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Why $80 Oil Won't Destroy Demand

Why $80 Oil Won't Destroy Demand

Global oil demand is recovering…

Energy / Crude Oil

OPEC+ Ignores Biden, Keeps Output Plans Unchanged

Sep 01, 2021 at 11:19 | Irina Slav

The September meeting of OPEC+ today wasn’t expected to erupt in vehement disagreements. Unlike the last meeting, when a rift between Saudi Arabia and the UAE caused worry…

Finding A Real Solution To Louisiana's Energy Crisis

Sep 01, 2021 at 10:54 | Leonard Hyman & William Tilles

You may have seen the recent YouTube video of Entergy crews installing a new high voltage transmission tower near New Orleans. The new tower was supposed to withstand…

UK North Sea Investment Crashes To 50-Year Low

Sep 01, 2021 at 10:27 | Tsvetana Paraskova

Due to the pandemic-driven collapse in oil prices, capital investment in the UK North Sea plunged by one-third in 2020 to the lowest level since 1973, offshore industry body OGUK…

Major Crude Draw Sends Oil Higher On First Trading Day Of The Month

Sep 01, 2021 at 09:35 | Irina Slav

Crude oil prices moved higher today after the Energy Information Administration reported inventories had shed 7.2 million barrels in the week to August 27. This

Louisiana Faces Major Oil Tanker Traffic Jam Following Hurricane Ida

Sep 01, 2021 at 09:03 | Irina Slav

More than two dozen oil tankers are jamming Louisiana ports in the wake of Hurricane Ida as port operators continue to assess the damage, Reuters reports, citing sources and…

3 Distinct Futures For The Oil Industry

Aug 31, 2021 at 15:25 | Alex Kimani

As the global economy emerges from the pandemic and commodity prices continue on a recovery path, it's becoming increasingly evident that the oil and gas industry is standing…

OPEC+ Sees Oil Markets Tightening This Fall

Aug 31, 2021 at 11:25 | Tsvetana Paraskova

Despite the COVID resurgence, the oil market will become increasingly tight this year, OPEC+ estimates show, but as the group continues to ease the production cuts into next year,…

Chinese Buyers Ramp Up Crude Oil Purchases

Aug 31, 2021 at 10:35 | Irina Slav

After several months of slowdowns in spot market oil cargo buys, Chinese importers are once again boosting their purchases, Reuters reports, citing traders and analysts. Lockdowns in response to…

How To Capitalize On Guyana’s Oil Boom

Aug 30, 2021 at 15:30 | David Messler

The oil market has come through some tough sledding the last 6-8 weeks as doubts about the commitment of OPEC+ to the newly agreed output limits, and the…

China’s Refinery Crackdown Leaves Oil Tankers With Nowhere To Go

Aug 30, 2021 at 11:30 | Haley Zaremba

China is cracking down on its private-sector oil refiners in a bid to close tax loopholes and mitigate pollution. Approximately a quarter of…

Nordic American Tankers: More Oil Is Coming To The Market

Aug 30, 2021 at 10:05 | Tsvetana Paraskova

The oil tanker industry faces brighter prospects in the coming months with more crude set to arrive on the international markets, according to the Nordic American Tankers. In its second-quarter…

Oil Could Rise Further As OPEC Suggests Keeping Output Cuts In Place

Aug 30, 2021 at 09:25 | Irina Slav

Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel's next meeting, according to the Kuwaiti oil minister. "The…

Hurricane Ida Shuts In 95% Of U.S. Gulf Coast Oil Output

Aug 30, 2021 at 08:28 | Charles Kennedy

As much as 95 percent of oil production in the U.S. section of the Gulf of Mexico has been shut in, as hurricane Ida passed through it before making

U.S. Rig Count Inches Higher As Prices Recover

Aug 27, 2021 at 12:14 | Julianne Geiger

The number of oil and gas rigs in the United States rose by 5 this week, according to Baker Hughes—after rising by 3…

Fujairah Oil Terminal To Upgrade As Crude Trade Is Expected To Surge

Aug 27, 2021 at 11:42 | Tsvetana Paraskova

The Fujairah Oil Terminal (FOT) is upgrading its infrastructure to link the storage site with a key crude pipeline and the terminal for supertankers at the Port of Fujairah, in…

Emerging Economies Deserve A Chance At Oil Riches, Too

Aug 27, 2021 at 10:36 | Felicity Bradstock

Emerging economies must continue to rely on fossil fuels while demand is high, largely ignoring the developed world’s green transition and taking this opportunity to develop their economies…

Cocaine Production Soars In Colombia As Oil Industry Crumbles

Aug 27, 2021 at 10:33 | Matthew Smith

Conflict-torn Colombia’s economically crucial oil industry continues to labor under the pressure of an array of threats.After being severely impacted by the pandemic oil output in…

Oil-Rich Nations Face Growing Pressure To Go Green

Aug 27, 2021 at 10:21 | Felicity Bradstock

Governments in long-established oil-rich nations around the world are coming under fire for their decisions over oil and gas versus renewable alternatives. The once-coveted natural resource is now…

Mexico’s Pemex Struggles To Restore Oil Output Lost After Fatal Fire

Aug 27, 2021 at 10:00 | Tsvetana Paraskova

Mexico’s state-owned oil firm Pemex has restored part of the oil production suspended after Sunday’s fatal fire that killed seven people, but the pace of output recovery could be slower…

The Future Of Oil Is Offshore

Aug 26, 2021 at 13:17 | Irina Slav

Brazil and its tiny neighbors Guyana and Suriname have recently risen to prominence with major oil discoveries despite what most would see as an unfavorable environment—the energy transition…

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