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Razor-Thin Spare Capacity To Keep Oil Prices Elevated

Razor-Thin Spare Capacity To Keep Oil Prices Elevated

Supply disruptions from the Covid-19…

Energy / Crude Oil

Colombia May Shoot Itself In The Foot With Ban On Fracking

Sep 23, 2022 at 13:42 | Matthew Smith

  The controversial hydrocarbon technique hydraulic fracturing, known as fracking, which sparked the U.S. oil boom catapulting that country to become the largest petroleum producer globally, is drawing…

Oil Rig Count Sees Small Jump Amid Crash In Crude Prices

Sep 23, 2022 at 12:25 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 1 this week, according to new data from Baker Hughes published on Friday. The total rig count…

An Oil Supply Shock May Be Imminent

Sep 23, 2022 at 09:49 | Irina Slav

When the chief executive of Aramco said earlier this week that years of underinvestment had damaged the balance between supply and demand in the oil market, it should…

Oil Falls Below $80 As Powell Warns A Recession May Be Looming

Sep 23, 2022 at 09:08 | Charles Kennedy

Oil prices dipped by 5% early on Friday, with the U.S. benchmark slumping to the lowest level since January, on the back of heightened concerns about slowing economic growth and…

Razor-Thin Spare Capacity To Keep Oil Prices Elevated

Sep 23, 2022 at 08:59 | Tsvetana Paraskova

The post-COVID rebound in economies and oil demand have left global spare oil production capacity at very low levels with a very small cushion to absorb possible supply-side…

How Big A Problem Is America’s Shrinking Oil Reserve?

Sep 23, 2022 at 07:36 | Robert Rapier

What is the U.S. Strategic Petroleum Reserve (SPR)? What are the implications of depleting the SPR, which the U.S. has been doing now since 2016? Further, what has…

Why India Is Suddenly Buying Less Russian Crude

Sep 22, 2022 at 09:30 | Charles Kennedy

India, which has been buying large volumes of Russian crude since the Russian invasion of Ukraine to take advantage of cheap oil, is set to slow purchases of…

Oil Prices Fall After Fed Raises Rates

Sep 21, 2022 at 13:08 | Julianne Geiger

Oil prices continued to slide on Wednesday afternoon after the Federal Reserve announced it would hike rates by 75 basis points. Fed Chair Jerome Powell acknowledged last month that rate…

Oil Prices Dip As Inventories Build Across The Board

Sep 21, 2022 at 09:40 | Irina Slav

Crude oil prices went down today, after the U.S. Energy Information Administration reported a crude oil inventory build of 1.1 million barrels for the week to September 16. For…

Germany Seizes Rosneft Refineries, But Doesn’t Solve Its Oil Problem

Sep 19, 2022 at 10:59 | Alex Kimani

After taking over a Gazprom subsidiary earlier this year, Germany has now assumed control of Russian Rosneft refining assets in the country in a bid at…

Oil Under Pressure As Traders Await Fed Decision

Sep 19, 2022 at 10:21 | Tom Kool

Pressured by a strong dollar and weaker demand forecasts, oil prices continued their way down on Monday morning after closing last week on a bearish note. 

Maduro: Venezuela Is Ready To Send Its Oil To The World

Sep 19, 2022 at 08:49 | Felicity Bradstock

Earlier this year there were high hopes around the U.S. lifting its sanctions on Venezuela in the face of oil shortages and rising prices, due to the Russian…

U.S. Energy Producers Warn European Buyers: No Bailout Is Coming

Sep 16, 2022 at 09:11 | ZeroHedge

The threat of power rationing across Europe persists even after EU officials held an emergency meeting last week to starve off the impending winter energy crisis.…

European Oil Giant Warns Windfall Tax Could Backfire

Sep 15, 2022 at 10:34 | Alex Kimani

The chief executive of Austrian multinational integrated oil, gas and petrochemical company OMV (OTCPK: OMVJF) Alfred Stern has warned that the EU's planned…

Oil Prices Fall As Rail Strike Fears Fade

Sep 15, 2022 at 09:55 | Julianne Geiger

Oil prices fell on Thursday morning after a rail union reached a tentative agreement with its workers, averting a potentially disastrous rail strike in the United States.

WTI Inches Higher After EIA Reports Small Crude Inventory Build

Sep 14, 2022 at 09:40 | Irina Slav

Crude oil prices inched higher today after the Energy Information Administration reported an inventory increase of 2.4 million barrels for the week to September 9. This compared with a…

Permian Oil Production Is Set To Hit A Record High

Sep 13, 2022 at 01:51 | Irina Slav

Crude oil production in the Permian Basin is set to hit a record high next month, adding 66,000 bpd from September to 5.413 million bpd, the Energy Information Administration said…

China’s Covid Lockdowns Are The Single Biggest Threat To Oil Markets

Sep 12, 2022 at 09:28 | Simon Watkins

The sharp drop in crude oil prices last week on news that China had extended a Covid-19 lockdown in Chengdu, the capital of the southwestern province of Sichuan,…

Nigeria’s Oil Exports Plunge To Record Low

Sep 12, 2022 at 09:15 | Tom Kool

Crude oil exports out of Nigeria plunged to below 1 million barrels per day (bpd), their lowest level on record, last month, oil export analytics firm Petro-Logistics

Oil Prices Rise Despite Economic Concerns

Sep 09, 2022 at 11:40 | Julianne Geiger

Crude oil prices rose on Friday by 3% despite fears of a global recession which has pervaded the oil price narrative in recent weeks, weighing on prices. 

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