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Is This The End Of The Covid Oil Glut?

Is This The End Of The Covid Oil Glut?

The massive oil glut that…

The Permian Faces An Empty Pipeline Crisis

The Permian Faces An Empty Pipeline Crisis

U.S. shale was arguably the…

Energy / Crude Oil

The $7 Trillion Reason Saudi Arabia Is Cutting Oil Production

Apr 09, 2021 at 16:33 | Alex Kimani

Strict production discipline by OPEC and its partners is the #1 reason why oil prices have managed to stage a remarkable recovery and stay relatively high after plunging…

Eni’s Latest Oil Discovery Could Be Big For Angola

Apr 09, 2021 at 16:20 | Felicity Bradstock

Italian firm Eni has made a new light oil discovery off the coast of Angola after exploration activities recommenced following a year of pandemic restrictions.  The…

Iran Could Soon Officially Return 2 Million Bpd Of Oil To Global Markets

Apr 09, 2021 at 10:06 | Irina Slav

Iranian crude could return to global markets sooner rather than later as this week’s start of negotiations between Tehran and the five world powers that, together with the U.S. signed…

Many Drilled U.S. Wells Will Never Be Completed

Apr 08, 2021 at 17:01 | Julianne Geiger

Fracking crews are increasing their activity in U.S. shale basins, finishing off a slew of DUC wells, according to the EIA’s latest Monthly Drilling Report. As oil and gas companies…

UAE’s Oil Giant Looks To List Drilling Business In Local IPO

Apr 08, 2021 at 16:07 | Charles Kennedy

Abu Dhabi National Oil Company (ADNOC) is talking to banks about the potential listing of its oil drilling unit on the local stock exchange, Reuters reported on Thursday, quoting…

Southeast Asia Looks To Increase Offshore Oil Production

Apr 08, 2021 at 15:51 | Felicity Bradstock

Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries. The governments…

India Looks To Buy More Iranian Oil As Spat With Saudis Escalates

Apr 08, 2021 at 09:08 | Julianne Geiger

India is at the ready to purchase more Iranian oil immediately if U.S. sanctions on Iran are lifted, a government official has threatened in the latest escalation of the India-Saudi…

Optimism Grows Over Oil Demand Recovery

Apr 07, 2021 at 14:29 | Felicity Bradstock

OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production. 

Optimism Returns To Canada's Oil Industry

Apr 07, 2021 at 10:03 | Charles Kennedy

Optimism is returning to the Canadian oil industry as demand rebounds and production follows, Bloomberg has reported, citing the chief of the Canadian Association of Petroleum Producers. "There's no…

Rising Fuel Stocks Push Oil Prices Lower

Apr 07, 2021 at 09:43 | Irina Slav

Crude oil prices fell on Wednesday after the Energy Information Administration reported a crude oil inventory draw of 3.5 million barrels for the week to April 2 along with…

UAE Presents Phenomenal Plan To Boost Its Position As Oil Hub

Apr 06, 2021 at 17:50 | Simon Watkins

Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s…

Iran’s Comeback To Oil Markets Unlikely To Cause Price Crash

Apr 06, 2021 at 17:49 | Alex Kimani

Oil investors now have to contend with another wildcard: Iran soon returning to the oil markets. After a three-year layoff, Iran could be poised to officially rejoin the ranks of…

Goldman Sachs: Return Of Iranian Oil Won't Shock Markets

Apr 06, 2021 at 11:19 | Tsvetana Paraskova

Iranian oil potentially returning legitimately to the market will not be a shock and a complete return will not take place at least until the summer of next year, Goldman…

OPEC Meeting: Saudis Look To Unwind Unilateral Output Cuts

Apr 01, 2021 at 10:58 | Tsvetana Paraskova

Oil prices gave up earlier gains and turned lower as of 11:39 a.m. EDT on Thursday, after reports emerged that Saudi Arabia was offering to gradually ease its additional unilateral…

Oil Prices Rise After OPEC+ Agrees To Gradually Increase Output This Summer

Apr 01, 2021 at 10:23 | Tsvetana Paraskova

The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how…

OPEC’s Production Rises In March As Iran Boosts Output

Mar 31, 2021 at 11:00 | Tsvetana Paraskova

A large increase in Iranian oil production pushed overall OPEC oil output higher in March compared to February, the monthly Reuters survey found on Wednesday, suggesting that higher supply…

OPEC+ Sees Slower Oil Demand Recovery Amid New Lockdowns

Mar 31, 2021 at 09:27 | Tsvetana Paraskova

An OPEC+ panel advising the group has revised down its global oil demand forecast for 2021 by 300,000 barrels per day (bpd) in light of the renewed lockdowns in Europe…

China Set To Buy 1 Million Bpd Of 'Cheap' Iranian Crude This Month

Mar 30, 2021 at 11:09 | Irina Slav

China’s crude oil imports from Iran this month could reach close to 1 million bpd, Reuters reported today, citing trading and analyst sources. That would be almost half the…

Saudi Arabia Ready To Extend Huge Oil Cuts Into June

Mar 30, 2021 at 09:00 | Irina Slav

Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed…

Why The World’s Largest Oil Company Won't Cut Dividends

Mar 29, 2021 at 17:34 | Simon Watkins

Despite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders…

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