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Why AI Is The Future Of Offshore Oil Drilling

Why AI Is The Future Of Offshore Oil Drilling

Shell announced plans to use…

Energy / Crude Oil

Is This The Next Permian Mega Deal?

Apr 10, 2023 at 10:07 | David Messler

The Wall Street Journal reports that ExxonMobil, (NYSE: XOM), and Pioneer Natural Resources, (NYSE: PXD) are in preliminary discussions about a merger. There…

Saudi- U.S. Relations Sour Further On Huge OPEC+ Surprise Cut

Apr 10, 2023 at 09:22 | Simon Watkins

The surprise huge new cut in oil production from ‘OPEC+’ - the Saudi Arabia-led OPEC group of countries ‘plus’ Russia - highlights that any optimism over a possible…

Russia Cuts More Oil Production Than Anticipated

Apr 10, 2023 at 08:27 | Julianne Geiger

Russia has reduced its crude oil production by 700,000 bpd in March, a person familiar with Russian Energy Ministry figures told Bloomberg. Russia warned in February that it would cut…

Hedge Funds Are Still Bearish On Oil But Bulls Are Gaining Steam

Apr 07, 2023 at 11:14 | Alex Kimani

The oil markets have been oversupplied over the past few months thanks to overall weak demand following warmer than expected weather in Europe. The U.S. crude market started…

OPEC+ Cuts Will Eliminate Oil Surplus

Apr 06, 2023 at 13:57 | Alex Kimani

On Sunday, OPEC+  announced that it will reduce its output further, by some 1.66 million barrels per day, bringing the cartel’s total output reduction to 3.66 million…

North Sea Oil Production Could Fall By 80% By 2030

Apr 06, 2023 at 09:45 | Felicity Bradstock

According to the industry body Offshore Energies UK, investments in the North Sea have dipped significantly. This could result in much lower oil production by the end of the decade…

Oil Spills Plague Colombia’s Petroleum Industry

Apr 05, 2023 at 10:39 | Matthew Smith

Extractive industries in Colombia, primarily oil, coal and gold mining, are heavily impacting the strife-torn country’s environment. While oil spills and other forms of environmental contamination are frequent, there is…

Oil Markets Are Misinterpreting The OPEC+ Cut

Apr 05, 2023 at 10:22 | Osama Rizvi

The surprise announcement by OPEC+ of another production cut totaling 1.16 million barrels per day caused oil prices to rally 8%. I previously wrote about this in my…

Inventory Draws Across The Board Push Oil Prices Higher

Apr 05, 2023 at 09:38 | Irina Slav

Oil prices climbed higher today, after the Energy Information Administration reported a crude oil inventory draw of 3.7 million barrels for the week to March 31. At 470 million…

What Fast-Growing Oil Demand In Asia Means For The Rest Of The World

Apr 03, 2023 at 17:47 | Irina Slav

When earlier this year, prices slumped following the series of bank collapses in the United States, their subsequent recovery was attributed to one factor: China. The world’s largest oil and…

Will EVs Really Crush All Oil And Gas Demand?

Mar 31, 2023 at 14:40 | Alex Kimani

      Last year, the electric vehicle sector crossed a global milestone, with one out of ten vehicles sold being electric for the first time ever. While…

Lower Natural Gas Price Is Not All Good News For Europe

Mar 31, 2023 at 12:50 | Tsvetana Paraskova

Europe successfully avoided a gas shortage crisis this winter thanks to high LNG imports, reduced demand, and milder weather. As a result, European natural gas…

U.S. Drilling Activity Slips Following Price Slump

Mar 31, 2023 at 12:15 | Julianne Geiger

The total number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig…

Kazakhstan Looks To Ramp Up Oil Exports To Europe

Mar 31, 2023 at 12:00 | The Jamestown Foundation

After almost a two-month delay, on February 23, Kazakhstani company KazTransOil finally began exporting oil to Germany, sending the first shipment of 20,000 tons of Kazakhstani oil (

Suriname’s Stalled Oil Boom Adds To Economic Headwinds

Mar 31, 2023 at 11:03 | Matthew Smith

The former Dutch colony of Suriname is struggling to recover from the economic devastation of the pandemic. Civil dissent is intensifying with riots sparked by rising food and fuel prices…

Which President Had The Biggest Impact On U.S. Oil Production?

Mar 29, 2023 at 12:36 | Robert Rapier

In the previous article, I reviewed gasoline prices under the past four presidents. I only went back that far because gasoline prices were…

Saudi Aramco Bets On Continuous Growth Of Chinese Oil Demand

Mar 29, 2023 at 10:35 | Tsvetana Paraskova

The world’s largest crude oil exporter, Saudi Arabia, is betting big on the growing market for crude China, as Saudi oil giant Aramco is strengthening its downstream presence and crude…

Oil Rallies On Large Crude Draw

Mar 29, 2023 at 09:49 | Irina Slav

Oil prices ticked up today, after the U.S. Energy Information Administration reported a crude oil inventory draw of 7.5 million barrels for the week to March 21. This

Finding Value In Eagle Ford’s Merger Mania

Mar 28, 2023 at 11:22 | David Messler

Baytex Energy, (NYSE:BTE) made news toward the end of Feb with its announcement of the merger with Ranger Oil Corp (RROC) for about $2.5 bn…

Can Libya Really Double Its Oil Output?

Mar 28, 2023 at 10:07 | Simon Watkins

Before the removal of its long-time leader, Muammar Gaddafi, in 2011, Libya had easily been able to produce around 1.65 million barrels per day (bpd) of mostly high-quality light, sweet…

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