We're entering a key period…
Crude oil prices ticked higher…
A joint venture between troubled Venezuelan state oil company PDVSA and China’s CNPC in the South American country has doubled its oil production in the past seven months, Reuters reported…
The oil industry engaged in a secret public relations campaign to undermine U.S. fuel economy standards, according to a new investigation from the New York Times. One of the…
The OPEC+ agreement succeeded in at least putting “a floor under prices,” according to a new report from the International Energy Agency. The global supply surplus is not resolved, and…
Last week Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. I have seen a…
Now nearly a week removed from the OPEC+ agreement, confidence in the efficacy of the deal is becoming shaky. Immediately after OPEC+ announced cuts of 1.2 million barrels per day…
Chevron announced last week its capital and exploratory budget for 2019, which sees the first annual increase in spending since the 2014 oil price crash. While most of the…
OPEC expects demand for its crude oil to average 31.4 million bpd in 2019, down by 100,000 bpd from last month’s forecast, which suggests that the cartel would need to…
This year’s crude oil futures trading activity is on track for a record high, as trading volumes in China’s new yuan-denominated futures contract is offsetting lower activity in the world’s…
OPEC+ will need to stay 700,000 bpd below its agreed targets of 31.8 million bpd through 2019 in order to bring a recovery in Brent prices to the $70 level,…
Crude oil prices remained steady today after the Energy Information Administration confirmed an API estimate of a crude oil inventory draw but a much smaller one than API’s
Since Alberta Premier Rachel Notley announced an oil production cut of 325,000 bpd beginning next month, the spot price for Western Canadian Select has gained over 70 percent, Bloomberg
With a few days to digest the specifics of the OPEC+ deal, most analysts deem the result a success. But that does not mean that there are no pitfalls…
OPEC and its non-OPEC partners are set to officially sign a cooperation agreement in March of next year, the UAE’s energy minister Suhail al-Mazrouei said, according to Reuters. The…
China’s oil thirst continues to grow, despite the impact that U.S. tariffs are starting to have on the world’s second largest economy. On Saturday, preliminary data from China’s General Administration…
Saudi Arabia could reduce its daily crude oil shipments abroad by as much as 1 million barrels next month, Reuters reports, quoting unnamed sources close to Riyadh. According to…
Oil prices spiked on Friday on news from Vienna. OPEC+ managed to pull off an eleventh-hour agreement, checking all the boxes after a contentious set of meetings. There were…
This week the United States Geological Survey (USGS) announced a groundbreaking oil and gas discovery in West Texas’ Permian Basin. According to the organization’s recent press release, a whopping…
U.S. West Texas Intermediate Crude Oil soared on Friday as investors breathe a sigh of relief as OPEC and its partners decided to cut 1.2 million bpd. On Thursday, Saudi…
The U.S. Geological Survey has revised the technically recoverable reserves in the Wolfcamp Basin, in the Permian shale play, to 46.3 billion barrels of crude and 281 trillion cu ft…
Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week—a loss in rigs for the second week in a row, with a 10-rig decrease…