Per the latest weekly data…
The US achieved record-breaking oil…
With oil prices at multi-week highs thanks to reports from OPEC and demand outlook, some more good news is always appreciated but the EIA has refused to play along,
The members of OPEC are quietly beginning to plan an eventual tapering-off of production cuts, even as the group plans a nine-month extension of the cuts to the end…
BP’s Alaska unit had at least 27 serious safety incidents this year, raising concerns that the oil major has not corrected course after the Deepwater Horizon explosion and oil spill.…
Lots going on in oil and gas this week. With three ripples in different parts of the world potentially suggesting waves of new opportunity coming for project developers. First, in…
Aramco’s 5 percent IPO—the world’s largest ever—continues to make headlines. Some analysts claim that the IPO is in danger of failing. Other sources report that the company is considering a…
When crude oil demand will peak is anyone’s guess. Forecasts vary widely. Wood Mackenzie says that peak demand is “very real,” and sees a decline of 4 million bpd between 2020…
Last quarter, offshore drilling rig companies retired more rigs than ever before in a three-month period, according to one energy advisory firm. Embattled Transocean is sending six floating rigs…
Together, Russia and Saudi Arabia produce a fourth of the world’s oil. The laws of competitive international commodity trading have pit the two petrostates on opposite poles of the…
Neither sanctions nor persistently low oil prices are hindering Russia’s ambitions or plans to develop oil resources in its sections of the Arctic. In April, state-controlled oil giant Rosneft
At its November 30 meeting, OPEC will seek to discuss making its current partnership with non-OPEC producers permanent, OPEC’s Secretary General Mohammad Barkindo told reporters at the Oil &…
United States President Donald Trump’s decision to “decertify” the Iran nuclear deal probably won’t have an immediate impact on oil prices, but the decision could plant the seeds of problems…
Encouraged by recently opened areas and potentially huge yet-to-be-discovered resources, oil companies launched a record exploration drilling campaign in Norway’s Barents Sea this year. But as the summer and the…
A day after API’s estimate of a 7.13-million-barrel draw in U.S. oil inventories led benchmark prices higher, the EIA added to bullishness by reporting inventory figures largely in…
While the Kurdistan-Iraq standoff is a risk to shorter-term oil production, the increased tensions between neighboring Iran and the U.S. are a longer-term and bigger threat to global oil…
In what could be a humiliating decision, Saudi Aramco is considering not staging an IPO next year as planned, due to the difficulty of pulling off an international listing.…
OPEC and its partners may not need to extend the November 2016 crude oil production cut agreement beyond its March 2018 deadline if everyone fully complies with their quotas, Kuwait’s…
This year the U.S. has averaged more than 900,000 barrels per day (BPD) of crude oil exports while continuing to import an average of 8.1 million BPD. In the previous article,…
Another oil pipeline in Canada bites the dust. TransCanada announced last week that it would scrap its plans to build a 2,800-mile major pipeline that would traverse nearly the entire…
Oil giant Saudi Aramco is thinking about reneging on its much talked about plans to publicly list a 5% stake in the company, Financial Times sources said on Friday.…
EIA today reported a 2.8-million-barrel draw in U.S. crude oil inventories for the week to October 6, lifting market spirits further amid higher oil demand growth projections from OPEC…