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Energy / Crude Oil

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…

Oil Rig Count Inches Higher As WTI Holds Below $70

Mar 24, 2023 at 12:17 | Julianne Geiger

The total number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig…

Ominous Oceans: Shadow Tankers Endanger Global Waters

Mar 23, 2023 at 11:11 | Michael Kern

A growing number of oil tankers, part of an unofficial "shadow" fleet, are transporting oil from countries impacted by Western sanctions. These tankers, moving oil from Iran, Russia, and Venezuela,…

U.S. Jobs Data Provides Support For Oil After Volatile Week

Mar 23, 2023 at 09:59 | Michael Kern

Oil prices managed to stabilize on Thursday, recovering from their lowest levels since late 2021 earlier this week, as encouraging U.S. employment data balanced out negative indicators from…

Major Products Draws Send Oil Prices Higher

Mar 22, 2023 at 09:44 | Irina Slav

Crude oil prices climbed today, after the U.S. Energy Information Administration reported another weekly build in crude oil inventories of 1.1 million barrels. That compared with a build of…

How OPEC Has Filled America’s Russian Oil Void

Mar 21, 2023 at 12:44 | Alex Kimani

A little over a year ago, the United States government banned the importation of Russian crude, petroleum, oils and products of their distillation,…

Are Big Oil's Best Days Behind It?

Mar 21, 2023 at 12:25 | Tsvetana Paraskova

By approving a scaled-down project for new drilling in Alaska, even the Biden Administration tacitly admitted that oil and gas would be needed for decades regardless of the pace of…

U.S. Oil Exports To Europe Hit Record High

Mar 21, 2023 at 04:39 | Tsvetana Paraskova

U.S. crude oil exports to Europe hit a record high in March, due to a wide WTI to Brent discount in January which prompted many spot deals for the cheaper…

Goldman Sachs No Longer Sees $100 Oil In 2023

Mar 20, 2023 at 11:39 | Irina Slav

Last week, oil prices booked their worst week since the start of the year, dropping off a cliff on renewed fears about the global economy after the collapse…

Is Chinese Demand Growth Now The Only Bullish Driver For Crude?

Mar 17, 2023 at 12:03 | Tsvetana Paraskova

China’s recovery is underway, and many anticipate that China’s recovery will mean calls for additional crude oil, bolstering oil prices. But China’s economic reemergence is anything but a sure thing…

The Willow Oil Controversy, Explained

Mar 17, 2023 at 10:04 | Felicity Bradstock

After years of uncertainty, ConocoPhillips’ Willow project has finally got the green light in Alaska. Stakeholders were unsure whether Willow would go ahead after several delayed oil and gas leases…

Oil Majors Juggle Cheaper Crude With Lower Emissions

Mar 16, 2023 at 10:52 | Tsvetana Paraskova

The world’s biggest international oil and gas firms continue to pledge lower-emission operations to supply the world with the hydrocarbons it needs and will need in the future.   …

Did The EIA Finally Get Realistic About U.S. Shale Output?

Mar 16, 2023 at 10:15 | ZeroHedge

  Readers will recall that, for the last several months, I have noted that US oil production per the EIA's weekly Petroleum Status Report

Oil Falls Despite Large Draws In Fuel Inventories

Mar 15, 2023 at 09:39 | Irina Slav

Crude oil prices moved lower today after the U.S. Energy Information Administration reported an inventory build of 1.6 million barrels for the week to March 10. This compared…

UK Considers Easing Windfall Tax Pressure On Oil And Gas

Mar 15, 2023 at 08:59 | City A.M

The government is weighing up plans to bring in a price floor for the windfall tax amid fears Equinor could pull out of the proposed Rosebank oil and…

Oil Nosedives After SVB Collapse

Mar 14, 2023 at 15:44 | Irina Slav

Last Friday, the banking regulator of California shut down Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation as receiver of its assets. The sudden collapse tech and climate…

India’s Opportunistic Pursuit Of Cheaper Oil From Russia

Mar 14, 2023 at 09:37 | Ag Metal Miner

Via AG Metal Miner  As the old saying goes, “one man’s crisis is another’s opportunity.” Russia’s invasion of Ukraine and the subsequent sanctions and ruined trade relationships with…

Ban On IOCs In Iraqi Kurdistan May Be Lifted

Mar 14, 2023 at 09:23 | Simon Watkins

The recent signing by Iraq’s federal government in Baghdad of three long-term oil and gas sector contracts with the UAE’s Crescent Petroleum –…

China’s Economic Upswing May Not Boost Oil Prices

Mar 13, 2023 at 10:20 | Simon Watkins

The massive disparity between China’s enormous economy-driven energy needs and its minimal level of domestic oil and gas reserves meant that the country was the key driver of…

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