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Energy / Crude Oil

Hefty Inventory Draw Boosts Oil Prices

Jun 27, 2018 at 09:41 | Irina Slav

A day after the American Petroleum Institute helped push crude prices even higher by estimating a 9.228-million-barrel draw in U.S. crude oil inventories, the EIA confirmed the draw,…

Oil Jumps As Trump Asks Allies To Cut Off Iranian Oil

Jun 26, 2018 at 17:36 | Nick Cunningham

The Trump administration is going to extreme lengths to disrupt as much oil from Iran as possible, and the implications for the oil market could be severe. When the Obama…

Is The Eagle Ford About To Boom Again?

Jun 26, 2018 at 16:59 | Irina Slav

When the U.S. Geological Survey published its updated resource estimate for the Wolfcamp Basin in the Permian a couple of years ago, it added fresh fuel to an already major…

Saudi Arabia, Kuwait Halt Oil Production In Neutral Zone

Jun 26, 2018 at 15:38 | Tsvetana Paraskova

Oil production the neutral zone between Saudi Arabia and Kuwait has stopped until the parties reach an agreement, Kuwaiti state news agency KUNA reported on Tuesday, citing Kuwait’s Oil…

Iran Blames OPEC For Vague Output Agreement

Jun 26, 2018 at 10:48 | Tim Daiss

OPEC and its non-OPEC partners, including Russia, have agreed to increase oil production after meetings on Friday and Saturday. The production increase will start in July by “measurable” supply…

Gasoline Price Set To Soar Despite OPEC+ Deal

Jun 25, 2018 at 15:37 | Irina Slav

Nearly everyone expected the OPEC+ decision to start raising oil production on Friday, with U.S. drivers excited to get some relief from high gas prices at the start of driving…

Norway’s Oil Discoveries On Track For Best Year Since 2010

Jun 25, 2018 at 15:37 | Tsvetana Paraskova

Higher oil prices and increased efficiency have made companies more optimistic that they could spend more on exploration on the Norwegian Continental Shelf (NCS) this year than they did in…

Saudi Oil Minister: OPEC+ Agreement Is Just The Beginning

Jun 25, 2018 at 11:20 | Irina Slav

OPEC’s decision to rein in compliance rates with the 2016 oil production cut deal is “interim”, Saudi Arabia’s Oil Minister Khalid al-Falih said after the meeting as quoted by…

Gulf Of Mexico Production Expected To Hit Record High

Jun 22, 2018 at 17:08 | Tsvetana Paraskova

While the U.S. shale production in the Permian has been grabbing most of the market and media attention over the past two years, the Gulf of Mexico has been quietly…

Rig Count Falls As U.S. Oil Output Flatlines

Jun 22, 2018 at 12:17 | Julianne Geiger

Baker Hughes reported another dip in the number of active oil and gas rigs in the United States today. Oil and gas rigs decreased by 7 rigs, according to…

OPEC+ Proposes 1-Million-Bpd Production Increase

Jun 22, 2018 at 09:01 | Irina Slav

Update: OPEC chairman Kachikwu says that OPEC+ will add 700,000 bpd ‘real barrels’ The joint ministerial monitoring committee of OPEC, Russia and the other non-OPEC partners has proposed a production…

The U.S.-China Trade War Is Great News For OPEC

Jun 21, 2018 at 15:20 | Tsvetana Paraskova

The renewed U.S.-Chinese trade tit-for-tat threatens to limit U.S. crude oil exports to China that have been gaining pace in recent months and eating into OPEC’s share in the market,…

Core OPEC Ramps Up Production Ahead Of Meeting

Jun 21, 2018 at 12:35 | Matt Smith

As discussed on CNBC Asia last night, Core OPEC has been ramping up exports this month ahead of tomorrow's OPEC meeting in Vienna. Historically, production typically rises ahead of…

NAFTA Rift Could Be A Boon For Canadian Oil

Jun 21, 2018 at 11:56 | Vanand Meliksetian

Looming trade wars have made frequent headlines since the election of U.S. president Donald J. Trump. His view on the U.S.’ position in global trade is that for too long…

OPEC Meeting Could End Without Decision

Jun 20, 2018 at 17:11 | Irina Slav

Back in 2011, when OPEC met to discuss raising oil production to offset the drop in Libya, resulting from the civil war, Saudi Arabia’s Ali al-Naimi called it “one…

Iran Hints At Compromise To Raise Oil Output

Jun 20, 2018 at 15:14 | RFE/RL staff

Iran has suggested it could be open to a compromise on a small rise in OPEC oil output after earlier rejecting a plan by Russia and Saudi Arabia to increase…

Russia Gears Up To Boost Oil Production In July

Jun 20, 2018 at 11:46 | Tsvetana Paraskova

Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in…

Hedge Funds Turn Bullish On Brent Crude Ahead Of OPEC Meeting

Jun 20, 2018 at 09:43 | Tsvetana Paraskova

For the first time in eight weeks, hedge funds and other money managers boosted last week their net long position in Brent Crude, increasing their bets that Brent oil…

Oil Inches Higher On Strong Crude Draw

Jun 20, 2018 at 09:43 | Irina Slav

Crude oil prices remained relatively stable after the Energy Information Administration reported a draw of 5.9 million barrels in U.S. crude oil inventories for the week to June 15.…

The Last Oil Frontier In The Gulf Of Mexico

Jun 19, 2018 at 12:50 | David Messler

The U.S. Gulf of Mexico, (GoM) has been a tremendous resource that has largely been developed over the last thirty years or so. One by one, companies ventured into deep…

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