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StanChart: Oil Demand Set for All-Time High in May

StanChart: Oil Demand Set for All-Time High in May

Standard Chartered: global demand will…

Energy / Crude Oil

Colombia’s Oil Industry Faces 3 Big Problems

Feb 14, 2018 at 13:22 | Matthew Smith

Colombia’s beleaguered oil patch remains under considerable pressure. Aside from falling investment and a lack of proven reserves that has led to fears that it only can support another five…

Saudi Arabia Vows To Cut More Production To Stabilize Oil Market

Feb 14, 2018 at 09:55 | Tsvetana Paraskova

Saudi Arabia will cut additional 100,000 bpd of its oil production next month and keep its exports below 7 million bpd in March in a bid to help clear…

Oil Prices Recover After Small Crude Inventory Build

Feb 14, 2018 at 09:46 | Irina Slav

After reporting two consecutive weekly crude oil inventory builds, this week the EIA continued with another build, of 1.8 million barrels for the week to February 9. Analysts cited…

Is History Repeating Itself In Oil Markets?

Feb 13, 2018 at 16:21 | Nick Cunningham

Back in 2014, U.S. shale production was growing so fast that it ended up crashing the market. Now, history could be repeating itself. That was the warning from the International…

Oil Price Correction Unlikely To Harm European Majors

Feb 13, 2018 at 16:12 | Irina Slav

Europe’s oil supermajors have largely adapted to lower oil prices thanks to strict financial discipline and efforts to bring down their breakeven levels, a new report from Fitch says,…

IEA Warns Of New Oil Glut

Feb 13, 2018 at 09:30 | Irina Slav

The global oil market could slip into deeper oversupply on the back of non-OPEC production growth led by the United States, the International Energy Agency said in its latest…

OPEC Unfazed As Rivals Boost Oil Output

Feb 12, 2018 at 16:27 | Nick Cunningham

In the aftermath of the wave of aggressive forecasts for supply growth from U.S. shale lately, OPEC added its voice to the mix on Monday, acknowledging that its American rivals…

U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff

Feb 12, 2018 at 14:23 | Tsvetana Paraskova

The budget deal that the U.S. Congress passed and President Donald Trump signed into law last Friday calls for selling 100 million barrels of the Strategic Petroleum Reserve (SPR) by…

Iraq Boosts Asian Oil Exports To New Record

Feb 12, 2018 at 12:29 | Matt Smith

We recently discussed Iraqi flows to the U.S., and how they continue to exhibit strength. Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third…

OPEC Production Steady In January As Venezuela Output Plunges

Feb 12, 2018 at 10:59 | Tsvetana Paraskova

OPEC’s total crude oil production averaged 32.30 million bpd in January, down by 8,100 bpd from December, as rising production in Iraq, Saudi Arabia, and Libya did not fully offset…

Oil Majors Optimistic Despite Price Plunge

Feb 09, 2018 at 17:00 | Tsvetana Paraskova

The earnings season for the oil majors is over. Judging from their results, so is the three-year downturn that has transformed the industry after companies slashed spending and jobs and…

U.S. Shale Companies Are Ready To Expand

Feb 09, 2018 at 16:52 | Matthew Smith

The latest oil rally, which sees crude trading at close to its highest point in three years, is sufficient to garner considerable attention from market pundits, industry insiders and investors…

The Rise And Fall Of Colombia’s Shale Industry

Feb 09, 2018 at 16:46 | Matthew Smith

One of Latin America’s most stunning tales of economic development in recent years appears doomed to come to a bitter end… Colombia’s reliance upon its abundant oil and gas reserves,…

Oil Market Wipeout Is Set To Continue

Feb 09, 2018 at 16:30 | Jim Hyerczyk

Crude oil futures are being hit hard the week-ending February 9. Both U.S. West Texas Intermediate and international favorite Brent crude oil futures have trended lower all week. As of…

India To Boost Oil Refining Capacity By 77%

Feb 08, 2018 at 10:42 | Irina Slav

India plans to increase its crude oil refining capacity by 77 percent to 438.65 million tons, or more than 8 million bpd, a government report has revealed. The increase…

China Oil Imports Hit Another Record In January

Feb 08, 2018 at 09:36 | Irina Slav

Crude oil imports to China hit another record last month, reaching 9.57 million barrels daily, for a total of 40.64 million tons, customs data showed. This is 400,000 bpd…

U.S. Oil Production Is Rising Much Faster Than Expected

Feb 07, 2018 at 17:28 | Nick Cunningham

Shale executives have gone to great lengths to convince investors that they will not drill aggressively now that oil prices have rallied into the $60s. But in a new…

Should The Saudis Fear The Permian’s Production Potential?

Feb 07, 2018 at 17:21 | Tsvetana Paraskova

The Permian has increased its oil production more than any other shale basin in recent years, and it even had its production growing when all other U.S. shale plays were…

Iran Could Add 100,000 Bpd In “Five Or Six Days”

Feb 07, 2018 at 16:50 | Irina Slav

Amid positive comments from OPEC on the global oil supply situation and indications that some members of the cartel are ready for a longer extension of the production cut deal,…

Exxon To Produce All Of Its Oil Despite Peak Demand Fears

Feb 07, 2018 at 14:43 | Nick Cunningham

ExxonMobil was forced to finally acknowledge the possibility that future climate change policy could lead to peak oil demand, a serious threat to the company’s operations over the long-term. In…

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