• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Could Someone Give Me Insights on the Future of Renewable Energy?
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 5 days e-truck insanity
  • 3 days An interesting statistic about bitumens?
  • 3 hours They pay YOU to TAKE Natural Gas
  • 8 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
Oil Moves Higher on Inventory Draw

Oil Moves Higher on Inventory Draw

Crude oil prices ticked higher…

Energy / Crude Oil

Chinese-Venezuelan Joint Venture Doubles Oil Production

Dec 14, 2018 at 08:43 | Irina Slav

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 U.S. Oil Industry’s Dirty Little Secret

Dec 13, 2018 at 16:14 | Nick Cunningham

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…

IEA: OPEC+ Has Put “A Floor Under Prices”

Dec 13, 2018 at 15:51 | Nick Cunningham

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…

No, The U.S. Is Not A Net Exporter Of Crude Oil

Dec 13, 2018 at 11:32 | Robert Rapier

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…

Why The OPEC+ Deal Won’t Cut It

Dec 12, 2018 at 15:00 | Nick Cunningham

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 Bets Big On Supergiant Oil Field

Dec 12, 2018 at 12:21 | Tsvetana Paraskova

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 Sees Demand For Its Crude Oil Lower In 2019

Dec 12, 2018 at 12:12 | Tsvetana Paraskova

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…

China Pushes Global Oil Trading To All-time High In 2018

Dec 12, 2018 at 11:52 | Tsvetana Paraskova

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 Came Up Short – Here’s What They Should Do

Dec 12, 2018 at 09:47 | Rystad Energy

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,…

Oil Prices Steady After EIA Confirms Much Smaller Draw

Dec 12, 2018 at 09:40 | Irina Slav

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

Canadian Crude Rises 70% On Unprecedented Output Cuts

Dec 11, 2018 at 09:04 | Irina Slav

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

Analysts: Output Cuts To Balance Oil Markets In 2019

Dec 10, 2018 at 17:08 | Nick Cunningham

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+ Deal To Be Forged In March

Dec 10, 2018 at 16:35 | Julianne Geiger

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…

The Dangers Of China’s Growing Oil Demand

Dec 10, 2018 at 11:47 | Tim Daiss

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 To Cut Oil Exports By 1 Million Bpd Next Month

Dec 10, 2018 at 08:34 | Irina Slav

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…

OPEC+ Succeeds, What’s Next For Oil?

Dec 07, 2018 at 16:49 | Nick Cunningham

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…

The Real Implications Of The New Permian Estimates

Dec 07, 2018 at 16:37 | Haley Zaremba

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…

Is The OPEC Deal The Start Of A New Rally In Oil?

Dec 07, 2018 at 16:35 | Jim Hyerczyk

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…

Permian Oil Reserves May Be Twice As Big As We Thought

Dec 07, 2018 at 13:36 | Irina Slav

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…

Oil Prices Hold Steady As U.S., Canadian Oil Rig Count Take Steep Dive

Dec 07, 2018 at 12:20 | Julianne Geiger

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…

Oilprice - The No. 1 Source for Oil & Energy News