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Energy / Crude Oil

OPEC logo

OPEC+ Scraps Meeting As Oil War Heats Up

Mar 16, 2020 at 11:06 | Tsvetana Paraskova

Attempts by some OPEC members to mediate between the cartel’s leader, Saudi Arabia, and Russia have failed and this Wednesday’s meeting of an OPEC+ technical committee has been scrapped amid…

SPR crude

Largest Oil Glut In History Could Force Crude Prices Even Lower

Mar 16, 2020 at 09:13 | Tsvetana Paraskova

The oil market is heading for the largest ever crude glut in the first half of 2020, which could be two to nearly four times bigger than the biggest surplus…

Alekperov Putin

Why Didn’t Russia Just Cut Oil Production?

Mar 13, 2020 at 18:24 | Robert Rapier

Last week OPEC conducted meetings with a coalition of partners that have worked together to limit oil production since 2016. It was widely reported that the group hoped to come…

Big Oil Burning Cash

Big Oil Is Burning Cash In The Permian

Mar 13, 2020 at 18:19 | Alex Kimani

Global oil giants are facing ever-increasing public pressure and higher levels of scrutiny over their responsibility to curb harmful greenhouse emissions. Yet, in the sprawling oilfields of Texas, New Mexico…

Tanker

U.S. Looks To Snag Market Share From Russia In Its Own Backyard

Mar 13, 2020 at 18:09 | RFE/RL staff

The U.S. State Department has announced "the willingness of U.S. companies to begin immediately selling oil to Belarus at competitive market prices" in a clear signal to Minsk -- and…

Oil pump

How Long Will The Oil Price War Actually Last?

Mar 12, 2020 at 16:58 | David Messler

The last few weeks have been humbling for those of us who make prognostications about the direction the oil markets may take. Especially so for the bulls, folks who think…

Oil tanks

Saudi Arabia Strikes Back At Russia In Key Oil Market

Mar 12, 2020 at 12:38 | Tsvetana Paraskova

The world’s top oil exporter Saudi Arabia is going after Russia’s oil market share in Europe with deeply discounted Arab Light crude at up to three times the usual volumes, people…

Shale

Why Fracking Will Never Be Banned In The U.S.

Mar 11, 2020 at 17:43 | Julianne Geiger

Several democratic presidential candidates have proposed fracking bans, but oil companies have room to breathe easily knowing that killing off fracking in the US is a bit too big of…

Gasoline pump

OPEC Now Sees Zero Growth In Global Oil Demand In 2020

Mar 11, 2020 at 14:32 | Tsvetana Paraskova

Due to the coronavirus outbreak weighing on economic growth, OPEC now sees global oil demand rising by mere 60,000 bpd in 2020 after it has slashed its forecasts by 920,000…

Mexico offshore

Mexico’s Oil Hedge Just Saved Its Economy

Mar 11, 2020 at 13:51 | Haley Zaremba

Petroleos Mexicanos has been in an unrelenting downward spiral for decades. Pemex, Mexico’s state-owned oil company, has seen a vast and speedy decline of its production rates for the last…


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