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Breaking News:

Oil Soars 5% As Bullish News Mounts

Rising Fuel Stocks Push Oil Prices Lower

Rising Fuel Stocks Push Oil Prices Lower

WTI prices fell slightly on…

Energy / Crude Oil

Saudi Arabia Boosted Crude Oil Exports In January

Mar 19, 2021 at 09:02 | Tsvetana Paraskova

The world’s largest oil exporter, Saudi Arabia, increased its crude oil exports to 6.582 million barrels per day (bpd) in January 2021, up from 6.495 million bpd in December 2020,…

Oil Traders Made A Killing Last Year

Mar 18, 2021 at 18:06 | Alex Kimani

Retail investors with long positions in crude oil markets had to endure one of the most volatile years on record in 2020 thanks to the Saudi-Russia oil price war, oil…

Heavy-Handed Government Intervention To Hurt Brazil’s Oil Boom

Mar 18, 2021 at 16:55 | Matthew Smith

A spat over fuel prices last month saw Brazil’s President Jair Bolsonaro replace the CEO of national oil company Petrobras Roberto Castello Branco, who is popular among investors with…

India Throws The Oil Tanker Industry A Lifeline

Mar 18, 2021 at 15:08 | Tsvetana Paraskova

India’s growing demand for oil and its plans to rely less on crude from its biggest supply region, the Middle East, is set to support demand for oil tankers traveling…

IEA: Asia To Account For 90% Of Global Oil Demand Growth Through 2025

Mar 18, 2021 at 14:02 | Felicity Bradstock

Despite speculation that oil demand peaked in 2019, before the global pandemic hit the industry hard, a new IEA report suggests this assumption may have been overstated as…

Rarely-Used Recovery Method Could Unlock Billions Of Barrels In Alaska

Mar 18, 2021 at 13:07 | Tsvetana Paraskova

Early findings in an ongoing four-year study of enhanced oil recovery of heavy oil in Alaska’s North Slope have shown promising results that could potentially unlock billions of barrels of…

Exxon's Flagship Guyana Project Reaches Full Capacity

Mar 18, 2021 at 12:03 | Tsvetana Paraskova

The Liza Phase 1 offshore project—Guyana’s first oil-producing project led by ExxonMobil—has reached its full planned production capacity of some 130,000 barrels per day (bpd), Guyana’s President Irfaan Ali…

Big Oil’s Hottest Prospects In 2021

Mar 17, 2021 at 17:57 | Viktor Katona

Judging by the first 3 months of 2021 it seems that this year has gone off into a wrong start, instead of economic rebounds we face a third rendition of…

U.S. Consumers Will Pay The Bill For Higher Crude Prices

Mar 17, 2021 at 17:27 | Haley Zaremba

Oil producers around the world are sticking to their guns and keeping oil production capped even as oil prices continue to rise. Historically, the highly cyclical and predictable…

Will Libya Crush OPEC’s Plans For A Tighter Oil Market?

Mar 17, 2021 at 15:21 | Irina Slav

Libya has a unified government for the first time in more than a decade of civil war. It is also pumping 1.3 million barrels of oil daily and plans to…

Cautious Refiners May Deal Major Blow To Oil Tanker Market

Mar 17, 2021 at 14:01 | Tsvetana Paraskova

U.S. gasoline demand has rebounded to nearly pre-pandemic levels, but after a horrendous 2020, American refiners are looking to cut costs wherever and whenever possible in light of the still-sluggish…

China Can’t Resist Iran’s Cheap Oil

Mar 17, 2021 at 12:48 | Vanand Meliksetian

The source of Iran’s relative independence in international affairs can be attributed to its oil and gas wealth. The country’s massive oil resources have contributed to a steady source of…

Oil Drops As IEA Dashes Hopes Of Supercycle

Mar 17, 2021 at 10:59 | Tsvetana Paraskova

Oil prices erased earlier gains and traded lower on Wednesday morning, following an estimate by the International Energy Agency (IEA) that no supercycle for oil is around the corner amid…

Oil Prices Inch Lower As Crude Inventories Continue To Build

Mar 17, 2021 at 09:39 | Irina Slav

The Energy Information Administration reported a crude oil inventory build of 2.4 million barrels for the week to March 12, up/down from a build of 13.8 million barrels the…

Oil Rally Stalls As Oversupply Threat Grows

Mar 16, 2021 at 16:10 | Yousef Alshammari

Following the price rally seen last week, oil prices have retreated to slightly lower levels, below $70 (Brent) and $64 (WTI). The main drivers of this correction have…

Permian Production Set To Rise Despite Shale Decline

Mar 16, 2021 at 12:04 | Tsvetana Paraskova

Oil production from the seven largest U.S. shale regions is set to decline by 46,000 barrels per day (bpd) in April, but output in the biggest and most prolific basin,…

UK Considers Ban On New Offshore Oil Licenses

Mar 15, 2021 at 13:03 | Tsvetana Paraskova

The UK is exploring the option to ban new offshore oil and gas exploration licenses in what could be a radical move away from fossil fuels and part of the…

Another Investment Bank Is Betting On $100 Oil

Mar 15, 2021 at 09:18 | Irina Slav

Crude oil could hit $100 and top it, and this could happen before this year’s end, according to Craig Johnson from investment bank Piper Sandler. Speaking to CNBC, Johnson said,…

Argentina’s Shale Patch Is Poised For A Comeback

Mar 11, 2021 at 16:56 | Matthew Smith

After a harsh 2020 and slow post-pandemic recovery Argentina’s hydrocarbon sector has come roaring back to life. A combination of substantially higher oil prices, government subsidies, favorable legislation…

China Splurges On Iranian Oil Despite U.S. Sanctions

Mar 11, 2021 at 14:43 | Tsvetana Paraskova

Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based,…

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