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Energy / Crude Oil

Game-changing Iranian Pipeline Set To Launch In March

Jan 26, 2021 at 11:50 | Simon Watkins

The geopolitically game-changing Goreh-Jask pipeline project saw a major advance last week with the commencement last week of offshore pipe-laying operations. The implementation of this operation markets the first stage…

An Oil Boom Hidden Within One Of America’s Biggest Cities

Jan 25, 2021 at 15:04 | Felicity Bradstock

When you think of giant oil fields you probably conjure up an image of vast areas of land or sea suitable for digging. However, Los Angeles demonstrates that…

U.S. Shale Industry Accelerates As Oil Prices Rise

Jan 25, 2021 at 13:25 | Rystad Energy

The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows.…

Oil Major BP Significantly Downsizes Oil Exploration Division

Jan 25, 2021 at 10:01 | Tsvetana Paraskova

As part of its ambition to reduce oil and gas production and raise investments in clean energy, BP has been cutting staffing levels at its oil and gas exploration division…

Iraq Slashes Oil Output To Compensate For Overproduction

Jan 25, 2021 at 09:05 | Irina Slav

Iraq will pump less oil this month and next to make up for excess production last year, the deputy chief of SOMO, the oil marketing company of Baghdad. For both…

Iran Begins Boosting Oil Production

Jan 22, 2021 at 09:51 | Irina Slav

Iran has started ramping up its crude oil production eyeing a return to pre-sanction levels in a month or two, Deputy Oil Minister Amir Hossein Zamaninia told media, as

Can Shale Resist The Lure Of Another Output Surge?

Jan 20, 2021 at 17:28 | Irina Slav

U.S. shale changed global oil markets. It shook the foundations of OPEC as the one single swing producer group. And last year, it crumbled under the weight of the pandemic…

Saudi Arabia Remained China’s Top Oil Supplier In 2020

Jan 20, 2021 at 13:23 | Tsvetana Paraskova

Saudi Arabia narrowly beat Russia to hold…

Angola Looks To Replicate Brazil’s Offshore Oil Boom

Jan 19, 2021 at 15:02 | Matthew Smith

The sub-Saharan country of Angola is not one which readily springs to mind when thinking about oil producing nations. The deeply impoverished former Portuguese colony, which is an…

UAE’s Oil Giant Looks To Partner With U.S. Shale Companies

Jan 19, 2021 at 12:10 | Charles Kennedy

The Abu Dhabi National Oil Company (ADNOC) is looking to form partnerships with companies from the United States to develop unconventional oil resources in the United Arab Emirates (UAE),

IEA Slashes Oil Demand Outlook For 2021

Jan 19, 2021 at 09:12 | Irina Slav

The International Energy Agency cut its crude oil demand recovery outlook for this year by 300,000 bpd to 5.5 million bpd in its latest Oil Market Report, out today.…

Saudi Output Cut Boosts Demand For Russia’s Urals Crude

Jan 18, 2021 at 12:43 | Charles Kennedy

Russia’s flagship crude grade, Urals, has seen higher demand from European refiners, with prices rising accordingly, since Saudi Arabia announced a surprise additional production cut at the start of this…

Rosneft Starts Work On Mega Arctic Oil Project

Jan 18, 2021 at 12:07 | Vanand Meliksetian

Russia is a country of superlatives. Its energy sector is one of the most important in the world where the country shares the number one position interchangeably with the U.S.…

U.S. Shale Could Be The Biggest Winner Of The Latest OPEC Cuts

Jan 14, 2021 at 16:59 | Julianne Geiger

OPEC, and especially OPEC+, has always seemed to be at odds with the U.S. shale industry. From the drastic oil embargos of the ‘70s to the all-out oil price war…

OPEC Sees Oil Demand Rise To 95.9 Million Bpd In 2021

Jan 14, 2021 at 11:59 | Tsvetana Paraskova

Global oil demand is set to rise by 5.9 million barrels per day (bpd) in 2021 from an estimated average demand of 90 million bpd in 2020, OPEC said on…

The Pandemic Could Lead To A Major Oil Supply Crunch

Jan 13, 2021 at 17:07 | Tsvetana Paraskova

It may be counterintuitive to say that the oil demand crash and the resulting glut in 2020 could lead to an oil supply crunch in just a few…

World’s Top Oil Trader: Airline Travel Won’t Recover Until Late 2021

Jan 13, 2021 at 11:42 | Tsvetana Paraskova

Airline travel will continue to suffer in the first half this year and will only recover, and jet fuel consumption with it, in the back half of 2021, when mass…

Oil Rises On Crude Draw Despite Product Builds

Jan 13, 2021 at 09:43 | Irina Slav

Crude oil prices jumped further today after the Energy Information Administration reported a crude oil inventory draw of 3.2 million barrels for the week to January 8. This compared…

Why A Fracking Ban Won’t Kill U.S. Shale

Jan 12, 2021 at 16:25 | David Messler

One of the things that had the oil industry worried about a Biden administration was his opposition to fracking, and his promise to ban it…

U.S. Oil Drillers To Face More Pain Despite Higher Prices

Jan 12, 2021 at 10:02 | Irina Slav

WTI is back above $50 a barrel, and things are looking up for the battered U.S. oil industry. Yet, although the worst may be behind drillers, they still face a…

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