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Breaking News:

Oil Prices Gain 2% on Tightening Supply

Energy / Crude Oil

How Fracking Helped the U.S. Become the World’s Top Oil Producer

Feb 12, 2024 at 08:06 | ZeroHedge

Over the last decade, the United States has established itself as the world’s top producer of crude oil, surpassing Saudi Arabia and Russia.…

Oil Markets Are Much Tighter Than Oil Prices Suggest

Feb 09, 2024 at 13:56 | Alex Kimani

Oil prices have continued trading in a narrow range in the new year with fears about weak fundamentals and the threat of a recession outweighing geopolitical risks. Last week, Commodity…

Exxon’s Guyana Oil Drilling Plans Anger Venezuela

Feb 09, 2024 at 13:52 | Tsvetana Paraskova

ExxonMobil’s drilling plans offshore Guyana have angered Venezuela and risk escalating the dispute between the two South American neighbors over Venezuela’s claim on a large part of Guyana’s oil-rich Essequibo…

U.S. Oil Drilling Activity Stalls

Feb 09, 2024 at 12:15 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count…

After Being Neutral for A While, I Now Have A View On Crude

Feb 09, 2024 at 11:18 | Editorial Dept

As most of you know, while I do invest in stocks in the energy space, and occasionally give you my opinion of individual security based on the research I do…

U.S. Merger Boom Could Slow Shale Production Growth

Feb 08, 2024 at 10:02 | Tsvetana Paraskova

Some private oil producers in the Permian will hit the brakes on output growth as they have been acquired by large publicly traded companies, which now value returns to shareholders…

Standard Chartered: Expect Very Little Growth In U.S. Oil Supply In 2024

Feb 08, 2024 at 09:06 | Alex Kimani

Last year, U.S. crude production surged to all-time high, blunting efforts by OPEC+ to keep global markets constrained, and Energy Intel has predicted that robust non-OPEC oil supply is 

Oil Jumps Despite Crude Inventory Build

Feb 07, 2024 at 09:34 | Irina Slav

Crude oil prices rose today shortly after the Energy Information Administration reported an inventory increase of 5.5 million barrels for the week to February 2. This compared with…

Unpacking the Complex Relationship Between Oil and Agriculture

Feb 07, 2024 at 08:11 | Haley Zaremba

If you’re wondering what factors influence the price of your weekly grocery bill, you’ll need to look a bit further than general inflation and corporate greed. Yes, those…

Traders Boost Bullish Bets on Oil

Feb 06, 2024 at 10:37 | Tsvetana Paraskova

Money managers have become increasingly bullish on crude oil amid the geopolitical tensions in the Middle East and growing confidence that the U.S. will successfully avoid a recession this year.…

Kurdistan Oil Flows Not Expected to Resume Anytime Soon

Feb 06, 2024 at 08:21 | Simon Watkins

Perhaps no subject in the complex world of global oil involves so many intricate moving parts as the extraordinary relationship between the Federal Government of Iraq (FGI), based in Baghdad,…

Europe Sours on Middle Eastern Crude Oil

Feb 05, 2024 at 14:02 | Irina Slav

European imports of crude oil from the Middle East are falling amid continued tension in the Red Sea off the coast of Yemen. Luckily, there is an alternative: the Atlantic…

U.S. And Iranian Attacks In The Middle East Threaten Major Oil Price Rises

Feb 05, 2024 at 08:57 | Simon Watkins

Until a few days ago, two key factors had kept oil prices down since the beginning of the Israel-Hamas War on 7 October 2023. The first was the exceptionally accomplished…

Saudi Arabia Signals a Shift in Oil Strategy

Feb 05, 2024 at 07:55 | Kurt Cobb

In 1943 President Franklin Roosevelt declared that "the defense of Saudi Arabia is vital to the defense of the United States." The reason: Ten years earlier the desert kingdom had…

Will U.S. Oil Boom Keep Booming?

Feb 02, 2024 at 10:35 | Irina Slav

When last October Hamas attacked Israel, oil prices jumped higher, as always happens when armed conflict breaks out in the Middle East. Just a week or so later, however, prices…

Saudi Won’t Boost Oil Production Capacity: Here’s Why

Feb 02, 2024 at 10:01 | Tsvetana Paraskova

Since Saudi Arabia’s announcement that it is scrapping plans to expand its oil production capacity by 1 million barrels per day (bpd), speculation has flourished about the reasons behind the…

Iraq Wants to Ditch the U.S. Dollar in Oil Trade

Feb 02, 2024 at 08:39 | ZeroHedge

Via The Cradle The Finance Committee in the Iraqi parliament made a statement on Wednesday calling for the sale of…

Robust Non-OPEC Oil Supply Might Cap Oil Prices

Feb 01, 2024 at 17:52 | Alex Kimani

Last year, global oil demand grew at a blistering pace with 2023 consumption exceeding the previous year’s by more than 2 million barrels per day. A number of energy agencies…

U.S. Refiners Should Brace for Trans Mountain Pipeline Launch

Feb 01, 2024 at 13:28 | Irina Slav

When Kinder Morgan first announced its plans to expand the capacity of the Trans Mountain oil pipeline from 300,000 bpd to 890,000 bpd, it probably thought it was another major…

The Paradox of Prosperity: Canada's Oil Sands Undermine Climate Pledges

Feb 01, 2024 at 08:51 | Felicity Bradstock

Despite embracing a green transition through the introduction of ambitious climate pledges, Canada continues to produce large quantities of highly polluting oil sands. Oil production has long contributed to Canada’s…

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