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Texas Deepwater Oil Export Projects Stall

Texas Deepwater Oil Export Projects Stall

Four projects were planned offshore…

Energy / Crude Oil

$90 Oil Offers The Best-Ever Economics For U.S. Shale

Feb 09, 2022 at 13:01 | Tsvetana Paraskova

The Permian has led U.S. shale production growth in recent months and will continue to do so in the coming months, but the oil price rally so far…

Oil Moves Higher As EIA Confirms Inventory Draws Across The Board

Feb 09, 2022 at 09:35 | Irina Slav

Crude oil prices went up today after the Energy Information Administration reported a crude oil inventory draw of 4.8 million barrels for the week to February 4. A day…

U.S. Oil Output Could Hit Record In 2023: EIA

Feb 09, 2022 at 08:58 | Irina Slav

Crude oil production in the United States could reach 12.6 million barrels daily next year, which would be a record high on an annual-average basis, the Energy Information Administration said…

Guyana’s Oil Boom Has Been Amazing For Its Economy

Feb 08, 2022 at 11:53 | Matthew Smith

The former British colony of Guyana, one of South America’s poorest nations, is undergoing a major economic transformation driven by a massive oil…

Oil Dips As Iran Nuclear Talks Resume At Crucial Final Stage

Feb 08, 2022 at 10:46 | Tsvetana Paraskova

Oil prices fell by 2% early on Tuesday as talks for bringing Iran and the United States back to the so-called Iranian nuclear deal entered a crucial final stage in…

Low Cushing Inventories Could Lead To Higher Oil Prices

Feb 07, 2022 at 11:59 | Tsvetana Paraskova

Crude oil inventories at Cushing, Oklahoma—the designated delivery point for WTI Crude oil futures contracts—have been falling for the past four weeks, reaching what could be uncomfortably low levels and…

Big Oil Isn’t Losing Any Sleep Over The EV Revolution

Feb 04, 2022 at 15:38 | Alex Kimani

With the global energy transition in full swing, few clean energy sectors, if any, are expanding faster than the electric car market. A decade ago, a grand total…

WTI Crude Surges Above $92 On Permian Freeze

Feb 04, 2022 at 08:28 | Tsvetana Paraskova

WTI Crude, the U.S. oil benchmark, jumped to over $92 per barrel early on Friday—its highest level since 2014, amid the Russia-Ukraine crisis and a deep freeze in Texas that…

OPEC’s No.2 Fails To Reach Oil Output Quota

Feb 03, 2022 at 13:41 | Tsvetana Paraskova

OPEC’s second-largest producer, Iraq, is one of the OPEC+ members struggling to boost its oil production as much as its quota in the pact allows, with January output 120,000 barrels…

Major Northwest Europe Oil Terminals Disrupted By Cyberattack

Feb 03, 2022 at 09:45 | Charles Kennedy

Operations at the oil terminals of some of northwest Europe's biggest ports have been disrupted by a large-scale cyberattack, brokers and authorities told AFP on Thursday.   Antwerp in…

Low Oil Inventories Suggest Imminent Supply Deficit

Feb 02, 2022 at 13:59 | Irina Slav

The European gas crunch began when it emerged that the continent's gas inventories were running unseasonably low in the autumn. The whole world saw what this started. 

The Market Is Ignoring The Surge In U.S. Oil Output

Feb 02, 2022 at 13:23 | Alex Kimani

The energy sector's bull run shows no signs of slowing down, with the sector closing comfortably at the top of Tuesday's S&P sector standings, even as

Exxon, Chevron Eye Major Boost In Permian Oil Production

Feb 02, 2022 at 11:36 | Charles Kennedy

Earlier this month, the Energy Information Administration reported that oil output in the Permian shale play had hit a record, and it was going to continue growing. And now,…

Oil Rises Further On Bullish EIA Inventory Data

Feb 02, 2022 at 09:36 | Irina Slav

Oil prices climbed higher today after the Energy Information Administration reported a crude oil inventory decline of 1 million barrels for the week to January 28. In fuels, the…

Oil Prices Jump As OPEC+ Sticks With 400,000 Bpd Output Hike

Feb 02, 2022 at 08:30 | Tsvetana Paraskova

In the shortest meeting so far in its history, OPEC+ decided on Wednesday to increase the collective production by 400,000 barrels per day (bpd) in March, keeping unchanged the…

Goldman Sachs: OPEC+ Could Announce Larger Production Hike

Feb 01, 2022 at 11:44 | Tsvetana Paraskova

OPEC+ may decide on Wednesday to announce a larger production increase for March than the usual 400,000 barrels per day, considering the oil price rally to $90 and the potential…

Guyana Delivers Again: New Discovery Made Offshore

Feb 01, 2022 at 08:55 | Irina Slav

Frontera Energy struck oil in the Corentyne Block offshore Guyana, the company said this week. "Initial results from the Kawa-1 well are positive and reinforce CGX and Frontera's belief…

Big Oil Is Quietly Exploring For More Crude

Jan 31, 2022 at 16:14 | Irina Slav

The International Energy Agency’s Net Zero by 2050 roadmap, issued last year, has become something of a textbook example of bad timing. Just four months later, the agency…

Federal Judge Annuls Massive Gulf Of Mexico Lease Sale

Jan 28, 2022 at 09:02 | Irina Slav

A federal judge threw out the biggest oil and gas lease sale in the Gulf of Mexico on the grounds that the Bureau of Ocean Energy Management broke the environmental…

Has The Oil Market Flipped Into Surplus Territory?

Jan 26, 2022 at 16:12 | Alex Kimani

The energy sector has continued to defy the broad market selloff in the new year, with seven of Tuesday's top eight gainers on the S&P 500…

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