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U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

U.S. Overtakes Saudi Arabia In Recoverable Oil Reserves

The United States has overtaken…

Oil Inches Higher On Strong Crude Draw

Oil Inches Higher On Strong Crude Draw

Oil prices rebounded on Wednesday…

Energy / Crude Oil

Venezuela’s PDVSA Fails To Meet Oil Supply Obligations

Venezuela’s PDVSA Fails To Meet Oil Supply Obligations

Jun 05, 2018 at 10:05 | Irina Slav

Venezuela’s state oil company PDVSA has told eight foreign clients it will be unable to supply the contracted volumes of crude oil, a company employee told S&P Platts. "Among…

U.S. Asks OPEC To Boost Oil Production By 1 Million Bpd

U.S. Asks OPEC To Boost Oil Production By 1 Million Bpd

Jun 05, 2018 at 08:59 | Tsvetana Paraskova

The United States has quietly asked Saudi Arabia and several other OPEC nations to raise oil production by some 1 million bpd, Bloomberg reported on Tuesday, quoting people familiar…

The Oil Trader Tug-Of-War

The Oil Trader Tug-Of-War

Jun 04, 2018 at 17:03 | Tsvetana Paraskova

Despite the recent sell-off, Brent Crude prices continue to be supported by geopolitical events and supply concerns, while the U.S. benchmark WTI Crude has been pressured to the downside by…

Iranian Crude Exports Rise Despite U.S. Sanctions

Iranian Crude Exports Rise Despite U.S. Sanctions

Jun 04, 2018 at 13:49 | Tsvetana Paraskova

Iran’s crude oil and condensate exports hit 2.7 million bpd in May, higher than its average volumes over the past year, while the U.S. withdrew last month from the…

Expect A Bounce In WTI Prices

Expect A Bounce In WTI Prices

Jun 01, 2018 at 15:45 | Martin Tillier

We are still in a period of headline risk in financial markets generally. Stocks, bonds and currencies are all reacting to news on subjects as diverse as trade, North Korea,…

Rosneft Throws OPEC For A Loop, Boosts Output By 70,000 Bpd

Rosneft Throws OPEC For A Loop, Boosts Output By 70,000 Bpd

Jun 01, 2018 at 09:13 | Irina Slav

Rosneft increased its crude oil production by 70,000 bpd over the last two days, the company told investors, in preparation for an OPEC+ decision to start easing production quotas, Bloomberg…

Why Aren’t Permian Oil Producers Profitable?

Why Aren’t Permian Oil Producers Profitable?

May 31, 2018 at 16:35 | Robert Rapier

The Wall Street Journal recently reported that only five of the Top 20 U.S. oil companies focused mostly on hydraulic fracking generated more cash than they spent in the…

Reuters: OPEC Production Falls To 13-Month Low

Reuters: OPEC Production Falls To 13-Month Low

May 31, 2018 at 14:12 | Tsvetana Paraskova

OPEC’s oil production dropped in May by 70,000 bpd to 32.00 million bpd on the back of outages in Nigeria and a continuous decline in Venezuela that dragged the cartel’s…

Oil Prices Rebound As Crude Inventories Shrink

Oil Prices Rebound As Crude Inventories Shrink

May 31, 2018 at 10:10 | Irina Slav

Crude oil prices moved higher today after the Energy Information Administration reported a draw in crude oil inventories of 4.2 million barrels for the week to May 25, a…

The Oil Giant That Outsmarted Trudeau

The Oil Giant That Outsmarted Trudeau

May 30, 2018 at 16:39 | Nick Cunningham

In a desperate bid to keep its last remaining proposed oil pipeline alive, Canada has decided to buy Kinder Morgan’s Trans Mountain Pipeline system for an estimated C$4.5 billion. Canada…

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