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Saudi Arabia

Saudi Arabia’s Oil Price War Is Backfiring

Saudi Arabia’s controversial oil price…

OPEC logo

OPEC+ Scraps Meeting As Oil War Heats Up

The OPEC+ technical committee has…

Energy / Crude Oil

Shale rig

Shale Decline Inevitable As Oil Prices Crash

Feb 25, 2020 at 17:34 | Nick Cunningham

The U.S. shale industry continues to show signs of slowing down, with production declining in major shale basins outside of the Permian. Financing stress has plagued the shale sector for…

China gasoline

China Floods The Market With Fuel As Coronavirus Shatters Local Demand

Feb 25, 2020 at 14:12 | Tsvetana Paraskova

China’s fuel exports are booming amid battered domestic demand due to the coronavirus outbreak, analysts and trade sources tell Reuters as higher Chinese exports flood the Asian market, which…

Prince Abdulaziz

Saudi Arabia: OPEC Should Pay Serious Attention To Coronavirus

Feb 25, 2020 at 12:40 | Tsvetana Paraskova

The OPEC+ group should not be complacent about the impact of the coronavirus outbreak on oil demand, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told reporters on Tuesday,…

Refinery China

No Financing And No Demand: Chinese Refiners Run Into Trouble

Feb 25, 2020 at 10:16 | Irina Slav

International banks are suspending credit lines for some independent oil refiners worried about the growing risk of defaults across industries because of the coronavirus epidemic, Reuters reports, citing industry…

Oil storage

This Country Could Soon Become The Biggest Buyer Of U.S. Oil

Feb 24, 2020 at 13:07 | Tsvetana Paraskova

South Korea, the world’s fifth largest crude oil importer, is set to purchase growing volumes of U.S. oil this year to the point of overtaking Canada as the top destination…

stocks

Hedge Funds Selling In Oil Slows Down For Third Week

Feb 24, 2020 at 12:04 | Tsvetana Paraskova

Money managers continued to liquidate long positions in oil futures as the coronavirus outbreak batters oil demand, but the pace of selling slowed down again last week, for a third…

OPEC flag

The 3 OPEC Countries Considering Deeper Output Cuts

Feb 21, 2020 at 10:44 | Tsvetana Paraskova

Saudi Arabia and its Gulf Arab neighbors and large fellow OPEC producers the United Arab Emirates (UAE) and Kuwait are discussing this week a potential joint oil production cut of…

Oil tankers

EIA Cuts 2020 Oil Demand Forecast By 378,000 Bpd

Feb 19, 2020 at 09:01 | Irina Slav

After on Friday OPEC slashed its oil demand outlook for this year by 230,000 bpd, the Energy Information Administration followed, revising its global oil demand forecast by as much as…

Khafji field

Restarted Saudi, Kuwaiti Oilfields To Pump 550,000 Bpd By End-2020

Feb 17, 2020 at 12:24 | Tsvetana Paraskova

The total production from the two oilfields that Saudi Arabia and Kuwait share would reach 550,000 bpd by the end of the year, Kuwait’s Oil Minister Khaled al-Fadhel said…

Coronavirus

What Will Oil Prices Do After The Coronavirus?

Feb 14, 2020 at 17:24 | Irina Slav

The coronavirus outbreak in China has hogged headlines for a month now, battering oil prices and sending OPEC into a frenzy to find a way to stop or at least…


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