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Energy / Crude Oil

Is This The World’s Next Oil Hotspot?

Jun 09, 2020 at 16:04 | Charles Kennedy

By the end of the second quarter of 2020, data from drill bits may tell us whether or not the world has found the next Eagle Ford, and it’s all…

Are Hedge Funds Done With Oil?

Jun 09, 2020 at 14:37 | Irina Slav

Things have been happening increasingly fast in the oil industry, especially with prices. With so much volatility around, price movements are quick and often surprising. Right now, the…

The Real Reason China Is Importing So Much Oil

Jun 09, 2020 at 10:56 | Tsvetana Paraskova

China smashed its crude oil imports record in May as manufacturing activity picked up and lockdowns eased. Amid recovering demand for gasoline and diesel, China’s total demand is…

Is OPEC’s No.2 Finally Complying With Output Cuts?

Jun 09, 2020 at 09:58 | Tsvetana Paraskova

OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started…

Libya’s Largest Oil Field Shuts Down Just One Day After It Restarted

Jun 09, 2020 at 08:59 | Irina Slav

Armed individuals entered Libya’s largest oil field, El Sharara, just a day after reports said the field had restarted production after months of idling amid the ongoing civil war. Another…

Libya To Restart Production At Its Largest Oilfield

Jun 08, 2020 at 10:34 | Tsvetana Paraskova

Civil war-torn Libya has resumed oil production at its biggest oilfield, hoping to put an end to the bitter infighting that has crippled its oil output since the beginning of…

Deep Output Cuts Could Cause Long Lasting Deficit In Oil Markets

Jun 08, 2020 at 10:08 | Rystad Energy

The forced oil production shutdowns and the extension of the generous OPEC+ voluntary cuts into July will not only balance the Covid-19-hit global crude and condensate demand, but…

OPEC+ Agrees On Extending Record Output Cuts

Jun 06, 2020 at 14:22 | Tom Kool

OPEC and its partners concluded their meeting on Saturday afternoon, announcing that it would extend its current production cut deal. Algeria’s Energy Minister Mohamed Arkab, OPEC’s current…

Will U.S. Shale Ever Return To Its Boom Days?

Jun 05, 2020 at 17:26 | Nick Cunningham

U.S. shale drillers are bringing back shut in production three months after the onset of the current downturn. But steep decline rates will increasingly take hold, dragging down…

Will Canadian Oil See Any Federal Help?

Jun 05, 2020 at 17:18 | Tsvetana Paraskova

Crushed by plunging oil prices and demand in the coronavirus pandemic, Canadian oil firms slashed budgets, dividends, and production to save their finances through one of the worst…

Global Oil Demand To Fall To Levels Not Seen Since 2014

Jun 05, 2020 at 10:04 | Irina Slav

Crude oil demand this year will fall to around 90.6 million bpd this year, OPEC’s secretary-general Mohammed Barkindo said ahead of the next OPEC+ meeting, as cited by Trend.…

Did Iraq Just Doom The OPEC Deal?

Jun 04, 2020 at 17:08 | Julianne Geiger

OPEC is in negotiations with its members to find the best way forward, but talks appear to have stalled over one laggard, Iraq, which has failed to…

China’s Crude Oil Imports Rebound To Near Record High

Jun 04, 2020 at 14:32 | Tsvetana Paraskova

China’s crude oil imports jumped by 13 percent from April to near record-highs of 11.11 million bpd in May, due to favorable spreads of the Shanghai-traded yuan-denominated oil futures and…

Canadian Crude Exports Drop 55% Following Oil Price Crash

Jun 04, 2020 at 13:08 | Tsvetana Paraskova

The oil price and demand crash in April resulted in Canada’s energy exports plunging by the most on record, with crude oil exports plummeting by 55.1 percent, Statistics Canada

China Leads The Global Oil Demand Recovery

Jun 03, 2020 at 12:19 | Tsvetana Paraskova

Global oil demand has improved over the past few weeks, led by China’s demand which has rebounded to 90 percent of its pre-coronavirus levels, while tentative signs of improvement emerge…

Bahrain To Speed Up Development Of Huge 80 Billion Barrel Oil Reserves

Jun 03, 2020 at 11:40 | Simon Watkins

Given the massive negative hit taken by Saudi Arabia’s economy as a result of Crown Prince Mohammed bin Salman’s oil price war, aimed at destroying the U.S. shale oil…

Oil Falls Back On Large Fuel Build

Jun 03, 2020 at 09:40 | Irina Slav

A day after the American Petroleum Institute surprised market yet again with a crude oil inventory draw, pushing prices up, the Energy Information Administration also reported an inventory decline,…

U.S. Oil Drillers Restart Production As Prices Recover

Jun 02, 2020 at 17:11 | Nick Cunningham

Shale drillers are bringing some shuttered oil production back online as the glut eases.  The total amount of shut-in production in the Bakken stood at 475,000…

Can Yemen’s Oil Industry Make A Comeback?

Jun 02, 2020 at 13:25 | Viktor Katona

The coronavirus pandemic has dealt an immense blow to businesses and nations all around the planet, yet there is one specific sphere where it might actually deliver some…

Petrobras Oil Stockpiles Are “Paradoxically” Low

Jun 02, 2020 at 09:05 | Irina Slav

Brazil’s Petrobras is one of very few oil companies with no oil storage problem, according to its chief executive. Roberto Castello Blanco said at an event yesterday that Petrobras’s oil…

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