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Traders Ditch Bullish Bets on Oil

Traders Ditch Bullish Bets on Oil

A continuously fading war risk…

Canada's Oil and Gas Industry Soars to New Heights

Canada's Oil and Gas Industry Soars to New Heights

Canada's oil and gas industry…

Energy / Crude Oil

Suing Big Oil Is Becoming a Lucrative Business

Apr 05, 2024 at 09:23 | Irina Slav

First it was a group of children in Montana. Then, in Portugal, a group sued their local governments for allowing climate change to happen. The Montana group even…

Ecopetrol, Guerillas and Death Squads: The War for Colombia’s Oil

Apr 04, 2024 at 08:58 | Matthew Smith

Colombia’s national oil company Ecopetrol, regarded as one of the best-managed state-controlled energy companies in Latin America, is still dealing with allegations of murder, extortion, and intimidation. Since the early…

U.S. Oil Is Stealing Market Share from OPEC+

Apr 03, 2024 at 09:51 | Tsvetana Paraskova

Surging U.S. oil production and shifting global oil flows amid geopolitical flare-ups have boosted American crude exports to record-high levels in recent months. Now U.S. oil is encroaching on the…

Oil Moves Higher on Fuel Inventory Draws

Apr 03, 2024 at 09:39 | Irina Slav

Crude oil prices rose today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the last week of March. The authority also estimated draws…

Don’t Believe The Critics: OPEC Cuts Are Working

Apr 01, 2024 at 14:47 | Irina Slav

When OPEC and its partners led by Russia first announced additional oil production cuts last year, the market brushed it off. Prices fell. Forecasts for peak oil demand echoed off…

Against All Odds American Oil Soars Under Biden

Mar 31, 2024 at 10:54 | Alex Kimani

After a sharp decline in the final quarter of 2023, U.S. gasoline prices are surging again in a pivotal election year, offering Republicans a fresh chance to pin the…

Big Oil Criticized for Falling Short of Net-Zero Goals

Mar 29, 2024 at 09:22 | Irina Slav

Climate Action 100+, a lobby group comprising many of the world’s biggest asset managers, has criticized Big Oil majors for falling short of a set of criteria devised to assess…

Is It Time To Abandon the Idea of Phasing Out Oil and Gas?

Mar 29, 2024 at 09:19 | Felicity Bradstock

  Despite feigning interest, Big Oil still appears to oppose the global green transition and could well stand in its way. As Saudi’s state oil company leader condemns the green…

Sanctions Begin To Bite Into Russian Oil Exports

Mar 27, 2024 at 16:16 | Tsvetana Paraskova

The tightening sanctions on Russia's oil exports are raising freight costs for moving Russian crude and having India scrutinize deliveries to avoid opaque trades. The U.S. upped the ante in…

Oil Moves Down on Inventory Rise

Mar 27, 2024 at 09:38 | Irina Slav

Crude oil prices were in the red today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the week to March 22. This 

Pump Prices Set to Hit $4 a Gallon

Mar 27, 2024 at 08:47 | ZeroHedge

US oil prices have recently jumped above the $80 a barrel mark - the highest level since late 2023, sending worrying signals to the Federal Reserve and overly…

Traders Are Buying Oil At The Fastest Rate Since 2020

Mar 26, 2024 at 14:06 | Irina Slav

After months of skepticism, traders seem to have finally realized that OPEC+ is serious about keeping crude oil supply constrained. Per the latest weekly data from Reuters, as 

Investors Brace for Impact as Crude Markets React to Rising War Risks

Mar 26, 2024 at 09:00 | ZeroHedge

A twin crisis is unfolding for the administration as the Ukrainian military bombs key crude refineries deep within Russian territory with suicide drones. The administration has

Iraq And Iran Will Expedite Development Of Sanctions-Busting Shared Oil Fields

Mar 25, 2024 at 12:38 | Simon Watkins

A key reason why oil prices have remained relatively subdued despite the ongoing Russia-Ukraine and Israel-Hamas wars is that Iran has been producing much more oil than widely known, with…

Is U.S. Shale Production Finally Nearing Its Peak?

Mar 21, 2024 at 10:00 | David Messler

Last October, I published a piece on OilPrice where I discussed the drivers for the rapid expansion of upstream E&P merger activity that…

Trouble in the North Sea? Wood Group Announces Job Cuts

Mar 21, 2024 at 08:46 | City A.M

UK oil major Wood Group is set to cut hundreds of jobs as it prepares to release its 2023 annual results, reports suggest. According to Sky…

StanChart: Oil Demand Set for All-Time High in May

Mar 20, 2024 at 14:47 | Alex Kimani

Crude oil futures have rallied close to a five-month high with concerns about tightening supplies driving up prices in recent days, only coming down to earth on Wednesday and paring…

Big Oil Grows Bolder in Transition Pushback

Mar 20, 2024 at 13:57 | Irina Slav

Until recently, large oil companies tended to stay quiet when governments and activists urged them to accelerate the transition from their products to alternative energy sources. Now, this is changing.…

Oil Supported By Crude, Gasoline Draws

Mar 20, 2024 at 09:44 | Irina Slav

Crude oil prices were trading lower today after the Energy Information Administration reported that U.S. crude oil inventories had shed 2 million barrels in the week to March…

AI Infiltrates Oil Industry To Speed Up Drilling, Cut Costs

Mar 18, 2024 at 10:29 | Irina Slav

Many tech analysts have accused the oil industry of being too slow to adopt new technology. Yet the industry is itself the source of much technological progress in its narrow,…

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