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Energy / Crude Oil

G7 Presses Ahead With Russian Oil Price Cap

Jul 27, 2022 at 10:59 | Julianne Geiger

The G7 are pressing on with their price cap on Russian oil, targeting a date of December 5 for having a mechanism in place to achieve this, an anonymous senior…

Iran’s Oil Earnings Soar Despite Sanctions

Jul 27, 2022 at 10:57 | Felicity Bradstock

Iran’s oil industry seems to be going from strength to strength despite ongoing U.S. sanctions on Iranian energy, as governments worldwide look to secure their oil supplies in…

U.S. Remains World’s Top Oil Producer And Consumer

Jul 27, 2022 at 10:52 | Robert Rapier

Earlier this month BP released its Statistical Review of World Energy 2022. The Review provides a comprehensive picture of supply and demand for…

High Oil Prices Spark A New Wave Of Exploration

Jul 26, 2022 at 10:37 | Alex Kimani

When the energy crisis hit a nadir two years ago, highly indebted American oil and gas companies quickly changed their playbook, adopting stricter cost discipline, cutting back on…

Libya Raises Oil Production To 1.1 Million Bpd

Jul 26, 2022 at 10:35 | Tsvetana Paraskova

Libya, plagued by port blockades and protests at oil facilities in recent months, has now managed to raise its oil production to 1.1 million barrels per day (bpd), the oil…

East African Governments Clash With Environmentalists Over New Oil Pipeline

Jul 26, 2022 at 10:28 | Felicity Bradstock

East Africa seems to be split in favour of and against the East African Crude Oil Pipeline (EACOP) being built in Uganda and Tanzania. Environmentalists are concerned about…

Traders Are Betting On The End Of The Oil Price Slump

Jul 25, 2022 at 11:45 | Tsvetana Paraskova

Short sellers are closing out short positions against oil-focused exchange traded funds, while money managers have modestly increased their holdings of crude oil futures over the latest reporting…

Gulf Producers Hike Crude Prices Despite Recession Fears

Jul 25, 2022 at 09:48 | Gerald Jansen

In hindsight, June 2022 might go down as the last month when the markets at large were still yet to go into full panic, acknowledging economic recession as…

Will Russia Cut Natural Gas Flows To Europe?

Jul 25, 2022 at 08:47 | Tsvetana Paraskova

Despite the fact that Nord Stream last week resumed operations after a 10-day maintenance period, analysts and European countries are bracing for further disruptions amid continued uncertainty about…

U.S. SPR Releases Set To End This Fall

Jul 25, 2022 at 08:28 | Irina Slav

The record-high release of crude oil from the U.S. Strategic Petroleum Reserve will end as scheduled this fall, the White House's Special Presidential Coordinator for International Energy Affairs Amos Hochstein…

U.S. Oil Rig Count Unchanged As WTI Slumps Below $100

Jul 22, 2022 at 12:15 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 2 this week, according to new data from Baker Hughes published on Friday. The total rig count…

High Crude Prices Are Here To Stay

Jul 22, 2022 at 10:59 | Irina Slav

Crude oil has been on a decline over the past few weeks as growing worry about a looming global recession weighs it down. But oil is not going…

Guyana Poised To Break $1 Billion In Oil And Gas Revenue This Year

Jul 22, 2022 at 09:24 | Rystad Energy

As the burgeoning Guyanese offshore oil and gas industry goes from strength to strength, powered by the Stabroek block, government revenue from domestic production is on track to…

World’s Top Oilfield Service Provider Raises Earnings Outlook

Jul 22, 2022 at 08:48 | Tsvetana Paraskova

Schlumberger (NYSE: SLB) reported on Friday higher-than-expected profit for the second quarter as drilling activity rebounded in all markets, prompting the world’s largest…

Putin Calls Saudi Crown Prince To Discuss Oil Market, OPEC+

Jul 21, 2022 at 15:14 | Julianne Geiger

Russian President Vladimir Putin had a phone conversation with Saudi Arabia’s Crown Prince Mohammed bin Salman to discuss the oil market and OPEC+. The two parties also made a note…

The Middle East Oil Bonanza Will Slow In 2023

Jul 21, 2022 at 10:06 | Tsvetana Paraskova

Slowing global oil demand growth next year, spiking food prices, and fears of recession in major oil-importing countries are set to slow economic growth in the Middle East,…

Saudi Arabia’s Ability To Pump More Oil “Limited”

Jul 20, 2022 at 10:29 | Julianne Geiger

Saudi Arabia has limited additional crude oil production capacity, Wall Street Journal sources revealed on Wednesday. The sources, who are said to be familiar with Saudi Arabia’s oil production capabilities,…

Russia’s Cheap Oil Gains Market Share In China

Jul 20, 2022 at 10:15 | Tsvetana Paraskova

China continues to buy discounted Russian crude and is gobbling up the ESPO crude grade from Russia’s Far East, upending global trade flows. ESPO, which Russia ships from its Far…

How China Could Trigger The Next Sharp Selloff In Crude

Jul 19, 2022 at 11:08 | Simon Watkins

If ever there had been a time when crude oil was going to reach the US$200-plus per barrel (pb) levels posted in clickbait headlines or bank research reports…

Libya’s Oil Crisis Is Far From Over

Jul 19, 2022 at 11:04 | Simon Watkins

For a moment last week, it seemed that Libya might be snapping back into some version of itself more approaching normalcy than has been evident for some time.…

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