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Energy / Crude Oil

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

Canadian Oil Drilling Forecast Gets Slashed Again

Jul 30, 2020 at 11:06 | Irina Slav

Some 2,800 new wells will be drilled in Canada this year, according to the Petroleum Services Association of the country. This is the third downward revision the PSAC has made…

Trump Vows To Revive U.S. Oil Industry

Jul 30, 2020 at 09:06 | Tsvetana Paraskova

U.S. President Donald Trump touted America’s energy independence and vowed that the oil industry will never again be reliant on hostile foreign suppliers in a speech in Midland, Texas.…

Why Iran And China Are Pushing Iraq To Boost Oil Production

Jul 29, 2020 at 17:29 | Simon Watkins

There are four key reasons why Iraq is increasing the pace of development on a number of its major oil fields right now. First, it needs the money;…

The Cowboy State Looks To Stimulate Oil Drilling With Tax Cuts

Jul 29, 2020 at 13:02 | Charles Kennedy

Wyoming regulators look to stimulate oil production in the state with a new tax relief proposal that calls for a tax exemption until the price of WTI reaches $45 per…

Oil Rallies On Biggest Crude Inventory Draw Since 2019

Jul 29, 2020 at 09:52 | Irina Slav

U.S. crude oil inventories shed an impressive 10.6 million barrels in the week to July 24, the Energy Information Administration reported today. This compares with a build of…

U.S. Refiners Brace For Ugliest Losses In A Decade

Jul 29, 2020 at 09:02 | Tsvetana Paraskova

Due to the demand crash in the lockdown, the seven largest independent oil refiners in the United States are expected to report losses for the second quarter that would be…

Oil Buyers Profit From A Wave Of Cheap Fuel

Jul 28, 2020 at 16:03 | Irina Slav

The downstream industry has been affected particularly severely by the unique combination of events that unfolded this year. On the one hand, the coronavirus pandemic decimated demand for…

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