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$80 Oil Is Too Enticing For U.S. Drillers To Ignore

$80 Oil Is Too Enticing For U.S. Drillers To Ignore

Consistently higher oil prices have…

Energy / Crude Oil

Activists Demand An Immediate End To Oil Production

Dec 30, 2021 at 09:13 | Irina Slav

Europe may be in the grips of an energy shortage and forced to reopen retired coal plants to cope but climate activists insist that it is time to…

U.S. Oil Industry Warns Of Sharply Higher Costs

Dec 30, 2021 at 08:45 | Irina Slav

The U.S. oil industry is facing a sharp increase in production costs, the Dallas Fed energy survey’s latest edition has revealed. The survey found that while activity in the…

How Biden’s Energy Agenda Could Send Oil To $100

Dec 29, 2021 at 15:08 | Julianne Geiger

Some in the oil industry fear that oil prices may again return to the $100 mark, with President Joe Biden’s anti-fossil fuel stance and aggressive green agenda threatening…

3 North American Stocks To Capitalize On Higher Oil Prices

Dec 29, 2021 at 11:59 | Alex Kimani

The energy sector is increasingly looking to end the year on a high note after U.S. crude oil managed to overcome an early…

Oil Perks Up With Another Crude Inventory Draw

Dec 29, 2021 at 09:42 | Julianne Geiger

Crude oil prices recovered on Wednesday morning despite word from the Energy Information Administration of an inventory draw of 3.6 million barrels for the week to December 24. At 420…

Here’s Why OPEC+ Didn’t Respond To U.S. Calls For More Oil

Dec 29, 2021 at 09:04 | Irina Slav

An ambition to provide the global oil market with clear guidance on future production plans and discipline in sticking to already agreed policies is the reason OPEC+ did not respond…

Global Oil Demand Could Reach New Heights In 2022

Dec 28, 2021 at 09:08 | Irina Slav

Oil demand suffered a severe blow last year when the initially ignored coronavirus in China spread around the world and started prompting lockdowns. Then the wave receded, and…

A Look At Big Oil’s Spending Plans For 2022

Dec 27, 2021 at 11:49 | Tsvetana Paraskova

The global upstream sector is set for a rebound next year, when overall investment in exploration and production is expected to exceed $400 billion for the first time…

Saudi Exports Surge On Higher Oil Prices

Dec 27, 2021 at 07:57 | Irina Slav

Saudi exports surged in October on the back of higher oil prices, which hit a 2021 peak during that month. Saudi Arabia exported goods and commodities worth a total $28…

Cocaine, Guns And Gushers: Colombia’s Oil Industry Struggles To Reactivate

Dec 24, 2021 at 08:08 | Matthew Smith

Despite the groundbreaking 2016 peace deal between the Colombian government and the largest guerilla group the Revolutionary Armed Forces of Colombia (FARC – Spanish initials) there are fears…

Southeast Asia’s Oil And Gas Output May Never Recover To Pre-COVID Levels

Dec 24, 2021 at 08:00 | Rystad Energy

The Covid-19 pandemic has marked the end of an era for Southeast Asia’s combined oil and gas production, pushing the region’s output in 2021 to below 5 million…

South Korea To Release 3 Million Barrels Of Oil Reserves In Early 2022

Dec 23, 2021 at 10:06 | Tsvetana Paraskova

South Korea will release 3.17 million barrels of its oil reserves in the first quarter of 2022 as part of the U.S.-led global effort by major oil-consuming nations to lower…

Oil Prices Jumps On Large Crude Draw As Markets Ignore Gasoline Build

Dec 22, 2021 at 09:42 | Julianne Geiger

Crude oil prices recovered on Wednesday morning despite word from the Energy Information Administration of an inventory draw of 4.7 million barrels for the week to December 17. At 423.6…

Colombia May Lose Energy Independence As Crude Production Falls

Dec 21, 2021 at 12:17 | Rystad Energy

Colombia, Latin America’s third-largest oil producer after Brazil and Mexico, is in danger of losing its energy self-sufficiency and a significant part of its gross domestic product (GDP)…

Global Oil And Gas Discoveries Set To Hit 75-Year Low In 2021

Dec 21, 2021 at 09:38 | Rystad Energy

Global oil and gas discoveries in 2021 are on track to hit their lowest full-year level in 75 years should the remainder of December fail to yield any…

U.S. Gasoline And Crude Oil Prices Slide Before The Holidays

Dec 20, 2021 at 10:08 | Julianne Geiger

U.S. gasoline prices have fallen for the sixth week in a row, falling 2.9 cents from a week ago, according to a Gas Buddy report published Monday. A gallon of…

Libya Once Again Tries To Boost Oil Production

Dec 20, 2021 at 09:04 | Irina Slav

Libya is considering a reward-and-penalties system for oil companies in order to motivate them to meet production targets. Per a report by Bloomberg, the plan includes introducing new contracts…

No One Knows What’s Next For Oil Demand

Dec 16, 2021 at 15:31 | Irina Slav

The last two weeks saw three major energy organizations release their outlooks for the immediate future of oil demand. While sometimes these outlooks largely align in their projections…

China Draws From Stockpiles Again As Refiners Demand More Crude

Dec 16, 2021 at 13:05 | Tsvetana Paraskova

Driven by high refinery throughput, China likely drew crude oil from its commercial and strategic inventories in November, according to estimates from Reuters columnist Clyde Russell. Chinese crude imports…

Jet Fuel Continues To Hold Back Crude Demand Recovery

Dec 16, 2021 at 10:38 | Tsvetana Paraskova

Global demand for oil products other than jet fuel made a full recovery to pre-crisis levels in the third quarter of this year, thanks to the strong recovery of oil…

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