ExxonMobil is poised to be…
While the International Energy Agency…
Recent production cuts by Saudi Arabia are beginning to take a toll on the nation's economy, according to the IMF's latest World Economic Outlook. The Kingdom's…
The direction of oil prices is top news material. Everyone follows oil prices. Many also follow the prices of the most traded oil derivatives, and some may have noticed something…
The total number of active drilling rigs in the United States fell by 5 this week, according to new data from Baker Hughes published Friday. The total rig count fell…
Following several months of increased imports of Russian crude by India, the trend may finally begin to wane as it stockpiles enough to meet the country’s demand. India has favoured…
A couple of days ago, we reported that Big Oil companies Exxon Mobil Corp.(NYSE:XOM) and Chevron Corp. (NYSE:CVX) were set to post huge profit declines mainly due to weaker oil and gas…
For OPEC, it is the best of times and the worst of times – depending on which member you ask. Despite a massive oil price windfall brought on by Russia’s…
After remaining range-bound for much of the second quarter, oil prices have mounted a significant rally, with front-month Brent gaining over 10% since the beginning of…
China has gobbled up a record amount of Russian crude, adding some 2 million bpd to its strategic and commercial inventories last month. This is the highest rate of inventory…
For years, OPEC has warned that not enough is being invested in future oil and gas production on a global scale. For years activists have been calling for an end…
The near collapse of Venezuela’s once colossal oil industry under the weight of endemic corruption‚ and strict U.S. sanctions, along with Mexico’s sputtering mature oil fields, saw…
Crude oil prices fell slightly after the Energy Information Administration reported an estimated draw of 600,000 barrels in U.S. oil inventories for the week to July 21. This…
Stocks of offshore oil and gas drillers and producers have gone on a tear after recent contracts broke records, reversing their seven-year downturn that reached its nadir during the Covid-19…
Saudi Arabia pledged to cut production right after the OPEC+ summit in early June, however, it took the market several weeks to see and properly assess the impact…
Tiny South American country Guyana, which has a population of less than one million, recently emerged as the world’s hottest offshore frontier drilling location. After Exxon’s slew…
Brent oil prices have found a new higher floor at above $80 per barrel in recent days as the market starts to believe in fundamentals while looking out for signs…
Russia’s crude oil exports by sea continued to slump last week and are now well below the February levels and nearly 1.5 million barrels per day (bpd) lower than the…
UK Energy Minister Grant Shapps says the British government intends to extract one-hundred percent of its North Sea oil and gas reserves and still achieve net-zero carbon emissions…
The first signs of a slowdown in activity in the U.S. shale patch emerged earlier this year as declining oil prices prompted drillers to reduce the number of active rigs.…
Global research and consultancy group Wood Mackenzie has predicted that Brazil's private oil companies will increase oil production by 75% from 1.221Mb/d to 2.123Mb/d by 2030. According to WoodMac,…
Historically, giant commodity traders such as Switzerland's Vitol, Glencore, and Gunvor as well as Singapore’s Trafigura have dominated the global oil trade while smaller trading desks that lack the wherewithal and deep infrastructure networks of the giants…