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Recession Fears Loom Large Over Bullish Oil Market

Recession Fears Loom Large Over Bullish Oil Market

High inflation, Fed tightening and…

Energy / Crude Oil

China’s COVID Lockdowns Force Aramco To Slash Oil Export Prices

May 09, 2022 at 08:34 | Irina Slav

Saudi Aramco has reduced its oil export prices for the first time in four months amid Covid lockdowns in China that are spurring concern about demand stability.

U.S. Rig Count Ticks Higher As Oil Prices Head For Another Weekly Gain

May 06, 2022 at 12:49 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 7 this week, after an increase of 3 rigs in the week prior, according to…

NOPEC Bill Could Send Prices At The Pump Even Higher

May 06, 2022 at 12:35 | Tsvetana Paraskova

After some two decades of failed attempts, the NOPEC (No Oil Producing and Exporting Cartels) Act was passed by a Senate panel on Thursday in…

NOPEC: America's Last Stand Against OPEC’s Drift To The East

May 06, 2022 at 12:26 | Simon Watkins

The passing on Thursday by a U.S. Senate committee of the ‘No Oil Producing or Exporting Cartels’ (NOPEC) bill is the surest sign yet that Washington has finally…

OPEC Stays Silent As EU Rushes To Ban Russian Oil

May 06, 2022 at 12:20 | Irina Slav

The Organisation of Petroleum Exporting Countries and its partners in OPEC+ led by Russia decided this week they would not increase their target…

PetroChina Sees Fuel Demand Rising In China Despite COVID

May 06, 2022 at 11:03 | Charles Kennedy

Chinese fuel demand will continue to expand this year, despite COVID lockdowns and weak economic data for April, says PetroChina, the country’s biggest oil and gas refiner.

Russia Boosts Crude Sales To India’s Top Refiner

May 06, 2022 at 08:49 | Tsvetana Paraskova

Rosneft, the largest oil producer in Russia, will ship seven crude cargoes to India’s top refiner, Indian Oil Corporation, this month, traders with knowledge of the deals told…

JPMorgan Slashes Demand Outlook Amid Soaring Oil Prices

May 05, 2022 at 09:17 | Irina Slav

JP Morgan revised its forecast for oil demand this year down by 1 million barrels daily, citing high oil prices. Per…

OPEC+ Agrees To Boost Production By 432,000 Bpd In June

May 05, 2022 at 07:31 | Tsvetana Paraskova

The OPEC+ group agreed on Thursday to leave its production plan unchanged, aiming to boost crude oil production in June by 432,000 barrels per day (bpd), in a…

Oil Prices Hit $110 As Europe Prepares To Ban Russian Crude

May 04, 2022 at 13:02 | Charles Kennedy

Oil soared to $110 mid-Wednesday as details on the European Union’s plans to ban Russia oil continue to be revealed and digested by the market. Up…

Don’t Expect OPEC+ To Boost Production In June

May 04, 2022 at 10:45 | Charles Kennedy

The OPEC+ Joint Technical Committee (JTC) meeting ahead of tomorrow’s main ministerial meeting has concluded without any revisions of demand growth forecasts, according to a Walter Bloomberg

Oil Prices Drop On Unexpected Crude Inventory Build

May 04, 2022 at 09:36 | Irina Slav

Crude oil prices fell slightly today after the U.S. Energy Information Administration estimated oil inventories had added 1.3 million barrels during the week to April 29. At 415.7 barrels,…

Standard Chartered: China’s Oil Demand Set To Drop This Year

May 04, 2022 at 08:08 | Tsvetana Paraskova

China’s oil demand is now expected to decline this year compared to 2021, due to weakening economic growth with the extension of fresh COVID-related lockdowns, according to Standard…

U.S. Offshore Oil Boom Is No Cure For Global Supply Crunch

May 03, 2022 at 18:01 | Alex Kimani

With news that Germany is no longer a hold out on EU-wide Russian oil import restrictions, the oil market supply crunch is looking…

Shale Producers Face $42 Billion In Hedging Losses

May 03, 2022 at 12:10 | Julianne Geiger

With earnings season underway, America’s shale producers are expected, almost across the board, to report stellar earnings, but as Bloomberg reports, they’ll also be taking huge losses from…

The Calm Before The Storm In Oil Markets

May 03, 2022 at 11:42 | Tom Kool

The first week of May could have brought us a much-awaited paradigm shift, however the markets still appraise the impact of China’s COVID lockdowns amidst the mass-testing taking place in…

$100 Oil Encourages Iraq To Fast-Track Production At Two Major Oil Fields

May 03, 2022 at 09:34 | Simon Watkins

With Brent crude oil still holding above the key US$100.00 per barrel support level, Iraq is looking to optimise its oil output, including from those fields that are…

Buffett Is Betting Big On Oil And Gas Stocks

May 02, 2022 at 09:58 | Alex Kimani

For decades, Berkshire Hathaway (NYSE:BRK.B) Chairman and CEO Warren Buffett maintained a pretty conservative approach to investing, favoring retail and banking stocks while giving a wide berth to…

Iran Moves Ahead With $500 Million South Pars Oil Development Deal

May 02, 2022 at 09:50 | Simon Watkins

Iran is moving ahead with a US$500-million contract for the production development and enhanced oil recovery from its strategically vital South Pars Oil Layer signed between the National…

3 Shale Stocks Bucking A Worrying Trend

May 02, 2022 at 09:41 | Alex Kimani

Back in February, the Wall Street Journal released an alarming report that revealed how the U.S. shale revolution could be on its last…

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