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Energy / Crude Oil

The Refining Industry Is Struggling To Adapt To The Future

Jul 13, 2021 at 12:45 | Tsvetana Paraskova

The upstream oil and gas business is recovering from one of the worst slumps in recent memory as oil prices sit at around $75 per barrel and global…

Oil Has Become The Hottest Commodity On Wall Street

Jul 13, 2021 at 12:17 | Irina Slav

Crude oil has been having a great 2021 so far—a very different situation to last year’s when the pandemic devastated demand for all commodities fueling a price rout…

World’s Recoverable Oil Resources Shrinks By 9%

Jul 13, 2021 at 12:14 | Rystad Energy

Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the…

Permian To Drive U.S. Shale Production Increase In August

Jul 13, 2021 at 10:23 | Charles Kennedy

U.S. shale oil production will increase by a modest 42,000 bpd in August, according to the Energy Information Administration. In its latest Drilling Productivity Report, the EIA forecast that…

The Ongoing Transformation Of ‘Big Oil’

Jul 12, 2021 at 16:03 | Irina Slav

When last year BP vowed to reduce its oil and gas output by 40 percent by 2030 as it shifts to renewable energy, it came as…

Colombia Looks Offshore To Revitalize Its Oil Industry

Jul 12, 2021 at 12:54 | Matthew Smith

After an exceptionally tough 2020 and poor start to 2021 for Colombia’s oil industry, the country’s energy ministry is betting on an offshore…

OPEC+ Still Far From Resolving UAE-Saudi Spat

Jul 12, 2021 at 09:06 | Tsvetana Paraskova

The odds of an OPEC+ meeting this week look increasingly unlikely as the group has failed to make progress in resolving the differences between key OPEC members Saudi Arabia and…

How COVID-19 Triggered The Mother Of All Oil Crises

Jul 09, 2021 at 16:02 | Haley Zaremba

The COVID-19 pandemic certainly wasn’t the first historic crash or economic crisis for the oil and gas industry, and it (probably) won’t be the last.

UBS: Oil Demand To Return To Pre-Covid Levels By Q1 2022

Jul 09, 2021 at 08:51 | Irina Slav

Crude oil demand will rebound to pre-pandemic levels by the first quarter of 2022, according to Wayne Gordon, executive director of commodities and forex at UBS Global Wealth Management. Speaking…

U.S. Shale On Track For One Of Its Best Years Ever

Jul 08, 2021 at 12:11 | Alex Kimani

After seven consecutive weeks of gains, oil prices have gone into reverse gear once again, thanks mainly to the latest OPEC+ spat that left everyone wondering what to…

Oil Prices Rise As EIA Data Beats Expectations

Jul 08, 2021 at 10:08 | Irina Slav

Crude oil prices rose higher today after the Energy Information Administration reported an inventory draw of 6.9 million barrels for the week to July 2. This compared with a…

The Oil Stocks Wall Street Recommends

Jul 07, 2021 at 11:54 | Tsvetana Paraskova

As oil prices have rallied more than 40 percent this year, analysts and institutional investors have grown increasingly bullish on oil stocks, which, many believe, are still undervalued…

Is There Still Hope For Argentina’s Struggling Shale Patch?

Jul 06, 2021 at 10:33 | Felicity Bradstock

Argentina is working to boost its oil production as well as investing in shale as the Latin American oil and gas giant continues to focus on traditional energy.  …

Oil Markets Will Tighten Regardless Of OPEC's Decision

Jul 05, 2021 at 15:24 | Tsvetana Paraskova

The oil market is tightening and will continue to draw down inventories for the rest of the year. This drawdown is largely due to OPEC+ offering less supply…

Delayed Deal Between Saudi Arabia And India May Still Happen Against All Odds

Jul 05, 2021 at 15:21 | Simon Watkins

A long-delayed deal between Saudi Arabia’s flagship oil company, Saudi Aramco, and Indian conglomerate, Reliance Industries, looks closer to going ahead following the recent appointment of Aramco chairman,…

Could Iran Raise Its Oil Production To 6 Million Bpd?

Jul 05, 2021 at 15:17 | Alex Kimani

The unsuccessful attempts by OPEC+ to reach a deal on output cuts increase the risk of creating a supply squeeze in an already tight market,…

Analyst Says Market Too Optimistic About Demand

Jul 05, 2021 at 14:51 | Tsvetana Paraskova

Oil market participants may have focused too much on the surging U.S. fuel demand with states re-opening, possibly ignoring the still lurking COVID threats to demand elsewhere, energy analyst Vandana…

Could Guyana Replace Venezuela As A Regional Oil Giant?

Jul 02, 2021 at 14:12 | Felicity Bradstock

Guyana is continuing to build its reputation as the new oil hub of the Americas, with more oil firms seeking a stake in the country’s oil fields where…

Record Decline In U.S. Crude Stockpiles Fuels Oil Rally

Jul 02, 2021 at 14:09 | Tsvetana Paraskova

Surging U.S. fuel demand amid stagnant domestic crude oil production is drawing down American crude inventories at the quickest pace in nearly 40 years.  The record-fast…

OPEC: From “Increasingly Irrelevant” To Ultimate Market Mover

Jul 02, 2021 at 13:51 | Irina Slav

The oil world is waiting with bated breath to learn what, exactly, OPEC and its partners in production curbs will decide at their meeting in Vienna this week.…

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