• 3 minutes e-car sales collapse
  • 7 minutes Energy Armageddon
  • 11 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 8 hours Cummins showcases 15L fuel-agnostic engine platform; hydrogen, diesel, biogas 16 March 2023
  • 11 hours America Is Exceptional in Its Political Divide
  • 5 days Gazprom and Rosneft super result
  • 21 days How Many Wells From 1 Onshore Rig?
China’s Economic Upswing May Not Boost Oil Prices

China’s Economic Upswing May Not Boost Oil Prices

Forecasters are positive about crude…

Energy / Crude Oil

EIA Inventory Reports: A Key Tool For Analyzing Energy Markets

Mar 01, 2023 at 09:56 | Michael Kern

The Energy Information Administration (EIA) is an independent agency within the U.S. Department of Energy that provides data and analysis on energy production, consumption, and prices.  One of its most…

Oil Rebounds On Smaller Than Expected Crude Build

Mar 01, 2023 at 09:47 | Irina Slav

Crude oil prices gained slightly after the Energy Information Administration confirmed the API’s estimate of an inventory build for the week to February 25. Crude oil inventories added 1.2…

Oil Trade Is Moving Away From Europe

Feb 28, 2023 at 13:17 | Alex Kimani

Oil is the largest commodity in the world, with the global crude oil market in 2022 estimated at $2.7 trillion. This trade is facilitated by both public and…

OPEC’s February Oil Production Jumped By 150,000 Bpd

Feb 28, 2023 at 09:59 | Julianne Geiger

OPEC’s crude oil production for February was, on average, 150,000 bpd more than it was in January, a Reuters survey found on Tuesday.  OPEC’s February crude…

How U.S. Shale Changed The Face Of Global Politics

Feb 28, 2023 at 09:06 | Michael Kern

In the early 2000s, a revolution was unfolding in the energy industry. Technological advancements in horizontal drilling and hydraulic fracturing had unlocked vast reserves of oil and natural gas trapped…

BP Boss Defends Oil And Gas Spending

Feb 28, 2023 at 08:05 | City A.M

BP boss Bernard Looney today called for an “orderly” transition to renewable energy, which will require investment in both future green energy projects and “today’s energy system, which…

Record Profit Season Is Over For U.S. Shale

Feb 27, 2023 at 17:35 | Irina Slav

Record profits – that would be the best summary of the state of the global oil industry last year. From Big Oil majors to U.S. shale…

Suriname's Oil Boom May Not Materialize Until 2027

Feb 24, 2023 at 14:51 | Matthew Smith

By late 2022 there were considerable concerns and doubts surrounding Suriname’s burgeoning offshore oil boom. Conflicting drilling results and seismic data saw 50% partners in Block 58…

Is The Price Cap On Russian Crude Working?

Feb 24, 2023 at 10:41 | Tsvetana Paraskova

The price caps on Russian crude oil and refined products appear to be working, analysts and U.S. officials say.   Russian crude is still flowing to the…

From Zero-Covid To Energy Demand Explosion: The Impact Of China’s Reopening

Feb 24, 2023 at 10:24 | Felicity Bradstock

China has reopened its doors following its long zero-Covid policy. But now governments and energy firms around the world are waiting to see what this means both for the energy…

Venezuelan Oil Production Has Plummeted By 75% In Ten Years

Feb 24, 2023 at 10:06 | Robert Rapier

According to the 2022 BP Statistical Review of World Energy, Venezuela has more proved oil reserves than any other country in the…

Iraq Announces String Of Deals To Boost Oil And Gas Output

Feb 24, 2023 at 09:56 | Charles Kennedy

Iraq has been saying it wants to produce more oil and gas for a while now but turning stated ambitions into reality has taken a while.

Pioneer CEO Sees $100 Oil By End Of Year

Feb 23, 2023 at 16:42 | Julianne Geiger

Brent crude oil will be around $100 per barrel by the end of the year, Pioneer CEO Scott Sheffield has predicted. Oil has been rangebound over the…

Why Is China Buying Up So Much U.S. Oil?

Feb 23, 2023 at 08:37 | ZeroHedge

One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as…

The World’s Best Oil Reserves May Shrink Because Of Tight Emissions Rules

Feb 22, 2023 at 09:30 | Irina Slav

Oil demand this year could reach a record high, and there may not be enough oil to cover this demand for much longer. This seems to be the gist of…

Biden Thinks Oil Will Be Around For A Decade—It’ll Be Much Longer

Feb 21, 2023 at 15:28 | Tsvetana Paraskova

The United States will need oil production for at least another decade, President Joe Biden said in his State of the Union address earlier this month. 

China Wants Even Better Terms For Crucial Iran Oil Project

Feb 21, 2023 at 13:16 | Simon Watkins

The ramping up of crude oil production from Iran’s extremely oil-rich West Karoun fields – including, most notably, North and South Azadegan, North and South Yaran, and Yadavaran - to…

Oil Rig Count Dips As WTI Falls To $75

Feb 17, 2023 at 12:08 | Julianne Geiger

The total number of total active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published on Friday. The total rig…

Azerbaijan Restarts Oil Exports As Demand In Europe Soars

Feb 17, 2023 at 08:47 | Eurasianet

Azerbaijan's crude oil exports through the Baku-Tbilisi-Ceyhan (BTC) oil pipeline restarted after a six-day halt due to the devastating earthquakes in southern Turkey…

China’s Crude Oil Imports Expected To Hit A Record High In 2023

Feb 17, 2023 at 08:40 | Charles Hugh Smith

The Chinese reopening and new refineries coming online are set to raise the crude oil imports in the world’s top importer to a record-high this year, industry consultants told

Oilprice - The No. 1 Source for Oil & Energy News