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Energy / Crude Oil

OPEC Expands Control Of Oil Markets As Shale Growth Stalls

Jan 17, 2023 at 08:49 | Tsvetana Paraskova

After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands…

Venezuela’s Vast Oil Wealth Could Become The World’s Largest Stranded Asset

Jan 17, 2023 at 08:39 | Matthew Smith

President Joe Biden’s decision to authorize U.S. supermajor Chevron to recommence lifting crude oil in Venezuela breathed hope into President Nicolas Maduro’s plans…

China’s Reopening May Not Lead To A Major Jump In Oil Prices

Jan 16, 2023 at 15:28 | Simon Watkins

China has undergone three distinct phases in its reaction to COVID-19 since the Wuhan Municipal Health Commission reported the first small cluster of cases of ‘pneumonia’ in Wuhan city…

The UK Loophole That Keeps Russian Oil Coming In

Jan 16, 2023 at 14:12 | Alex Kimani

Russia’s 2022 invasion of Ukraine has forced a dramatic restructuring of energy markets in the west, with many European nations vowing to wean themselves off Russian energy products.…

U.S. Oil, Gas Rig Count Sees Small Gains As Crude Inches Higher

Jan 13, 2023 at 12:13 | Julianne Geiger

The total number of total active drilling rigs in the United States rose by 3 this week, according to new data from Baker Hughes published on Friday. The total rig…

U.S. Oil Production Growth’s Path Is Clear

Jan 13, 2023 at 12:05 | Irina Slav

How much will U.S. oil production grow this year—this is the question on a lot of minds, both in the United States itself, and across the world.

Russia Forced To Use More Of Its Own Oil Tankers To Dodge Sanctions

Jan 13, 2023 at 10:50 | Julianne Geiger

Russia is increasing the number of its own oil tankers that it is using to deliver its crude oil to buyers, Bloomberg said on Friday. The EU levied strict sanctions…

G7 Oil Price Cap About To Get More Complicated

Jan 12, 2023 at 15:17 | Alex Kimani

About a month ago, the group of Seven (G7) coalition imposed a price cap on Russian oil with the objective of reducing Russia’s oil revenue which goes to…

The Future Of U.S. Offshore Oil Drilling Hangs In The Balance

Jan 12, 2023 at 12:43 | Tsvetana Paraskova

The Biden Administration is finalizing the next five-year offshore leasing program, which has been delayed by several months already, creating yet another uncertainty for the U.S. oil industry…

180 Million Barrels Of Crude May Never Be Returned To The SPR

Jan 11, 2023 at 16:28 | Irina Slav

Earlier this week, the Biden administration rejected the first bids from companies offering to sell crude oil into the strategic petroleum reserve of…

Kazakhstan Can’t Fill The Void Left By EU Oil Embargo On Russia

Jan 11, 2023 at 13:13 | The Jamestown Foundation

On December 29, 2022, Kazakhstani state-owned oil and gas company KazMunaiGaz announced plans to export oil to Germany starting in January 2023. Arrangements were made to export a…

Oil Prices Steady As Chinese Demand Counters Huge Crude Build

Jan 11, 2023 at 09:45 | Irina Slav

WTI oil held steady at $76 per barrel, after the U.S. Energy Information Administration reported an inventory build of 19 million barrels for the first week of the new…

Barclays Sees $15-$25 Barrel Downside If Manufacturing Activity Slows

Jan 10, 2023 at 13:57 | Julianne Geiger

Barclays cautioned on Tuesday that we could see a $15-$25 barrel downside risk for crude oil prices compared to its current forecast of $98 per barrel, according to Reuters. In…

 A Myriad Of Uncertainties Are Set To Keep Oil Prices Volatile

Jan 10, 2023 at 12:10 | Tsvetana Paraskova

Energy prices are expected this year to pick up where they left off in 2022—swinging wildly in volatile trading amid a whole host of uncertainties. Geopolitical…

U.S. Congress To Vote On Ending SPR Oil Sales To China

Jan 10, 2023 at 11:12 | Julianne Geiger

The U.S. House of Representatives is set to vote this week on ending sales of the U.S. Strategic Petroleum Reserves to China, House Majority Leader Steve Scalise said in a…

A Myriad Of Uncertainties Are Set To Keep Oil Prices Volatile

Jan 10, 2023 at 09:02 | Tsvetana Paraskova

Energy prices are expected this year to pick up where they left off in 2022—swinging wildly in volatile trading amid a whole host of uncertainties. Geopolitical…

WTI Breaks $75 Barrier, But Traders Remain Cautious

Jan 09, 2023 at 13:02 | Charles Kennedy

After shedding 8% last week, crude oil prices are trading up over 1.7% midday Monday, driven by China’s reopening and a weaker U.S. dollar.  West Texas…

Washington Has Trouble Refilling The SPR After 220 Million Barrel Draw

Jan 09, 2023 at 11:20 | Charles Kennedy

After drawing over 221 million barrels of oil from the Strategic Petroleum Reserve (SPR) in 2022, Washington is having a tough time refilling…

The Top 5 Exploration Prospects of 2023

Jan 06, 2023 at 18:30 | Gerald Jansen

Upstream companies are starting to adapt to an environment where oil prices will be higher for longer, one where OPEC+ production discipline and US shareholder returns are just as important…

Chevron’s Authorization To Extract Oil Will Not Boost Venezuela’s Production

Jan 06, 2023 at 12:04 | Matthew Smith

After Russia’s president Vladimir Putin launched the invasion of Ukraine, the U.S. along with many of Washington’s allies banned imports of Russian crude oil. This caused energy prices…

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