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Large Crude Inventory Build Rocks Oil Prices

Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower…

Big Oil’s Carbon Capture Conundrum

Big Oil’s Carbon Capture Conundrum

Energy experts and environmentalists express…

Energy / Crude Oil

Rig Count Rises Amid Oil Price Recovery

Oct 19, 2018 at 12:17 | Julianne Geiger

Baker Hughes reported a 4-rig increase for oil and gas in the United States this week, bringing the total number of active oil and gas rigs to 1,067 according to…

Leaked Document: OPEC+ Struggling To Lift Oil Production

Oct 19, 2018 at 11:00 | Tsvetana Paraskova

OPEC and its Russia-led non-OPEC allies are struggling to fully deliver on the oil production increase of 1 million bpd promised in June, Reuters reported on Friday, quoting an…

The Oil Keeps Flowing: Iran Evades U.S. Sanctions

Oct 18, 2018 at 17:44 | Nick Cunningham

U.S. sanctions on Iran take effect in a little over two weeks, and the Trump administration has already had quite a bit of success in knocking Iranian supply offline. But,…

China Can’t Get Enough Of The World’s Cheapest Crude

Oct 18, 2018 at 12:54 | Irina Slav

Canada’s oil industry woes have been a topic of discussion in the media for some time now, what with the persistent delays in the Trans Mountain expansion, unyielding…

UAE Boosts Production, Introduces New Crude Blend

Oct 18, 2018 at 12:17 | Tsvetana Paraskova

The Abu Dhabi National Oil Company (ADNOC), the producer of nearly all of the oil in the UAE, began producing and exporting a new crude grade, Umm Lulu, in October,…

Iran Sends Record Amount Of Oil To China

Oct 18, 2018 at 09:09 | Irina Slav

Tankers carrying some 22 million barrels of Iranian crude are on their way to the Chinese port of Dalian, Reuters reports, citing ship-tracking data, and noting this is a…

U.S-Saudi Clash Could Spell Disaster For OPEC

Oct 17, 2018 at 16:50 | Cyril Widdershoven

The Khashoggi case is far from over, as current harsh statements coming from Washington are showing. Not only is there a long line of U.S. Senators calling for an in-depth…

Oil Price Rally Revives Offshore Oil Sector

Oct 17, 2018 at 16:44 | Irina Slav

The offshore drilling segment of the energy industry was among the hardest hit by the 2014 downturn. Many went under, and those that did survive were on their last legs…

U.S. Oil Production May Jump To 14 Million Bpd By 2020

Oct 17, 2018 at 10:32 | Tsvetana Paraskova

U.S. oil production may rise to as much as 14 million barrels of oil per day (bpd) by 2020, Secretary of the Interior Ryan Zinke told Fox Business on…

Large Crude Build Forces Oil Prices Lower

Oct 17, 2018 at 09:43 | Irina Slav

A day after the oversensitive oil market yet again demonstrated surprise at API’s estimate of a 2.13-million-barrel crude oil inventory draw, the Energy Information Administration’s official figures refuted that:…

U.S. Shale’s Glory Days Are Numbered

Oct 16, 2018 at 17:21 | Nick Cunningham

There are some early signs that the U.S. shale industry is starting to show its age, with depletion rates on the rise. A study from Wood Mackenzie found that some…

Saudi Arabia Calls The End Of Russia’s Oil Prowess

Oct 16, 2018 at 16:21 | Julianne Geiger

Saudi Arabia has not only called the end of Russia’s prominence as a global oil behemoth, but anticipates that Russia’s oil exports “will have declined heavily if not disappeared” within…

Hedge Funds Continue To Reduce Bullish Bets On Oil

Oct 16, 2018 at 15:39 | Tsvetana Paraskova

Over the past two weeks, hedge funds and other money managers have been trimming their combined net long position in the most-actively traded oil contracts, taking profits after oil prices…

High Prices Benefit Iran Despite Lost Oil Exports

Oct 16, 2018 at 09:26 | Irina Slav

Iran is raking in more cash from oil exports thanks to higher prices despite the decline in amount of oil exported, the country’s Vice President Eshaq Jahagiri told Iranian…

Will The U.S.-Saudi Spat Upend Oil Markets?

Oct 15, 2018 at 16:36 | Nick Cunningham

Saudi Arabia all but threatened to drive up oil prices if the U.S. took any action to penalize it over the apparent killing of a Saudi journalist.…

Are U.S. Oil Exports Really Unstoppable?

Oct 15, 2018 at 13:47 | Irina Slav

Earlier this year, when U.S. crude oil exports hit a record 2.2 million bpd, the figure was hailed as the beginning of a new era that could eventually see the…

South Korea Cuts Iran Oil Imports To Zero

Oct 15, 2018 at 10:52 | Irina Slav

South Korea has stopped importing crude oil from Iran ahead of the U.S. sanctions that will enter into effect on November 5, Reuters reports, citing customs data. The country…

The Oil Markets Are At A Confusing Crossroads

Oct 12, 2018 at 17:30 | Nick Cunningham

The oil market is “adequately supplied for now,” but the supply losses from Venezuela and Iran leave the market suffering from “strain,” according to a new report from the International…

Libya And Nigeria Lead OPEC Production Boost

Oct 12, 2018 at 17:29 | Ron Patterson

The below charts were created with data from the OPEC Monthly Oil Market Report and the data through September 2018. (Click to enlarge)OPEC crude…

U.S. Drillers Add 11 Rigs Despite Oil Price Correction

Oct 12, 2018 at 12:19 | Julianne Geiger

Baker Hughes reported an 11-rig increase for oil and gas in the United States this week, bringing the total number of active oil and gas rigs to 1,063 according to…

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