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Energy / Crude Oil

Oil Rig Count Rises As Brent Prices Flirt With $70

May 28, 2021 at 12:13 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 again this week, bringing the total rig count to 457—a…

OPEC+ Set To Proceed With Plans To Boost July Oil Production

May 27, 2021 at 14:47 | Tsvetana Paraskova

The OPEC+ group is expected to confirm next week its May-July plan to ease the oil production cuts by the planned 840,000 barrels per day (bpd) in July, OPEC+ delegates…

Is There A Huge Undisclosed Short In Oil Explorer Reconnaissance Energy Africa?

May 27, 2021 at 14:21 | Charlie Danes

One of our picks for the most exiting oil plays of the last decade, Reconnaissance Energy Africa (TSX.V: RECO, OTCMKTS:RECAF) appears it may have come under heavy short…

Sanctions-busting Iranian Pipeline To Make First Shipment In June

May 26, 2021 at 15:57 | Simon Watkins

Iran’s Goreh-Jask oil pipeline is due to ship its first crude oil in June, with all construction having finished last week. This pipeline will enable Iran to transport huge quantities…

Oil Prices Bounce Back On Bullish Inventory Data

May 26, 2021 at 09:40 | Irina Slav

A day after the American Petroleum Institute reported a minor crude draw that nevertheless strengthened prices, the Energy Information Administration confirmed a draw, at 1.7 million barrels for…

Russia: Current Oil Market Deficit Is 1 Million Bpd

May 26, 2021 at 08:48 | Charles Kennedy

Russia estimates that the global oil market is currently in a deficit of around 1 million barrels per day (bpd), Deputy Prime Minister Alexander Novak said on Wednesday. “There…

Barclays: Reopening Economies Drive Oil Demand Higher

May 21, 2021 at 13:03 | Tsvetana Paraskova

Global oil demand is recovering with major economies reopening amid a cautious supply approach from OPEC+ and restraint in U.S. shale, Barclays said on Friday. Despite the possibility of a…

Rig Additions In U.S. Top 100 For 2021

May 21, 2021 at 12:11 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 455—a more…

OPEC Slams IEA’s Net-Zero Report As ‘Destabilizing’

May 21, 2021 at 09:05 | Tsvetana Paraskova

The bombshell suggestion of the International Energy Agency (IEA) that the world doesn’t need any new oil and gas investments ever if it is to reach net-zero emissions could further…

U.S. Shale Is Finally Giving Shareholders A Payday

May 20, 2021 at 16:52 | Tsvetana Paraskova

Unlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth…

Oil Demand Set To Surge As Travel Picks Up

May 20, 2021 at 16:13 | Felicity Bradstock

As restrictions ease across Europe, we are slowly seeing a resurgence in fuel demand for travel, not only in gasoline and diesel but also in jet fuel as…

There Is Light At The End Of The Tunnel For Argentina’s Oil Industry

May 20, 2021 at 15:01 | Matthew Smith

Protests and civil dissent are once again sweeping across Latin America, a region infamous for its political instability and economic inequality. While Colombia’s security crisis

Asia’s Physical Oil Market Strengthens In Sign Of Rising Demand

May 20, 2021 at 09:18 | Tsvetana Paraskova

China and Japan have recently intensified purchases of crude oil on the spot market, driving spot premiums for some grades to their highest in several months and signaling that Asia’s…

The IEA May Have Given OPEC A Huge Gift

May 19, 2021 at 18:02 | Irina Slav

An immediate halt to oil exploration is one of the steps that need to be taken in order for the world to reach Paris Agreement climate change commitments. That’s what…

Oil Prices Tumble As Crude Inventories Rise

May 19, 2021 at 09:40 | Irina Slav

Crude oil prices moved further down today after the Energy Information Administration reported a crude oil inventory build of 1.3 million barrels for the week to May 14. This…

Heavy Rains Reduce Gulf Coast Refinery Output

May 19, 2021 at 09:03 | Charles Kennedy

Four refineries on the U.S. Gulf Coast have reduced their processing rates because of heavy rains and flooding in East Texas and Louisiana. The severe weather conditions are forecast to…

The IEA’s Latest Proposal Is Both Reckless And Impossible

May 18, 2021 at 17:05 | Cyril Widdershoven

The International Energy Agency,  which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as…

Colombia’s Oil Industry Is On The Brink Of Collapse

May 18, 2021 at 16:06 | Matthew Smith

Colombia’s oil industry is yet again under considerable pressure, despite the national government in Bogota attempting to reactivate the economically crucial sector. The March 2020 oil price crash,…

IEA: Net-Zero Goal Means No More New Oil And Gas Investment Ever

May 18, 2021 at 09:01 | Tsvetana Paraskova

The world doesn’t need any new investments in oil and gas beyond what is already approved if it hopes to achieve net-zero emissions by 2050, the International Energy Agency (IEA)…

Why A Shale Comeback Could Be Disastrous For Oil Markets

May 17, 2021 at 18:04 | Alex Kimani

After having a year to forget in 2020, the energy sector has this year emerged as the best-performing of all 11 U.S. market sectors. Energy Select Sector SPDR ETF (NYSEARCA:XLE)…

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