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Texas Deepwater Oil Export Projects Stall

Texas Deepwater Oil Export Projects Stall

Four projects were planned offshore…

Energy / Crude Oil

Is Bakken Oil Production Set For An Unexpected Drop?

Jun 20, 2019 at 14:24 | Tsvetana Paraskova

North Dakota set an oil production record in January this year, and crude output in the state home to the Bakken shale play held close to that record level in…

A $1 Trillion Energy Opportunity The U.S. Can’t Afford To Miss

Jun 20, 2019 at 09:31 | Irina Slav

India is the fastest-growing energy market in the world as demand for energy on the subcontinent booms. On this, analysts are unanimous. They are also unanimous that the energy reform…

Bullish EIA Data Pushes Oil Prices Higher

Jun 19, 2019 at 09:42 | Irina Slav

After two consecutive weeks of crude oil inventory builds, this week the Energy Information Administration offered some respite for prices with a draw, of 3.1 million barrels…

Norwegian Oil Pioneer: Big Oil’s Exodus Has Started

Jun 18, 2019 at 12:22 | Tsvetana Paraskova

Smaller independent oil and gas producers will have more opportunities to develop resources on the Norwegian Continental Shelf (NCS) because in ten years’ time all oil majors except state-participated Equinor…

U.S. Oil Sanctions Trigger Recession In Iran

Jun 18, 2019 at 11:51 | Tsvetana Paraskova

Iran’s economy contracted by 4.9 percent in the 2018-2019 year ended in March, slipping further into recession as diminishing oil exports due to the U.S. sanctions are depriving the…

Canada’s Oil Patch Faces Investor Exodus

Jun 17, 2019 at 14:21 | Tsvetana Paraskova

Insufficient market access and continued uncertainty over additional pipeline capacity have finally caught up with the growth projections of Canada’s oil industry association. The Canadian Association of Petroleum Producers (CAPP)…

Oil Markets Shrug Off Gulf Of Oman Tanker Attacks

Jun 14, 2019 at 10:55 | Nick Cunningham

Tensions are soaring again the Middle East after two oil tankers were attacked in the Gulf of Oman. The U.S. released a video that purportedly shows Iranian patrol boats…

OPEC Production Falls To 5-Year Low As Demand Forecasts Sour

Jun 13, 2019 at 15:27 | Julianne Geiger

OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year…

Oil Plunges On Fears Of Weak Demand

Jun 12, 2019 at 17:35 | Nick Cunningham

Oil prices sank once again on Wednesday, falling on flagging oil demand and growing fears of an economic slowdown. The EIA reported another jump in crude oil inventories last…

Goldman: No One Knows What’s Going On In Oil Markets

Jun 12, 2019 at 17:09 | Irina Slav

There has always been a lot of uncertainty around oil demand and supply, and in recent years this uncertainty has become excessive. Now, this level of excess uncertainty has got…

Analysts: 2019 Oil Demand Growth Could Be Lowest In Years

Jun 12, 2019 at 11:37 | Tsvetana Paraskova

While OPEC and Russia are busy calibrating a possible extension to their production cuts, analysts and traders have turned their attention away from oil supply concerns and are focused again…

The $200 Billion Push In Offshore Oil & Gas

Jun 12, 2019 at 10:53 | Rystad Energy

As the oil and gas industry comes out of the recent downturn, E&P companies are tempted to chase the rewards of higher oil prices by accelerating the…

Small Crude Build Sends Oil Lower

Jun 12, 2019 at 09:41 | Irina Slav

Crude oil price fell further today after the Energy Information Administration reported another build in inventories at 2.2 million barrels for the week to June 7. This compares…

This Overlooked Canadian Oil Niche Is Making Traders Billions

Jun 11, 2019 at 12:00 | Haley Zaremba

Canada’s oil industry continues to face major pipeline bottlenecks as production far outpaces transport capacity, a persistent issue that has led to significantly decreased oil prices and a major loss…

BP: Petrochemicals Drive U.S. Oil Demand Boom

Jun 11, 2019 at 11:05 | Tsvetana Paraskova

The United States saw its crude oil and liquids demand jump in 2018 at its fastest pace in over a decade on the back of growing petrochemical plant capacity that…

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

Jun 10, 2019 at 13:33 | Irina Slav

U.S. sanctions on Iran’s oil industry were bound to be good news for fellow OPEC producers in the Middle East even if it wouldn’t have been good manners to acknowledge…

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

Jun 10, 2019 at 09:23 | Tsvetana Paraskova

OPEC’s oil production dropped by 170,000 bpd from April to 30.09 million bpd in May—the lowest level since February 2015, as Saudi Arabia cut its oil output even deeper despite…

Saudis: OPEC Close To Extending Output Cut Deal

Jun 07, 2019 at 09:20 | Tsvetana Paraskova

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June, Khalid al-Falih, the energy minister of OPEC’s…

Oil Industry Banks On Shaky Plastic Bet

Jun 06, 2019 at 17:09 | Nick Cunningham

Even as oil demand is beginning to weaken this year due to a brewing economic slowdown, the oil industry faces a longer-term threat to oil demand as bans on plastic…

U.S. Gulf Coast Oil Imports Hit 33-Year Low

Jun 06, 2019 at 16:03 | Tsvetana Paraskova

The U.S. Gulf Coast saw its crude oil imports in March at their lowest level since 1986, as rising domestic production and falling imports from OPEC including Venezuela have started…

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