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Africa’s Most Interesting Untapped Oil Play

Africa’s Most Interesting Untapped Oil Play

Guinea Bissau’s Atum prospect is…

When Will Oil Demand Fully Recover?

When Will Oil Demand Fully Recover?

Oil consumption patterns are still…

Energy / Crude Oil

Southeast Asia Looks To Increase Offshore Oil Production

Apr 08, 2021 at 15:51 | Felicity Bradstock

Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries. The governments…

India Looks To Buy More Iranian Oil As Spat With Saudis Escalates

Apr 08, 2021 at 09:08 | Julianne Geiger

India is at the ready to purchase more Iranian oil immediately if U.S. sanctions on Iran are lifted, a government official has threatened in the latest escalation of the India-Saudi…

Optimism Grows Over Oil Demand Recovery

Apr 07, 2021 at 14:29 | Felicity Bradstock

OPEC and partners are betting on a significant boost in oil demand over the coming months as member states get ready to ramp up oil production. 

Optimism Returns To Canada's Oil Industry

Apr 07, 2021 at 10:03 | Charles Kennedy

Optimism is returning to the Canadian oil industry as demand rebounds and production follows, Bloomberg has reported, citing the chief of the Canadian Association of Petroleum Producers. "There's no…

Rising Fuel Stocks Push Oil Prices Lower

Apr 07, 2021 at 09:43 | Irina Slav

Crude oil prices fell on Wednesday after the Energy Information Administration reported a crude oil inventory draw of 3.5 million barrels for the week to April 2 along with…

UAE Presents Phenomenal Plan To Boost Its Position As Oil Hub

Apr 06, 2021 at 17:50 | Simon Watkins

Three key developments were announced last week by the UAE in line with its role as a principal member of the U.S.’s new Middle East strategy to counter China’s…

Iran’s Comeback To Oil Markets Unlikely To Cause Price Crash

Apr 06, 2021 at 17:49 | Alex Kimani

Oil investors now have to contend with another wildcard: Iran soon returning to the oil markets. After a three-year layoff, Iran could be poised to officially rejoin the ranks of…

Goldman Sachs: Return Of Iranian Oil Won't Shock Markets

Apr 06, 2021 at 11:19 | Tsvetana Paraskova

Iranian oil potentially returning legitimately to the market will not be a shock and a complete return will not take place at least until the summer of next year, Goldman…

OPEC Meeting: Saudis Look To Unwind Unilateral Output Cuts

Apr 01, 2021 at 10:58 | Tsvetana Paraskova

Oil prices gave up earlier gains and turned lower as of 11:39 a.m. EDT on Thursday, after reports emerged that Saudi Arabia was offering to gradually ease its additional unilateral…

Oil Prices Rise After OPEC+ Agrees To Gradually Increase Output This Summer

Apr 01, 2021 at 10:23 | Tsvetana Paraskova

The OPEC+ ministerial meeting is discussing gradual production increases over the next three months, sources say, while the group was still debating as of 11:10 a.m. EDT on Thursday how…

OPEC’s Production Rises In March As Iran Boosts Output

Mar 31, 2021 at 11:00 | Tsvetana Paraskova

A large increase in Iranian oil production pushed overall OPEC oil output higher in March compared to February, the monthly Reuters survey found on Wednesday, suggesting that higher supply…

OPEC+ Sees Slower Oil Demand Recovery Amid New Lockdowns

Mar 31, 2021 at 09:27 | Tsvetana Paraskova

An OPEC+ panel advising the group has revised down its global oil demand forecast for 2021 by 300,000 barrels per day (bpd) in light of the renewed lockdowns in Europe…

China Set To Buy 1 Million Bpd Of 'Cheap' Iranian Crude This Month

Mar 30, 2021 at 11:09 | Irina Slav

China’s crude oil imports from Iran this month could reach close to 1 million bpd, Reuters reported today, citing trading and analyst sources. That would be almost half the…

Saudi Arabia Ready To Extend Huge Oil Cuts Into June

Mar 30, 2021 at 09:00 | Irina Slav

Saudi Arabia is reportedly ready to extend current OPEC+ production cuts over May and June and also keep cutting 1 million bpd in oil output unilaterally, according to an unnamed…

Why The World’s Largest Oil Company Won't Cut Dividends

Mar 29, 2021 at 17:34 | Simon Watkins

Despite a 44 percent drop in its 2020 profits, the Saudi Arabian government has instructed majority-state-owned Saudi Aramco to stick to the US$75 billion per year dividend payout for shareholders…

Oil Markets Already Priced In An OPEC+ Output Cut Extension

Mar 29, 2021 at 12:04 | Yousef Alshammari

The closure of the Suez Canal led to a moderate price rally last week, which came after a significant decline in oil prices triggered by new and stringent lockdowns in…

Iran And China Strengthen Oil Ties With 25-Year Strategic Deal

Mar 29, 2021 at 10:24 | Tsvetana Paraskova

China and Iran officially stated they would boost their energy and political cooperation as part of a 25-year strategic partnership agreement at a time when the U.S. is looking to…

Russia Aims To Raise Production, Backs OPEC+ Cut Rollover

Mar 29, 2021 at 10:05 | Tsvetana Paraskova

Russia, the leader of the non-OPEC group in OPEC+, favors a rollover of the alliance's oil production cuts while seeking a slight increase for itself to meet higher seasonal demand,…

UAE Launches Own Oil Futures Contract

Mar 29, 2021 at 09:07 | Charles Kennedy

The UAE potentially made history today when it sounded the starting pistol for its Murban crude oil futures, to be traded on the brand new ICE Futures…

World's Largest Oil Companies Saw Revenues Slide 35.4% In 2020

Mar 26, 2021 at 12:53 | Tsvetana Paraskova

The biggest oil companies in the world, including Big Oil, Saudi Aramco, Russia's top oil producers, and the top oilfield services providers, saw their combined revenues fall by 35.4 percent…

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