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Energy / Crude Oil

A Glimmer Of Hope For Colombia's Struggling Oil Industry

Nov 06, 2020 at 17:43 | Matthew Smith

Despite significant headwinds, including a prolonged oil price slump, Colombia’s national oil company Ecopetrol reported a solid third quarter 2020 profit with net…

Iraq Busted Its OPEC+ Oil Production Quota In October

Nov 05, 2020 at 12:39 | Tsvetana Paraskova

Iraq’s crude oil production rose in October and exceeded its quota and compensation target under the OPEC+ agreement, Argus reported on Thursday, quoting state oil marketing firm SOMO.  …

China’s Crude Oil Imports Sink In October

Nov 05, 2020 at 10:09 | Irina Slav

China’s crude oil imports fell by 4.88 percent last month from a month earlier, data analytics provider OilX reported. At 10.96 million bpd, imports were more than 560,000 bpd lower…

Aramco’s Profit Drop Is A Dire Warning For Saudi Arabia

Nov 04, 2020 at 16:47 | Cyril Widdershoven

By reporting a 44.6% decrease in profits in Q3 2020, Aramco has put a major damper on Saudi Arabia’s economic diversification strategies and overall stability. Saudi Aramco reported…

Four OPEC+ Members Favor Extended Cuts

Nov 04, 2020 at 08:34 | Irina Slav

Three members of OPEC and Russia are in favor of an extension of the current oil production cuts agreed by OPEC+ in April this year, Iraqi news agency Shafaq has…

Rise In COVID Cases May Force OPEC To Do The Unthinkable

Nov 03, 2020 at 17:49 | Julianne Geiger

With the most recent round of coronavirus-inspired lockdowns in various parts of the world, OPEC may face its biggest challenge yet: cutting even more production

Venezuela's Oil Exports Continue To Plunge

Nov 03, 2020 at 09:52 | Irina Slav

Venezuela’s crude oil exports last month fell further, to a low of 359,000 bpd, Reuters reported, citing official data. The decline was the result of the expiry of a…

Argentina Is In Desperate Need Of An Oil Boom

Nov 02, 2020 at 16:00 | Matthew Smith

The administration of Argentina’s President Alberto Fernández is growing increasingly desperate to restart the burgeoning oil boom which was underway before the COVID-19 pandemic hit. Argentina has been…

Why Is Russian Oil So Expensive?

Nov 02, 2020 at 15:49 | Viktor Katona

The prospect of a 2nd coronavirus wave and consequent demand slump is putting substantial downward pressure on crudes in Europe. Differentials are weakening as most refineries run their distillation units…

The Future Landscape Of U.S. Oil

Nov 02, 2020 at 12:41 | Irina Slav

Crude oil last week dived below $40 as the resurgence of Covid-19 cases in Europe prompted new national lockdowns in France and Germany—so far. Yet fears have deepened that…

Libya Oil Output Hits 800,000 Bpd

Nov 02, 2020 at 11:05 | Irina Slav

Libya’s crude oil production has reached 800,000 bpd, Reuters has reported, citing sources in the know. This is a 100,000-bpd increase in just a few days, the report added.…

Trump Signs Order To Protect Fracking

Nov 02, 2020 at 10:09 | Charles Kennedy

President Donald Trump has signed an order aimed at protecting the shale oil and gas industry, he said in a tweet. “Just signed an order to protect fracking and the…

Biden Win Could Cause A Huge New Oil Glut

Oct 30, 2020 at 18:21 | Tsvetana Paraskova

As if the oil market needed another uncertainty in the year of the pandemic, a Joe Biden win at next week's U.S. presidential election could have a significant…

A Wave Of Stranded Oil Assets Is Coming To The U.S. Shale Patch

Oct 30, 2020 at 18:17 | Tsvetana Paraskova

The coronavirus crisis and the crash in oil prices has unleashed a new wave of mergers and acquisitions (M&A) in the industry, most…

Can Ecuador Save Its Ailing Oil Sector?

Oct 30, 2020 at 18:15 | Matthew Smith

The tiny impoverished Latin American country of Ecuador continues to struggle with its legacy of resource nationalism. Even a push by the current administration of President Lenin Moreno…

Oil Crisis And Recession Bring Two African Rivals Closer Together

Oct 30, 2020 at 18:07 | Viktor Katona

Times of recession usually bring up overused terms like belt-tightening or company restructuring though distressed periods are just as useful for settling old scores and shaping up new…

How The Oil Industry Fared Under The Last Nine U.S. Presidents

Oct 30, 2020 at 18:03 | Robert Rapier

With the 2020 presidential election looming — and with many claims and counterclaims about a president’s impact on the oil industry — I thought it might be of…

U.S. Rig Count Rises Despite Coronavirus Threat

Oct 30, 2020 at 12:29 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 221. The total number of active oil and gas rigs increased…

Oil Hits 5-Month Lows As COVID Cases Surge

Oct 30, 2020 at 11:07 | Irina Slav

Crude oil collapsed earlier this week after France and Germany announced new lockdowns in response to surging Covid-19 cases, and now it is set for its worst month since late…

Oil Investments Are Drying Up As Crude Demand Falters

Oct 29, 2020 at 14:13 | Irina Slav

Thirty-five percent: this is the size of the spending cuts oil and gas companies are likely to have made this year in response to the effects that the…

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