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Energy / Crude Oil

Saudi Arabia Hikes Oil Prices Despite Record Discounts For Russian Crude

Mar 28, 2022 at 12:44 | Gerald Jansen

Russia’s invasion of Ukraine has simultaneously both eased and complicated the task of Middle Eastern national oil companies. On the one hand, it had pushed the backwardation in…

Alaska Is Reaping The Benefits Of High Oil Prices

Mar 28, 2022 at 12:30 | Tsvetana Paraskova

Thanks to skyrocketing oil prices, Alaska is reaping billions of U.S. dollars more than expected. As crude oil surged in recent months, the state where oil revenues account…

U.S. Oil Rig Count Rises But Production Lags Behind

Mar 25, 2022 at 12:20 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 7 this week, as WTI trades at more than $113 per barrel. The total rig count increased…

Iran Prepares To Ramp Up Oil Production To 4 Million Bpd

Mar 24, 2022 at 13:09 | Charles Kennedy

Iran plans to boost its crude oil production to 4 million barrels per day (bpd) in the new Persian year that started this week, Mohsen Khojasteh Mehr, chief executive of…

Top Oil Traders See Oil Topping $200 By End-2022

Mar 24, 2022 at 08:59 | Irina Slav

Some of the world’s biggest oil traders expect oil prices to exceed $200 per barrel by the end of the year, the Financial Times reported, citing opinions shared at…

No One Really Knows What’s Next For Russian Oil

Mar 23, 2022 at 13:21 | Alex Kimani

It’s exactly one month since Russia invaded Ukraine, and the oil markets remain as volatile as ever with little clarity as to how direct and self-sanctions will impact…

Déjà Vu: Skyrocketing Oil Prices Spark Fears Of A Global Recession

Mar 23, 2022 at 13:05 | Tsvetana Paraskova

The more Russian oil supply comes off the market in the coming months, the higher the chances of a global recession later this year, economists and analysts have…

Oil Prices Bolstered By Falling Crude Inventories

Mar 23, 2022 at 09:36 | Irina Slav

Crude oil prices continued up today after the Energy Information Administration reported a crude oil inventory draw of 2.5 million barrels for the week to March 18. This

Big Oil Is No Longer “Unbankable”

Mar 22, 2022 at 12:14 | Alex Kimani

It’s an open secret within energy circles that the eventual death of oil and thermal coal won’t come from environmentalists or even directly from renewable energy,…

U.S. Sees Highest Gasoline Demand Since At Least 2017

Mar 22, 2022 at 11:03 | Tsvetana Paraskova

This past Sunday registered the highest gallons count of gasoline demand GasBuddy has ever recorded in data going back to 2017, Patrick De Haan, head of petroleum analysis for the…

BofA: Critical Levels At Cushing May Lead To Historic Short Squeeze In Oil

Mar 22, 2022 at 08:54 | Charles Kennedy

Crude oil inventories at the Cushing hub in Oklahoma have fallen to the lowest seasonal level since the start of the shale revolution in the U.S., threatening sudden heightened price…

OPEC+ Oil Production Is 1 Million Bpd Lower Than Target Level

Mar 18, 2022 at 11:24 | Tsvetana Paraskova

The OPEC+ group continues to severely underperform in its oil production levels compared to the target in the pact, with February output at more than 1 million barrels per day…

Russia Oil Exports To India Soar On Sanctions

Mar 18, 2022 at 09:59 | Irina Slav

Exports of Russian crude oil to India have surged since the start of the month as sanctions bit in, forcing traders in Europe to avoid Russian cargos, the Financial Times…

Oil Ticks Up As Ukraine Ceasefire Negotiations Stumble

Mar 18, 2022 at 08:31 | Charles Kennedy

Crude oil prices extended their gains from Thursday on news that peace negotiations between Russia and Ukraine have stalled, with both Brent crude and West Texas Intermediate adding…

Russian Oil Exports Rise Despite Reluctant Buyers

Mar 17, 2022 at 14:15 | Charles Kennedy

Seaborne crude oil exports from Russia have been higher so far this month compared to February, but a number of cargoes are awaiting destinations, tanker-tracking firm Petro-Logistics told Reuters…

Why Oil Crashed Back Below $100

Mar 16, 2022 at 12:27 | Alex Kimani

After a torrid three-week rally, energy markets have entered correction mode, with prices moving sharply lower. Over the past week, Brent has slipped 30% from the 7 March…

New Lockdowns In China Could Derail Oil Demand Growth

Mar 16, 2022 at 11:28 | Tsvetana Paraskova

Traffic in several major cities in China has dropped considerably since the authorities imposed this weekend new regional lockdowns as part of the zero-COVID policy. The decline in traffic in…

Oil Prices Continue To Fall As EIA Reports Crude Inventory Build

Mar 16, 2022 at 09:39 | Irina Slav

Crude oil prices moved lower today after the Energy Information Administration reported an inventory build of 4.3 million barrels for the week to March 11. This compared with a…

IEA: Large Scale Oil Supply Disruptions Are Looming

Mar 16, 2022 at 09:04 | Irina Slav

There are likely to be large-scale oil supply disruptions because of the sanctions that could reduce Russian oil exports, the International Energy Agency said in its March Oil Market…

Huge Russian-Run Iraqi Oilfield May See Near-1 Million Bpd Output Boost

Mar 15, 2022 at 14:42 | Simon Watkins

Given the historically elevated oil and gas prices that have resulted from Russia’s invasion of Ukraine, and the lack of a meaningful shift in OPEC+…

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