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Energy / Crude Oil

Oil Falls On Large Crude Inventory Build

Oil Falls On Large Crude Inventory Build

Apr 03, 2019 at 09:46 | Irina Slav

Crude oil prices fell today after the Energy Information Administration reported an inventory increase of 7.2 million barrels for the week to March 29. This compared with a 2.8-million-barrel…

Aramco’s Mythical Ghawar Field Could Be Its Weak Spot

Aramco’s Mythical Ghawar Field Could Be Its Weak Spot

Apr 02, 2019 at 16:47 | Nick Cunningham

Some of the most secretive, highly-anticipated details about the Saudi oil industry have just been released. Saudi Aramco is preparing to launch a major bond issuance to purchase the Saudi…

China Can’t Get Enough Of Brazilian Crude

China Can’t Get Enough Of Brazilian Crude

Apr 02, 2019 at 12:40 | Haley Zaremba

As the United States leans into sanctions against Venezuelan oil and the administration of contested president Nicolas Maduro, longtime PDVSA buyers have had to look to other Latin American countries…

Alberta Oil Inventories Rise Despite Production Cuts

Alberta Oil Inventories Rise Despite Production Cuts

Apr 02, 2019 at 11:14 | Irina Slav

Crude oil inventories in Canada’s oil province Alberta rose in February despite a government-imposed production cut aimed at propping up the price of Canadian crude and reducing excess supply in…

Oil Prices Spike On Shale Slowdown

Oil Prices Spike On Shale Slowdown

Apr 01, 2019 at 18:58 | Nick Cunningham

The collapse of oil prices late last year, along with pressure from shareholders, has led to a slowdown in the U.S. shale industry. The EIA released new monthly data…

Reuters: OPEC’s Oil Production Drops To Lowest Since 2015

Reuters: OPEC’s Oil Production Drops To Lowest Since 2015

Apr 01, 2019 at 12:53 | Tsvetana Paraskova

OPEC’s oil production in March 2019 fell to its lowest level since February 2015, as Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela…

Big Oil Is Heading Offshore

Big Oil Is Heading Offshore

Mar 29, 2019 at 18:40 | Irina Slav

Oil companies will this year increase their investments in offshore drilling for the first time after five years of spending cuts as optimism for this segment of the industry returns…

The Oil Rally Is Set To Continue

The Oil Rally Is Set To Continue

Mar 29, 2019 at 18:32 | Jim Hyerczyk

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures surged to a new high for the year this week. The markets are being underpinned by the OPEC-led production cuts…

US Oil Production Dips For First Time In Nearly Six Months

US Oil Production Dips For First Time In Nearly Six Months

Mar 29, 2019 at 18:30 | Julianne Geiger

Average daily crude oil production slipped during the month of January for the first time in nearly six months, according to the Energy Information Administration’s latest report published on…

China’s Power Play To Get Its Hands On Foreign Oil

China’s Power Play To Get Its Hands On Foreign Oil

Mar 28, 2019 at 18:04 | Damir Kaletovic

In accordance with the “new guidelines” for its economic development, China is trying to get back to the well-known “Silk Road,” a  $900 billion scheme of a “new era…

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