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Energy / Crude Oil

Oil Markets Will Face A Supply Crisis Before Demand Peaks

May 17, 2021 at 17:07 | Alex Kimani

The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks, and a shift towards renewable energy, experts warned that nearly…

OPEC’s Oil Exports Are Surging By 1 Million Bpd In May

May 17, 2021 at 11:05 | Tsvetana Paraskova

OPEC’s oil exports have jumped by 1 million barrels per day (bpd) so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month,…

India Oil Demand Slumps By 20% In May Amid COVID Crisis

May 17, 2021 at 09:03 | Tsvetana Paraskova

Fuel demand in India continues to slump this month amid the COVID crisis in the world’s third-largest oil importer, with Gasoline sales down to a one-year low…

Russia Has Oil Reserves At Least Until 2080

May 14, 2021 at 12:47 | Tsvetana Paraskova

Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week. Russia…

Can Canada Boost Oil Production While Reducing Emissions?

May 13, 2021 at 13:54 | Tsvetana Paraskova

Canada has recently increased its climate commitment by announcing a more ambitious mid-term target for 2030 on its path to net-zero by 2050. Still, the federal government expects…

Middle East Oil Producers Race To Pump Crude And Sell Assets

May 11, 2021 at 14:56 | Irina Slav

Within the last month, Saudi Arabia’s state oil giant Aramco has announced the sale of a minority—but large—stake in its pipeline business, the possibility to sell another 1…

Can Libya’s Oil Industry Make A Comeback In 2021?

May 11, 2021 at 14:00 | Gerald Jansen

The creation of Libya’s interim government has instilled the international community with tacit hopes of a decade-long conflict finally coming to an end. As it is oftentimes the case with…

OPEC Continues To See Strong Oil Demand Recovery In 2021

May 11, 2021 at 10:06 | Tsvetana Paraskova

OPEC is optimistic that accelerating vaccination programs and rising fuel demand will raise global oil demand by 5.95 million barrel per day (bpd) this year despite the current COVID crisis…

OPEC’s Production Increases As Iran Ramps Up Output

May 10, 2021 at 12:10 | Tsvetana Paraskova

OPEC’s crude oil production is estimated to have increased to a three-month high of 24.96 million barrels per day (bpd) in April, thanks to a major jump in Iran’s output,…

Hedge Funds Increase Bullish Bets On Oil

May 10, 2021 at 09:59 | Tsvetana Paraskova

Money managers have accelerated buying in the most important petroleum futures and options contracts, betting that oil prices will increase later this year as economies reopen and…

Chinese Oil Imports Dropped 11% In April

May 06, 2021 at 10:00 | Irina Slav

China’s crude oil imports in April fell by 11 percent, according to energy analytics firm OilX, to 10.41 million bpd. While lower than March volumes, the April average was more…

The Only Venue Where Oil Majors Will Still Spend Big

May 05, 2021 at 14:07 | Tsvetana Paraskova

Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of…

Mozambique Delays Could Disrupt Global LNG Market

May 05, 2021 at 13:05 | Rystad Energy

The global liquefied natural gas (LNG) market, which was set to be constantly loose in the second part of this decade, is instead set to get tighter and could even…

Oil Moves Higher On Largest Crude Draw Since January

May 05, 2021 at 09:39 | Irina Slav

Oil prices moved higher after the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30. In fuels, the inventory…

OPEC Output Flat Ahead Of Planned 600,000 Bpd Boost

May 04, 2021 at 13:16 | Tsvetana Paraskova

OPEC kept its crude oil production essentially flat in April, just before the OPEC+ alliance is set to raise output by 600,000 barrels per day (bpd) in May, a Bloomberg…

Oil Investment Lags Jump In Crude Prices

May 03, 2021 at 15:57 | Irina Slav

Investment in new oil and gas projects last year sank to the lowest in 15 years at $350 billion. As the world continues its battle against Covid-19 and as the…

Russia Boosted Oil Production In April

May 03, 2021 at 09:57 | Irina Slav

Russia produced 10.46 million bpd last month, up by 1.9 percent on March as OPEC+ relaxed its production cuts, Bloomberg reports, citing data from Russia's Energy Ministry. Russia's production…

Africa’s Most Interesting Untapped Oil Play

May 02, 2021 at 10:49 | Viktor Katona

When writing the article on this year’s Top Oil Wildcats, one of the hottest candidates had to be dropped out of the list.…

Canada Is Battling Another Pipeline Cancelation By The U.S.

Apr 30, 2021 at 17:03 | Felicity Bradstock

President Biden is coming under fire for his attack on oil and gas once again as Canada pleads to keep the cross-border Great Lakes oil pipeline open. 

What Will Privatization Mean For India’s Burgeoning Oil Industry?

Apr 30, 2021 at 16:50 | Felicity Bradstock

Indian state-owned oil and gas producer Oil and Natural Gas Corporation Limited (ONGC) is told to sell its stake in the country’s oil fields as part of the…

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