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Nigeria To Launch Crude Trading at its Commodity Exchange

Nigeria To Launch Crude Trading at its Commodity Exchange

Africa’s biggest oil producer, Nigeria,…

Large Crude Inventory Build Rocks Oil Prices

Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower…

Energy / Crude Oil

Oil Prices At Risk Of Economic Downturn

Jul 18, 2018 at 14:30 | Nick Cunningham

Oil prices have retreated as disrupted supply from Libya has started to come back online, threatening the recent gains in oil prices. But a bigger threat to crude over the…

Houston To Overtake Cushing As Key Hub

Jul 18, 2018 at 14:29 | Nick Cunningham

Houston is emerging as one of the great oil hubs in the world, and pretty soon it will be outfitted with an oil futures contract, which could cement its position.…

Oil Sector Under Fire In Libyan Corruption Crackdown

Jul 18, 2018 at 14:29 | Tsvetana Paraskova

The latest port blockade in Libya, which had sent the country’s oil production plunging and oil prices surging, was lifted last week with new promises of transparency and the…

Surprise Crude Oil Build Sends Oil Prices Down

Jul 18, 2018 at 09:45 | Julianne Geiger

The Energy Information Administration reported a surprise major build in crude oil inventories of 5.8 million barrels for the week to July 13, after a huge draw of

Oil Selloff Gives Trump More Room On Iran

Jul 17, 2018 at 12:38 | Nick Cunningham

The Trump administration has been going back and forth over how hard it plans on pushing countries to cut their imports of Iranian oil to zero. After softening the tone…

Is The U.S. Overly Dependent On Russian Oil?

Jul 17, 2018 at 12:32 | Robert Rapier

At this week’s NATO meeting in Brussels, President Trump criticized Germany’s reliance on Russian natural gas: “Germany is totally controlled by Russia. They will be getting between 60 and 70…

Why Is Venezuela Still Sending Subsidized Oil To Cuba?

Jul 17, 2018 at 11:26 | Haley Zaremba

In the past, oil has accounted for 96 percent of Venezuela's exports and over 40 percent of government revenues. Now, as the nation’s economy continues to crumble amid sanctions, political…

Wood Mackenzie: Global Peak Oil Demand Expected In 2036

Jul 16, 2018 at 09:16 | Tsvetana Paraskova

Peak oil demand is expected to come around 2036 as electric vehicles and autonomous vehicles are expected to play an increasingly important role in the world’s transportation sector, the Financial…

Chinese Oil Demand Growth Could Slow Down Soon

Jul 13, 2018 at 13:18 | Tsvetana Paraskova

Oil demand growth in the world’s biggest oil importer—China—is at risk of slowing down, at least in the coming months.   Higher oil prices play a role in this, but…

Record Oil Production Doesn’t Free U.S. From Global Market

Jul 13, 2018 at 13:15 | Nick Cunningham

In the first week of July, U.S. net imports of petroleum products fell to just 1.670 million barrels per day (mb/d), the lowest weekly total on record in at…

Is The Oil Industry Repeating A Critical Error

Jul 13, 2018 at 13:03 | Kurt Cobb

Ten years ago this week—July 11, 2008 to be exact—the price of a barrel of oil on the New York Mercantile Exchange hit an intraday high of $147.27, its highest…

Russia: Oil Producers Will Act If Market Deficit Emerges

Jul 13, 2018 at 13:01 | Tsvetana Paraskova

Should supply disruptions in Venezuela and Libya lead to a deficit on the oil market, OPEC and its Russia-led non-OPEC partners will act to ensure enough supply, Russia’s Energy…

Iraq Set To Boost Oil Output After Bai Hassan Restart

Jul 13, 2018 at 08:59 | Kayrros

Satellite surveillance shows that production has fully resumed at the Bai Hassan field in Iraq. The field is part of a complex of oilfields in Northern Iraq that were shut…

Libya’s Oil Production Ramps Up After Ports Reopen

Jul 12, 2018 at 14:53 | Tsvetana Paraskova

Libya’s Abu Attifel oil field has restarted operations after a two-week halt due to the closure of oil ports—a closure that ended on Wednesday after Libya’s National Oil Corporation (NOC)…

Oil Prices Crash As Libya Resumes Production

Jul 11, 2018 at 17:26 | Nick Cunningham

Oil prices fell sharply on Wednesday on news that Libya was suddenly set to restore hundreds of thousands of barrels per day, and the U.S. struck a softer line on…

Oil’s Perfect Storm Lays At Trump’s Feet

Jul 11, 2018 at 14:02 | Tim Daiss

It’s becoming painfully clear that the way forward for global oil markets is going to be bumpy, very bumpy, particularly as we head into next year. Much of this uncertainty,…

Will The U.S. Compromise On Iran Oil Sanctions?

Jul 11, 2018 at 13:55 | Irina Slav

Some of the United States’ closest allies are scrambling to find a way around the latest sanctions of the Trump Administration against Tehran, and Washington may have to revise its…

OPEC: Oil Demand Growth To Slow In 2019

Jul 11, 2018 at 12:15 | Tsvetana Paraskova

Global oil demand growth is expected to moderate next year as the world economy is expected to grow slightly less than this year, OPEC said on Wednesday in its…

India To OPEC: Soaring Oil Prices Will Erode Demand

Jul 11, 2018 at 12:06 | Irina Slav

OPEC needs to pay more attention to the movement of oil prices and take action to reduce them or it will find itself with a slowdown in demand on its…

Libya Reopens Oil Ports

Jul 11, 2018 at 11:51 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) lifted on Wednesday the force majeure on four ports in the eastern part of the country after the export terminals were handed over to…

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