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Energy / Crude Oil

Russian Oil Exports Under Fire As Iraq Slashes Prices

Sep 15, 2021 at 14:59 | Tsvetana Paraskova

The price of Russia’s flagship Urals grade slumped this week as Russian supply and exports are set to grow and as Iraq cuts the price of its crude for…

Oil Prices Rise Further On Large Crude Inventory Draw

Sep 15, 2021 at 09:39 | Irina Slav

Crude oil prices went up today on bullish news from the U.S. Energy Information Administration, which reported a 6.4-million-barrel draw in crude oil inventories and another draw in fuel…

China’s Oil Sale Is A Clear Message To OPEC+

Sep 14, 2021 at 17:12 | Irina Slav

China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move…

IEA Sees Robust Oil Demand In October

Sep 14, 2021 at 10:27 | Tsvetana Paraskova

After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end…

Texas Oil Industry Braces For Impact As Hurricane Nicholas Makes Landfall

Sep 14, 2021 at 09:16 | Irina Slav

Tropical storm Nicholas, which was upgraded to a Category 1 hurricane yesterday, made landfall in the early hours of Tuesday in the Matagorda Peninsula, threatening dangerous flooding in the…

Exxon’s Big Bet On Guyana Is Starting To Pay Off

Sep 10, 2021 at 11:47 | Matthew Smith

After commencing exploration drilling in offshore Guyana in 2015 the world’s second largest publicly listed oil company by market cap ExxonMobil experienced stunning success

Robust Gasoline Consumption Fuels Record-High U.S. Oil Demand

Sep 10, 2021 at 11:42 | Tsvetana Paraskova

U.S. oil demand continues its upward trajectory—reaching a record high last week--while product inventories have fallen to the lowest levels in three years. If the demand…

U.S. Coast Guard To Investigate Over 350 Potential Oil Spills Caused By Ida

Sep 10, 2021 at 11:39 | Haley Zaremba

Hurricane Ida has left a lasting wake of destruction and chaos along the Gulf Coast. The hurricane, which was a category 4 storm when it initially made landfall…

Hurricanes Raise Risk Of Oil Spills In Gulf Of Mexico

Sep 10, 2021 at 11:32 | Tsvetana Paraskova

As the latest strong storm that passed through the U.S. Gulf of Mexico showed, hurricanes are testing the resilience of offshore oil and gas facilities and pipelines.  

Iraq Secures New Investments In Its Booming Oil Industry

Sep 10, 2021 at 11:17 | Felicity Bradstock

After recent announcements of new developments in Iraq by several oil majors, the country appears to be rebounding strongly from the coronavirus pandemic, looking to maintain its reputation…

OPEC May Cut 2022 Oil Demand Forecast

Sep 10, 2021 at 11:00 | Tsvetana Paraskova

OPEC could revise down its forecasts for global oil demand in 2022, in view of the increased uncertainty with the Delta variant, two OPEC+ sources told Reuters on Friday.…

Brazil Looks To Become A Top-5 Oil Producer

Sep 09, 2021 at 10:57 | Matthew Smith

In a little over a decade Latin America’s largest economy Brazil has become a leading global oil producer. At the end of 2020, Brazil was not only pumping…

Why Bitcoin Miners Are Setting Up Shop In Texas Oilfields

Sep 09, 2021 at 10:52 | Haley Zaremba

Politicians, environmentalists, economists, and energy executives are all puzzled over a compounding conundrum: what’s to be done about Bitcoin? Just this week, El Salvador became the first country…

Oil Prices Jump On Record Production Plunge, Major Gasoline Draw

Sep 09, 2021 at 10:32 | Irina Slav

Oil prices rose today after the Energy Information Administration reported an inventory decline of 1.5 million barrels for the week to September 3, with sizeable draws in fuel inventories…

World’s Top Oil Consumers Exceed Pre-Pandemic Demand Levels

Sep 09, 2021 at 08:25 | Irina Slav

Some of the world’s biggest oil consumers, led by China, have already exceeded pre-pandemic consumption levels, Bloomberg reports, citing consultancy SIA Energy. “The worst for Asian fuel demand is…

China Sees Opportunity As Venezuela’s Oil Industry Hits Rock Bottom

Sep 08, 2021 at 15:12 | Matthew Smith

Venezuela’s near-collapse and strict U.S. sanctions are creating an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that for decades has…

Soaring Gasoline Prices Could Cripple Biden’s Energy Agenda

Sep 08, 2021 at 14:54 | Irina Slav

President Joe Biden’s prioritization of the shift from fossil fuels to renewable energy has drawn a lot of attention since his first day in office when he killed…

Is North Dakota’s Oil Industry Finally Bouncing Back?

Sep 08, 2021 at 13:47 | Felicity Bradstock

Since 2010, North Dakota’s oil industry has boomed, putting McKenzie on the map as the fastest-growing county in the U.S. Following a year and a half of pandemic,…

The Gulf Of Mexico Just Saw Its Worst Energy Disruption Since Hurricane Katrina

Sep 08, 2021 at 13:17 | ZeroHedge

Hurricane Ida's disruption to the U.S. offshore energy production in the Gulf of Mexico is the worst in 16 years. It has already stressed domestic and global supply…

World’s Third-Largest Oil Importer Sees Rebound In Demand

Sep 07, 2021 at 15:49 | Irina Slav

India's crude oil demand has been on the mend since mid-summer. It is likely to continue along this same vein for quite a while, with at least one…

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