S. oil production will continue going up year-after-year. This…
The U.S. could “drown the world in oil” over the next decade, which, according to Global Witness, would “spell disaster” for the world’s attempts to address climate change.…
Alberta has announced an extension of the obligatory oil production cuts approved by the previous government on the grounds that it is uncertain when new pipeline capacity would come on…
The Energy Information Administration (EIA) estimates that the world consumed 96.92 million barrels per day in 2016, with the top 10 consumers accounting for 60 percent of the total…
The oil and gas sector on the Forbes 2019 list of the world’s biggest public companies saw the largest profit growth among the top 10 sectors on the list, data…
Gibraltar released the seized Iranian tanker that had been held up for several weeks, a move that could de-escalate tensions between Iran and the West. The tanker set sail for…
The world’s top crude oil exporter, Saudi Arabia, has been cutting for nearly two years its production and shipments as per OPEC’s deal, in which, being the cartel’s largest oil…
OPEC’s crude oil production fell by another 246,000 bpd in July compared to June, as Saudi Arabia deepened its cuts, as U.S. sanctions further trimmed output in Iran and Venezuela,…