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Energy / Crude Oil

30% Of U.S. Shale Drillers Could Go Under

Jun 26, 2020 at 17:26 | Irina Slav

U.S. shale was one of the big losers of the Saudi-Russian price war that many saw as a war on U.S. shale. Producers scrambled to stay afloat as…

Has The Rig Count Collapse Finally Bottomed Out?

Jun 26, 2020 at 12:25 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 1, to 265, suggesting that while the number of…

U.S. Oil Drillers Break Production Records Despite Having Fewer Rigs

Jun 26, 2020 at 09:55 | Julianne Geiger

The number of active oil and gas rigs in the United States may have fallen in 2019, but oil and gas producers in the United States are still breaking records,…

U.S. Gulf Coast Crude Oil Gets Its Own Benchmark

Jun 26, 2020 at 09:06 | Irina Slav

Platts, Argus Launch New Benchmarks for U.S. Crude for Export U.S. Gulf Coast to get its Own Oil Benchmark U.S. Gulf Coast Crude Gets Its Own Oil BenchmarkPlatts, Argus…

Oil Market Optimism Is Entirely Misplaced

Jun 25, 2020 at 17:10 | Cyril Widdershoven

Optimism is supposedly back in oil markets, with the Global Research team at Bank of America lifting its oil price forecast for this year and next as demand…

Inside Singapore's $3 Billion Oil Trading Scandal

Jun 25, 2020 at 17:08 | Alex Kimani

Back in April, Reuters reported that fabled Singapore oil trading firm, Hin Leong Trading (Pte) Ltd, had been caught with its hand in the cookie…

Oil Crash Could Cost This Shale Giant Up To $9 Billion In Impairment Charges

Jun 25, 2020 at 11:02 | Tsvetana Paraskova

Occidental Petroleum expects to book after-tax impairments of up to US$9 billion of its oil and gas assets in the second quarter due to the collapse in oil prices earlier…

Russian Banks To Finance 200,000 Bpd In New Oil Production Capacity

Jun 25, 2020 at 10:00 | Irina Slav

At least two Russian banks are lending some $6 billion to the oil industry to drill new wells that could add 200,000 bpd to the country’s production quickly, unnamed sources…

Saudi Arabia’s Oil Price War Cost The Kingdom $12 Billion In One Month

Jun 25, 2020 at 09:10 | Tsvetana Paraskova

Despite record oil exports in April as Saudi Arabia flooded the market with excess oil, the value of the Kingdom’s crude exports plunged by US$12 billion from April 2019 levels…

Higher Oil Prices Ease Shale Panic, But Challenges Remain For Texas

Jun 24, 2020 at 16:30 | Nick Cunningham

It will take years before U.S. shale production approaches pre-pandemic levels, if it ever does, according to an array of experts. Bloomberg surveyed…

U.S. Shale Could Take Years To Recover From The Oil Price Crash

Jun 24, 2020 at 13:38 | Tsvetana Paraskova

U.S. oil production will probably take more than two and a half years to return to its record 13 million barrels per day (bpd) production from February, because companies don’t…

The Oil & Gas Stocks That Are Still Worth Buying In 2020

Jun 24, 2020 at 13:14 | Tsvetana Paraskova

The oil price collapse and a global drive toward sustainable investing have scared many investors away from oil and gas stocks.   However, analysts believe…

North Dakota Oil Income Crashes By 81%

Jun 24, 2020 at 10:37 | Irina Slav

North Dakota has suffered an 81-percent decline in oil and gas revenues in April amid the coronavirus pandemic that forced producers in one of…

Oil Prices Slide As EIA Confirms Crude Inventory Build

Jun 24, 2020 at 09:49 | Irina Slav

The Energy Information Administration reported a 1.4-million-barrel increase in crude oil inventories for the week to June 19, with fuel inventories booking mixed results. This compares with an inventory…

Oil Falls Below $40 On Fears Of Rising Crude Stocks

Jun 24, 2020 at 09:06 | Tsvetana Paraskova

Oil prices dropped early on Wednesday, with WTI Crude sliding below $40 a barrel, after the API reported a larger-than-expected crude inventory build on…

China’s Oil Industry Is In Crisis

Jun 22, 2020 at 11:11 | Tsvetana Paraskova

Another Chinese oil firm has defaulted on a dollar-denominated bond, bringing the total value of defaults in all sectors of China’s offshore bond market…

What’s Holding Back A Full Recovery In Oil Demand

Jun 19, 2020 at 17:16 | Tsvetana Paraskova

Since oil demand started crashing amid lockdowns to contain the coronavirus, analysts have been trying to predict when demand will return to the pre-crisis levels, throwing in V,…

The Oil Nation Aiming To Emulate Guyana's Success

Jun 19, 2020 at 17:11 | Viktor Katona

Paths to economic development might vary, ranging all the way from ruthless dictatorships hewing their way with an iron fist to established democracies laboring towards the well-being of…

Rig Count Plunges For The Fifteenth Straight Week

Jun 19, 2020 at 12:19 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 13, to 266, suggesting that the slide in the…

China Sees Tanker Traffic Soar As Oil Storage Runs Out

Jun 19, 2020 at 10:07 | Charles Kennedy

There is growing tanker congestion in the waters around Chinese oil ports as buyers rushed to take advantage of low oil prices in the past couple of months, but onshore…

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