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Floating Storage Begins To Fill Up As Oil Demand Wavers

Floating Storage Begins To Fill Up As Oil Demand Wavers

With fuel inventories rising fast,…

Energy / Crude Oil

Big Oil Forced To Change Strategy After The Oil Price Crash

Aug 10, 2020 at 15:02 | Tsvetana Paraskova

In one of the most challenging quarters for the oil industry in recent memory, the five Big Oil firms wrote down nearly US$50 billion from the value of…

Aramco Aims To Boost Production Capacity To 13 Million Bpd

Aug 10, 2020 at 12:59 | Julianne Geiger

While the world is still awash with oil that it cannot quickly get rid of during a time of historic demand crumbling, the world’s largest oil company is looking to…

Saudi Aramco: Asian Oil Demand Recovery Almost At Pre-Crisis Levels

Aug 10, 2020 at 10:57 | Tsvetana Paraskova

The world’s biggest oil-producing and oil-exporting company, state oil giant Saudi Aramco, is optimistic about the pace of oil demand recovery in Asia, chief executive Amin Nasser said on…

The Oil And Gas Industry Is Going Remote

Aug 07, 2020 at 13:57 | Irina Slav

If there was one thing the last oil price crisis proved, it was this: despite the devastation that low oil prices can wreak on an industry, they can…

U.S. Shale Remains In Survival Mode For Another Year

Aug 06, 2020 at 17:34 | Irina Slav

After slashing capex plans for 2020 and idling rigs by the dozen, U.S. shale drillers are still not ready to return to their default state of perpetual growth.…

U.S. Sends Crude Oil To World’s Top Exporter Saudi Arabia

Aug 06, 2020 at 13:52 | Charles Kennedy

The U.S. sent in June its first crude oil shipment to Saudi Arabia since the ban on crude export was lifted in 2015, which was also the first shipment since…

U.S. Companies Eye Venezuelan Oil Tankers As Debt Payment

Aug 06, 2020 at 09:55 | Charles Kennedy

O-I Glass Inc, a glass manufacturer, is trying to seize a Venezuelan oil tanker as part of efforts to secure the $500 million in arbitration compensation granted it by a…

Argentina Scrambles To Salvage Its Shale Boom

Aug 05, 2020 at 15:36 | Matthew Smith

Only two years ago analysts were hailing Argentina’s emerging shale oil boom, which many believed would be the next major petroleum frontier in Latin America. The vast Vaca…

China’s Crude Oil Imports Drop From Record Highs

Aug 05, 2020 at 13:01 | Tsvetana Paraskova

China’s crude oil imports are estimated to have dropped in July by 3 percent from June, but they were still much higher than the import volumes in July 2019, data…

Oil Prices Soar After EIA Reports Large Crude Draw

Aug 05, 2020 at 09:49 | Irina Slav

A week after it reported the heftiest crude oil draw in more than six months, the Energy Information Administration once again had good news for oil bulls: the authority

Oil Rallies Despite String Of Bearish News

Aug 04, 2020 at 17:49 | Irina Slav

On Monday, OPEC’s relaxation of its historic production cuts began—and oil prices responded by falling as the market braced for more oil. Monday morning’s price slide…

What Will The Post-Pandemic Shale Patch Look Like?

Aug 04, 2020 at 14:49 | Julianne Geiger

The global coronavirus pandemic--a true black swan event--has altered the course of the entire oil and gas industry, and not even the mighty US shale industry will emerge…

IMF: Global Oil Demand Will Shrink By 8% In 2020

Aug 04, 2020 at 10:02 | Tsvetana Paraskova

The coronavirus crisis will lead to global oil demand dropping by around 8 percent this year compared to last year, the International Monetary Fund (IMF) said in a new report,…

Despite Official Reports, China Has Been Hoarding Iranian Crude Oil

Aug 03, 2020 at 17:15 | Simon Watkins

A number of high-profile reports last week cited data released on 26 July by China’s General Administration of Customs (GAC) as clear evidence that China did not import…

U.S. Shale Faces Another Round Of Bankruptcies

Aug 03, 2020 at 16:39 | Irina Slav

More than thirty billion dollars: this is the size of the collective debt of oil and gas companies that filed for bankruptcy protection in the first half of…

U.S. Oil Production Won’t Make A Comeback Under Current Prices

Aug 03, 2020 at 12:17 | Yousef Alshammari

Oil prices remain stable despite rising pressure over the last week. Economic data from the United States fueled bearish sentiment despite encouraging data from the EIA. The U.S.…

Russian Oil Output Falls 16% In July

Aug 03, 2020 at 11:06 | Irina Slav

Russian oil companies pumped 16 percent less oil last month than a year earlier, government data reported by Interfax showed. At 39.63 million tons, Russia’s average daily output for…

Oil Prices Rise Despite An Influx Of OPEC+ Crude

Aug 03, 2020 at 10:06 | Tsvetana Paraskova

Oil prices jumped on Monday morning, recuperating earlier losses, on the first trading day after OPEC+ eased its record oil production cuts by 2 million barrels per day (bpd), while…

Asian LNG Prices Are Way Too Low For U.S. Exporters

Jul 31, 2020 at 18:01 | Nick Cunningham

A massive wave of investment has poured into LNG export terminals around the world in recent years, and nearly all of the projects have China at the center…

Why Energy Demand Is Plummeting In The U.S.

Jul 31, 2020 at 18:01 | Haley Zaremba

All the way back in April (which may as well be years ago at the rate that the news cycle is moving these days) Oilprice

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