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South Africa Oil Discovery Could Be A Game-Changer

South Africa Oil Discovery Could Be A Game-Changer

A major discovery of hydrocarbons…

Is This The Point Of No Return For Maduro?

Is This The Point Of No Return For Maduro?

The stakes are rising for…

Energy / Crude Oil

Huge Backlog Could Trigger New Wave Of Shale Oil

Huge Backlog Could Trigger New Wave Of Shale Oil

Jan 18, 2019 at 17:35 | Nick Cunningham

The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has skyrocketed by roughly 60 percent over the past two years. That leaves a rather large backlog…

IEA: OPEC+ Cuts Put Floor Under Oil Prices

IEA: OPEC+ Cuts Put Floor Under Oil Prices

Jan 18, 2019 at 17:30 | Nick Cunningham

The “journey to a balanced market will take time, and is more likely to be a marathon than a sprint.” The International Energy Agency (IEA) said that the OPEC+ cuts…

U.S. Refiners Rush To Buy Heavy Oil As Trump Looks To Punish Maduro

U.S. Refiners Rush To Buy Heavy Oil As Trump Looks To Punish Maduro

Jan 18, 2019 at 10:49 | Irina Slav

Refiners in the United States are stocking up on heavy crude, pushing prices higher, as the Trump administration prepares to slam more punitive measures on Caracas after the inauguration of…

This Is How Much Each OPEC+ Member Needs To Cut

This Is How Much Each OPEC+ Member Needs To Cut

Jan 18, 2019 at 09:28 | Tsvetana Paraskova

OPEC published on Friday the long-awaited list of oil production quotas for each country in the OPEC+ deal, as it seeks to shore up market confidence that the cartel…

U.S. Oil Outlook Slammed By Lower Prices

U.S. Oil Outlook Slammed By Lower Prices

Jan 16, 2019 at 15:55 | Nick Cunningham

The recent slide in oil prices may finally start impacting U.S. oil production forecasts. The plunge in oil prices in November and December spread gloom around the industry. Comments from…

How Much Further Can Venezuela’s Oil Production Fall?

How Much Further Can Venezuela’s Oil Production Fall?

Jan 16, 2019 at 15:24 | Editorial Dept

Ambivalent is the word that best describes the condition Venezuelan President Nicolás Maduro has found himself in. From a formal point of view, his January 10 reinauguration went along smoothly…

Trump Takes Aim At Maduro, Threatens Oil Embargo

Trump Takes Aim At Maduro, Threatens Oil Embargo

Jan 16, 2019 at 13:42 | Irina Slav

A week after Venezuelan President Nicolas Maduro was sworn in for a second term in office, the option of a complete oil embargo against Venezuela has been put back on…

Offshore Spending To Overtake Shale In 2019

Offshore Spending To Overtake Shale In 2019

Jan 16, 2019 at 13:22 | Rystad Energy

Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector…

Crude Oil Inventory Draw Fails To Move Market

Crude Oil Inventory Draw Fails To Move Market

Jan 16, 2019 at 09:47 | Irina Slav

The Energy Information Administration reported a crude oil inventory decline of 2.7 million barrels for the week to January 11 but the report failed to have any palpable effect…

EIA: OPEC Production To Fall By 1 Million Bpd This Year

EIA: OPEC Production To Fall By 1 Million Bpd This Year

Jan 16, 2019 at 09:05 | Irina Slav

The Energy Information Administration expects OPEC’s combined crude oil production this year to be 1 million barrels per day lower than in 2018, when the cartel produced an average 31.92…

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