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Energy / Crude Oil

OPEC’s Production Rises In August

Sep 12, 2023 at 08:01 | Julianne Geiger

OPEC’s crude oil production was 27.45 million barrels per day in August, according to the group’s latest Monthly Oil Market Report (MOMR) published on Tuesday. A gain of an average…

At What Level Will Saudi Arabia And Russia Stop Pushing Oil Prices Higher?

Sep 11, 2023 at 08:59 | Simon Watkins

The decisions last week by Saudi Arabia to continue its 1 million barrel per day (bpd) production cut to the end of this year and by Russia to…

Guyana's Oil Boom Challenges OPEC+ Dominance

Sep 08, 2023 at 10:59 | Matthew Smith

In a mere four years, Guyana went from first discovery to first oil, a rapid timeframe in an industry where it can take years to bring major energy…

Vaca Muerta Oil Boom Could Change Argentina's Economic Landscape

Sep 08, 2023 at 10:49 | Matthew Smith

In a surprise development, there are indications that the economically strife-torn country of Argentina will emerge as a major regional energy player. The exploitation of the 7.5 million Vaca Muerta…

Supertanker Stocks Ride The Waves Of Volatile Oil Market

Sep 08, 2023 at 08:29 | Alex Kimani

The global ocean shipping sector is one of the most volatile in the oil and gas business. Back in June, we reported that commodity shipping stocks had gone on a…

Large Crude Draw Lifts Oil Prices

Sep 07, 2023 at 10:07 | Irina Slav

Crude oil prices ticked up today, after the U.S. Energy Information Administration reported an inventory draw of 6.3 million barrels for the week to September 1. This compared…

The Case For China’s Future Oil Demand

Sep 06, 2023 at 15:58 | Irina Slav

China has been the focus of attention for oil traders and industry insiders for years now, and with a good reason. The world’s largest importer of crude is as important…

China’s Influence In Oil Markets Grows With BRICS Expansion

Sep 05, 2023 at 16:09 | Simon Watkins

Piece by piece, China continues to build alternatives to each of the key building blocks of the West’s world order, including - crucially - a new global oil…

What’s Behind The Surge In Investment In North Sea Oil And Gas?

Sep 05, 2023 at 08:18 | Rystad Energy

North Sea oil and gas industry blooms with increasing production and investments Norway And UK Overcome Challenges In North Sea Oil Investment Jump In North Sea Oil And…

The Tipping Point In Global Oil Demand

Sep 04, 2023 at 12:54 | Salman Ghouri

The oil industry is quite familiar with the concept of a “Peak Oil Supply,” but many find it hard to believe that there is another side of the…

Are China’s Economic Support Measures Too Little Too Late For Oil Prices?

Sep 04, 2023 at 08:58 | Simon Watkins

As the world’s largest annual gross crude oil importer in the world since 2017, and before that as the key driver of the broader commodities supercycle, China’s ongoing…

Oil Reaches New 2023 High

Sep 01, 2023 at 10:42 | Julianne Geiger

The per barrel price for the WTI grade of crude oil reached $85 on Friday—the highest price point yet this year as falling inventory levels spook the…

Saudi Arabia Reaps The Benefits Of Steepening Backwardation

Aug 31, 2023 at 08:56 | Gerald Jansen

Oil prices globally have been firmly above $80 per barrel, however, the market at large has kept surprisingly mum about the key factor in the price…

Brazil's Pre-Salt Oil Gains Unprecedented Global Popularity

Aug 31, 2023 at 08:15 | Matthew Smith

Despite financial markets being roiled by leftist Luiz Inácio Lula da Silva’s, known as Lula, October 2022 electoral victory, there are signs that Brazil’s president will continue to support the…

Guyana's Oil Boom Is Changing The Global Energy Landscape

Aug 31, 2023 at 07:48 | Felicity Bradstock

Since the discovery of 11 billion barrels of proven oil reserves offshore in 2015, Guyana’s oil industry has gone from strength to strength. The tiny Caribbean country has attracted billions…

U.S. Consumer Oil Demand Has Exceeded Expectations

Aug 30, 2023 at 14:47 | Alex Kimani

Earlier in the year, Wall Street was mostly bearish about the U.S. economic outlook with many warning of a looming recession. Not surprisingly, many oil punters expected oil demand to…

Oil Rises After EIA Confirms Major Crude Draw

Aug 30, 2023 at 09:36 | Irina Slav

Crude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory decline of 10.6 million barrels for the week to August 25. The estimate

Bloomberg Predicts Peak Oil Demand In 2027

Aug 30, 2023 at 08:20 | Alex Kimani

A couple of weeks ago, the International Energy Agency reported that global oil demand reached an all-time high of 103mn barrels a day in June. According to the global…

Spending Surge In U.S. Shale Won’t Last

Aug 29, 2023 at 14:56 | Irina Slav

Concern about a seismic change in the U.S. shale industry with shareholder returns prioritized over spending on production has plagued analyst and banker circles for over a year. Indeed, shale…

How Colombia's Booming Cocaine Business Is Driving Rampant Oil Theft

Aug 29, 2023 at 09:17 | Matthew Smith

Surging petroleum theft is weighing on Colombia’s beaten-down oil industry, which is beset by geopolitical headwinds on all sides. While attacks on energy infrastructure in the strife-torn…

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