Per the latest weekly data…
The U.S. upped the ante…
Since the Iraqi army drove out Islamic State forces from the oil-rich towns of Shargat and Qayyarah last month, ISIS has lost its ability to produce oil and profit…
Mexico and Canada have been waging a silent battle for market share in the U.S. crude oil refining market. Since 2006, crude oil exports from Canada and Mexico to the…
Fears of a possible default by Venezuela’s cash-strapped oil company PDVSA have mounted in recent weeks, but can now rest easy, after Venezuela managed to get credit holders to agree…
In the latest turn of events regarding OPEC’s plan to cut production, Iraq said on Sunday that it should be exempted from output cuts because of the war it…
Ayatollah Ali Khamenei, Iran’s Supreme Leader, accused unnamed OPEC members of using oil as a weapon to the benefit of the U.S. The accusations were leveled via Twitter, following…
This week’s oil prices put the industry at a value of $1.7 trillion – almost three times larger than the $660 billion in revenues generated from all major raw metals…
''Come writers and criticsWho prophesize with your penAnd keep your eyes wideThe chance won’t come again.'' Nobel Prize winner Bob Dylan must have been an…
The oil bust, today’s volatile market and relentless OPEC chatter, it’s easy to lose sight of the fact that the oil market—even at current valuations—is somewhere near the $1.7 trillion…
Russia could boost its already record-high crude oil production by another 4 million barrels daily, said Rosneft’s head Igor Sechin. Sechin, speaking at the 5th Eurasian forum in Verona,…
With oil prices potentially set to stay low for years to come, the future of deepwater drilling is very much up in the air. The world’s top oil executives have…
“Many countries” outside OPEC are willing to join the negotiations on a crude oil production reduction initiated by the cartel last month. That’s what Saudi Arabia’s oil minister Khalid al-Falih…
As we reported last week, just as OPEC announced a new monthly production record, with total output rising by 220kbpd to a record 33.4mmbpd...
Saudi Arabia pumped a daily average of 10.63 million barrels of crude in August, a 400,000 bpd decline on peak production in July, prompted by seasonally high demand. Exports…
It has been ten months since the international community lifted sanctions against Iran’s oil and gas sector, paving the way for the country to rebuild its lost production capacity and…
Offshore exploration has been a rare bright spot for the global oil and gas industry lately. Some of the movement in the offshore sector is coming as governments get more…
Oil prices fell back to $50 on Friday afternoon, after the U.S. rig count hit eight year highs.
Despite OPEC’s best efforts, shale boomers are still alive and kicking—at least some of them. More precisely, those that came first, chose the best acreage, and had the farsightedness needed…
The Energy Information Administration tipped markets towards bear territory when it reported that U.S. crude oil inventories had jumped by 4.9 million barrels in the week to October 7.…
The latest 3D seismic surveys suggest that there may be billions of barrels of undiscovered oil in the Barents Sea, according to a geology and geophysics expert in an…
In the 1990s, the California-based Unocal Corporation invited a delegation from the Afghan Taliban to their headquarters in Sugar Land, Texas, to discuss prospects for constructing a 1700-kilometer Peace Pipeline,…