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Energy / Crude Oil

IEA Asks Majors Oil Producers To Boost Production

IEA Asks Majors Oil Producers To Boost Production

Oct 04, 2018 at 12:23 | Tsvetana Paraskova

Rising oil prices are hurting consumers, Fatih Birol, the Executive Director of the International Energy Agency (IEA), says, calling on major all producers to do the best they can to…

Saudi Arabia To Splash $20B On Oil Capacity Boost

Saudi Arabia To Splash $20B On Oil Capacity Boost

Oct 04, 2018 at 10:31 | Irina Slav

Saudi Arabia will spend US$20 billion on boosting its oil production capacity in the coming years, Energy Minister Khalid al-Falih said, as quoted by Reuters. Earlier this week, the…

OPEC Accused Of Hiding Spare Capacity

OPEC Accused Of Hiding Spare Capacity

Oct 04, 2018 at 09:29 | Irina Slav

The U.S. State Department has lashed out against OPEC, accusing the cartel of hiding 1.42 million bpd in spare oil production capacity, S&P Global Platts reports, citing a statement sent…

Saudi Arabia And Russia Make Secret Oil Deal

Saudi Arabia And Russia Make Secret Oil Deal

Oct 03, 2018 at 16:07 | Nick Cunningham

Are Saudi Arabia and Russia helping Trump out by agreeing to increase oil production? A new report from Reuters says that Russia and Saudi Arabia “struck a private deal”…

Venezuela’s Oil Exports Are Falling Even Faster Than Expected

Venezuela’s Oil Exports Are Falling Even Faster Than Expected

Oct 03, 2018 at 15:52 | Irina Slav

A delay in port repairs following a tanker collision is putting additional pressure on already pressured Venezuelan crude oil exports, Reuters quoted anonymous sources close to PDVSA as saying this…

Energy Minister: Saudi Arabia Is Boosting Oil Production

Energy Minister: Saudi Arabia Is Boosting Oil Production

Oct 03, 2018 at 11:45 | Tsvetana Paraskova

Saudi Arabia will pump 10.7 million bpd of oil in October and will slightly raise this level in November, Saudi Energy Minister Khalid al-Falih said at an energy forum…

Oil Slumps On Major Inventory Build

Oil Slumps On Major Inventory Build

Oct 03, 2018 at 09:38 | Irina Slav

Crude oil prices fell after the Energy Information Administration reported an 8-million-barrel build in U.S. crude oil inventories for the week to September 28. Although expected by some analysts…

WTI Discount To Brent Could Explode

WTI Discount To Brent Could Explode

Oct 02, 2018 at 16:57 | Nick Cunningham

The world’s two most important oil benchmarks are on two different tracks, and may see a larger divergence in the months ahead. WTI has typically traded at a discount to…

Citi: Brent-WTI Spread Could Widen To 5-Year High

Citi: Brent-WTI Spread Could Widen To 5-Year High

Oct 02, 2018 at 13:24 | Tsvetana Paraskova

Rising U.S. oil production, coupled with the Permian pipeline capacity constraints, are set to lead to a build-up in Cushing, Oklahoma, inventories that will put further pressure on the benchmark…

The $50 Billion Deal That Could Revive The Aramco IPO

The $50 Billion Deal That Could Revive The Aramco IPO

Oct 02, 2018 at 12:13 | Cyril Widdershoven

The Aramco IPO saga continues, with the Saudi oil giant soon to enter the international financial markets for a $50 billion loan. International sources are reporting that the world’s largest…

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