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OPEC’s No.2 Steps In To Replace Lost Iranian Oil

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

Iraq, OPEC’s no.2 oil producer…

Putin: Russia Is Fine With $60 Oil

Putin: Russia Is Fine With $60 Oil

Russia doesn’t need oil prices…

Energy / Crude Oil

Small Crude Build Sends Oil Lower

Small Crude Build Sends Oil Lower

Jun 12, 2019 at 09:41 | Irina Slav

Crude oil price fell further today after the Energy Information Administration reported another build in inventories at 2.2 million barrels for the week to June 7. This compares…

This Overlooked Canadian Oil Niche Is Making Traders Billions

This Overlooked Canadian Oil Niche Is Making Traders Billions

Jun 11, 2019 at 12:00 | Haley Zaremba

Canada’s oil industry continues to face major pipeline bottlenecks as production far outpaces transport capacity, a persistent issue that has led to significantly decreased oil prices and a major loss…

BP: Petrochemicals Drive U.S. Oil Demand Boom

BP: Petrochemicals Drive U.S. Oil Demand Boom

Jun 11, 2019 at 11:05 | Tsvetana Paraskova

The United States saw its crude oil and liquids demand jump in 2018 at its fastest pace in over a decade on the back of growing petrochemical plant capacity that…

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

OPEC’s No.2 Steps In To Replace Lost Iranian Oil

Jun 10, 2019 at 13:33 | Irina Slav

U.S. sanctions on Iran’s oil industry were bound to be good news for fellow OPEC producers in the Middle East even if it wouldn’t have been good manners to acknowledge…

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

Platts: OPEC Oil Production Slumps With Saudis Cutting Deeper

Jun 10, 2019 at 09:23 | Tsvetana Paraskova

OPEC’s oil production dropped by 170,000 bpd from April to 30.09 million bpd in May—the lowest level since February 2015, as Saudi Arabia cut its oil output even deeper despite…

Saudis: OPEC Close To Extending Output Cut Deal

Saudis: OPEC Close To Extending Output Cut Deal

Jun 07, 2019 at 09:20 | Tsvetana Paraskova

OPEC is close to reaching an agreement to extend the production cut deal beyond its current expiry date at the end of June, Khalid al-Falih, the energy minister of OPEC’s…

Oil Industry Banks On Shaky Plastic Bet

Oil Industry Banks On Shaky Plastic Bet

Jun 06, 2019 at 17:09 | Nick Cunningham

Even as oil demand is beginning to weaken this year due to a brewing economic slowdown, the oil industry faces a longer-term threat to oil demand as bans on plastic…

U.S. Gulf Coast Oil Imports Hit 33-Year Low

U.S. Gulf Coast Oil Imports Hit 33-Year Low

Jun 06, 2019 at 16:03 | Tsvetana Paraskova

The U.S. Gulf Coast saw its crude oil imports in March at their lowest level since 1986, as rising domestic production and falling imports from OPEC including Venezuela have started…

U.S. Total Oil Output Poised To Set New 2019 Record

U.S. Total Oil Output Poised To Set New 2019 Record

Jun 06, 2019 at 13:18 | Rystad Energy

US oil production keeps accelerating towards new highs. New records are expected both when the final numbers for May emerge and at the end of the year. Rystad Energy is…

Putin: Russia Is Fine With $60 Oil

Putin: Russia Is Fine With $60 Oil

Jun 06, 2019 at 11:52 | Tsvetana Paraskova

Russia doesn’t need oil prices to be too high and sees the $60-65 a barrel price—the price at which Brent Crude currently trades—as “quite satisfactory,” Russian President Vladimir Putin…


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