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Energy / Crude Oil

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

Jun 19, 2018 at 10:30 | Tsvetana Paraskova

The United States has again outstripped Saudi Arabia as the holder of the world’s biggest recoverable oil resources with current technology, largely due to the doubling of fracking operations in…

Where Will U.S. Frackers Drill Next?

Where Will U.S. Frackers Drill Next?

Jun 18, 2018 at 16:47 | Tsvetana Paraskova

With WTI oil prices staying above $60 a barrel for several months, U.S. drillers are breaking production records each week, mostly thanks to the Permian in West Texas and…

Russia, Saudi Arabia Extend Oil Partnership Indefinitely

Russia, Saudi Arabia Extend Oil Partnership Indefinitely

Jun 18, 2018 at 11:58 | Irina Slav

Russia and Saudi Arabia have agreed to extend their oil partnership indefinitely, with the agreement stipulating that they could move to regulate oil production at any moment, TASS reports, quoting…

OPEC Discusses Boosting Production By 300,000 Bpd-600,000 Bpd

OPEC Discusses Boosting Production By 300,000 Bpd-600,000 Bpd

Jun 18, 2018 at 10:03 | Tsvetana Paraskova

OPEC producers are trying to negotiate a compromise deal that could result in the cartel boosting production by between 300,000 bpd and 600,000 bpd over the next few months, Bloomberg…

Iran Looks To Veto Saudi, Russian Oil Production Proposal

Iran Looks To Veto Saudi, Russian Oil Production Proposal

Jun 18, 2018 at 09:20 | Irina Slav

In the latest signal that the upcoming OPEC+ meeting in Vienna could end in disaster, Iran’s OPEC representative said the country will veto any proposal for a production increase with…

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Shale Shifts Attention To This ‘Forgotten’ Oil Play

Jun 15, 2018 at 16:55 | Irina Slav

The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention.…

Oil Demand Growth Could Start To Soften Soon

Oil Demand Growth Could Start To Soften Soon

Jun 15, 2018 at 16:53 | Tsvetana Paraskova

OPEC may tout the production cuts pact as the key driver of oil market rebalancing, but if it weren’t for the strong global oil demand growth of the past three…

Venezuela Forced To Shut Down Production As Operations Fall Apart

Venezuela Forced To Shut Down Production As Operations Fall Apart

Jun 15, 2018 at 16:51 | Nick Cunningham

Every week the crisis in Venezuela takes a turn for the worse. There are now signs that its oil industry is entering a dangerous new phase. Argus Media reports…

Who Gets Hold Of Russia’s Key Oil Hub?

Who Gets Hold Of Russia’s Key Oil Hub?

Jun 15, 2018 at 16:51 | Viktor Katona

One of Russia’s most important oil ports, the sunlit Novorossiysk, has become a battleground for the country’ state-owned companies. Located in the ice-free Tsemesskaya Bay, Novorossiysk is used to stormy…

240,000 Bpd Offline Following Clashes In Libya

240,000 Bpd Offline Following Clashes In Libya

Jun 15, 2018 at 10:01 | Irina Slav

Continuing clashes between the Libyan National Army and rival militant groups have cut Libya’s oil production by 240,000 bpd, prompting the shutdown of Libya’s two biggest oil ports, Es Sider…

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