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Energy / Crude Oil

Why OPEC Didn’t Boost Production By 800,000 Bpd

Oct 07, 2021 at 09:35 | Irina Slav

Concern that demand for oil may weaken in the future was one of the reasons OPEC+ decided to stick with its original agreement to add 400,000 bpd in combined supply…

Oil Unchanged On Small Crude Inventory Build

Oct 06, 2021 at 09:41 | Irina Slav

Crude oil remained unchanged today after the Energy Information Administration reported an inventory build of 2.3 million barrels for the week to October 1. At 420.9 million barrels, U.S.…

Hedge Funds Scramble To Buy Crude Oil Futures As Market Tightens

Oct 05, 2021 at 13:35 | Irina Slav

Earlier this year, oil began to fall out of favor with traders as the focus on energy attention increasingly shifted towards renewable power and the energy transition. But…

U.S. Shale Giant Says OPEC Controls Oil Prices

Oct 05, 2021 at 11:48 | Tsvetana Paraskova

Unlike in previous years, the U.S. shale patch will not have a large say in where oil prices will be going in the coming months. Currently, control over the market’s…

Aramco: Gas Crunch Boosts Oil Demand By 500,000 Bpd

Oct 05, 2021 at 10:02 | Charles Kennedy

The natural gas crunch has increased global oil demand by 500,000 bpd, the chief executive of Saudi Aramco said at this week's Energy Intelligence Forum. "There is higher demand," Nasser…

Libya’s Oil Sector Descends Into Chaos As Deputy-Minister Resigns

Oct 04, 2021 at 14:58 | Simon Watkins

The resignation of Libya’s deputy oil minister, Refaat al-Abbar, last week threatens to make the current uneasy situation in Libya’s oil sector even worse. With close ties to…

American Oil Drillers Are Facing A Sharp Rise In Costs

Oct 04, 2021 at 11:44 | Irina Slav

U.S. oil producers, especially those active in shale, have been hailed for sticking to a strict financial discipline amid the pandemic-driven crisis and for changing their focus from…

OPEC+ Meeting Ends With Minor Oil Production Hike

Oct 04, 2021 at 09:22 | Julianne Geiger

The OPEC+ meeting has ended with rather disappointing news for those that were hoping for a surprise increase in oil production. The group has agreed to keep the production plans…

OPEC+ Set To Stick To Plan To Ease Oil Production Cuts

Oct 04, 2021 at 08:28 | Tsvetana Paraskova

The OPEC+ alliance is widely expected to keep their current plans of easing the collective oil production cuts as the group gathers for its monthly meeting today. OPEC+ decided in the…

OPEC+ May Add More Oil To Markets Next Month

Oct 01, 2021 at 09:02 | Irina Slav

OPEC+ is considering a production boost by more than the 400,000 bpd monthly the extended oil cartel agreed to earlier this year, Reuters has reported, citing unnamed sources in…

OPEC Boosts Oil Production By 420,000 Bpd To Highest Since April 2020

Sep 30, 2021 at 10:45 | Tsvetana Paraskova

OPEC raised its crude oil production by 420,000 barrels per day (bpd) in September to the highest level since April last year, as the cartel continued to ease the cuts…

China Bets On Shale To Raise Its Oil Production

Sep 30, 2021 at 08:56 | Charles Kennedy

Chinese oil giant PetroChina expects to start pumping shale oil from a project in its major oilfield cluster in northeast China in 2025, company executives and analysts tell Reuters,…

Rapid Demand Recovery Hints At Even Higher Oil Prices

Sep 29, 2021 at 17:05 | Tsvetana Paraskova

Brent prices hit a three-year high at $80 a barrel early on Tuesday, driven by recovering demand and a global energy supply crisis pushing up the use of…

The $52 Trillion Shadow Banks That Supercharged The Commodity Boom

Sep 29, 2021 at 16:55 | Alex Kimani

After years in the dog house, the commodity markets are sizzling hot once again. Copper, lithium, tin, nickel, iron ore

The World’s Fastest Growing Shale Play Keeps On Breaking Records

Sep 29, 2021 at 11:52 | Rystad Energy

Argentina’s Vaca Muerta shale play, having registered strong growth in oil and gas production and well activity levels in recent months, has emerged as the world’s fastest growing major shale…

Biden Administration Begs OPEC+ Again To Bring Down Oil Prices

Sep 29, 2021 at 10:55 | Tsvetana Paraskova

The Biden Administration continues to speak with OPEC about the importance of mitigating high oil prices to better support the economy, White House Press Secretary Jen Psaki said on…

Oil Prices Fall On First Crude Inventory Build In Eight Weeks

Sep 29, 2021 at 09:36 | Irina Slav

Crude oil moved lower today after the Energy Information Administration reported an inventory build of 4.6 million barrels for the week to September 24. This compared with a

$80 Oil Is No Reason For OPEC+ To Alter Its Production Plan

Sep 29, 2021 at 09:00 | Tsvetana Paraskova

Despite the recent rally in oil prices, the OPEC+ group is expected to keep next week its current schedule of easing the collective oil production cuts by 400,000 barrels per…

OPEC+ Will Be Unwilling And Unable To Stop The Oil Price Rally

Sep 28, 2021 at 15:15 | Irina Slav

Few could have predicted that after an already extensive bull run this year amid recovering demand, oil prices had much further to go. And yet, the world’s most…

OPEC Sees Global Oil Demand Growing Until 2035

Sep 28, 2021 at 09:00 | Tsvetana Paraskova

Global oil demand is expected to continue to grow into the mid-2030s to 108 million barrels per day (bpd), after which it is set to plateau until 2045, OPEC

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