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Energy / Crude Oil

Two-Thirds Of Gulf Oil Production Remains Shut In ahead Of Hurricane Zeta

Oct 29, 2020 at 11:10 | Irina Slav

As much as 66.6 percent of crude oil production in the Gulf of Mexico remained shut in on Wednesday ahead of Hurricane Zeta, with 228 platforms evacuated according to the…

U.S. Oil Production Won’t Reach 13 Million Bpd Any Time Soon

Oct 28, 2020 at 14:23 | Julianne Geiger

If you’re in the camp that is wishfully thinking U.S. oil production will rebound anytime soon north of 13 million barrels per day, U.S. Energy Secretary Dan Brouillette is ready…

Philippines Is Getting Ready To Drill For Oil And Gas

Oct 28, 2020 at 13:49 | Viktor Katona

At a time when the second wave of coronavirus is decimating the world economy, when the Caucasus is smouldering from the consequences of the Karabakh issue and all…

Crude Inventory Build Forces Oil Prices Lower

Oct 28, 2020 at 10:06 | Irina Slav

Crude oil price fell further after the Energy Information Administration reported an inventory increase of 4.3 million barrels for the week to October 23. This compares with a

Will Colombia’s Struggling Oil Industry Ever Recover?

Oct 27, 2020 at 13:04 | Matthew Smith

After a positive start to 2020 there is little evidence of a sustained recovery for the Andean country’s economically crucial oil industry. Significantly weaker oil prices, the COVID-19…

BP CEO: Second Wave Of COVID Hits Oil Demand Harder Than Expected

Oct 26, 2020 at 13:06 | Tsvetana Paraskova

The second wave of coronavirus cases in the world is impacting global oil demand “maybe a little bit more than we thought” in the second half of this year, BP’s…

2021 Could Be A Much Better Year For Canadian Oil

Oct 23, 2020 at 17:39 | Haley Zaremba

It’s been a really tough year for oil nations around the globe, but nearly no one has had it worse than poor Canada. On that infamous day, April…

Biden Says He Would “Transition From The Oil Industry”

Oct 23, 2020 at 10:08 | Charles Kennedy

“I would transition from the oil industry, yes,” Democratic presidential candidate Joe Biden said during last night’s debate with President Donald Trump in response to a question from his opponent. “Would…

Alberta Set To Lift Mandatory Oil Production Cuts In December

Oct 23, 2020 at 09:29 | Tsvetana Paraskova

Alberta is lifting the mandatory curtailment of oil production as of December 2020 since there is enough space on pipelines to allow producers to utilize available pipeline capacity and create…

Another Permian Giant May Be Forced To Consolidate Or Die

Oct 22, 2020 at 16:54 | David Messler

One by one they are starting to fall. The long predicted consolidation wave in U.S. shale players, particularly those with assets in the Permian stacked play, is in…

Global Oil Production Costs Continue To Fall

Oct 21, 2020 at 12:53 | Rystad Energy

A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around $50 per barrel, down around 10%…

Israel And The UAE Sign Historic Oil Deal

Oct 21, 2020 at 12:06 | Tsvetana Paraskova

Israel and the United Arab Emirates (UAE) signed this week a preliminary agreement under which crude oil from OPEC’s third-largest producer could be shipped to European markets via an…

Oil Prices Rebound On Small Crude Draw

Oct 21, 2020 at 09:45 | Irina Slav

Crude oil prices rose today after the Energy Information Administration reported a crude oil inventory decline of 1 million barrels for the week to October 16. The report came…

Trump Blasts Biden's Fracking Plans At Rally

Oct 21, 2020 at 08:56 | Charles Kennedy

President Donald Trump told supporters at a rally that Democratic candidate Joe Biden planned to ban all fracking, taking aim at his opponent's energy plans that would affect one of…

The Big Oil Side Hustle: Where 'Renewable' Money Is Really Going

Oct 20, 2020 at 17:38 | Alex Kimani

"It is unrealistic to suggest that renewables could replace conventional baseload fuels."--Gregory Boyce, former CEO Peabody Energy Corp., 2010. Every time an oil and gas major announces a major foray…

Oil Poised To Rebound, But What About The Long Term?

Oct 20, 2020 at 14:15 | Leonard Hyman & William Tilles

Oil bulls predict demand for oil will snap back quickly as global economic conditions improve. The International Energy Agency (IEA), on the other hand, expects a more muted recovery. Not…

Oil Demand Growth Won’t Be Saved By Petrochemical Boom

Oct 20, 2020 at 13:55 | Tsvetana Paraskova

The pandemic hit the chemical-driven profit margins of integrated oil companies and petrochemical manufacturers to the point that many firms slashed capital expenditures and deferred petrochemical projects for better times.…

Will OPEC+ Decide To Extend Oil Output Cuts?

Oct 20, 2020 at 12:14 | Yousef Alshammari

Oil markets retained strength over the past week despite many bearish factors influencing the global economy. COVID-19 cases spiked in Europe leading to new lockdown measures in France…

Prepare For More U.S. Shale Mergers And Acquisitions

Oct 20, 2020 at 10:58 | Tsvetana Paraskova

The consolidation in the U.S. shale patch is picking up pace after the crash in oil prices earlier this year.    The latest big transaction in the…

A Slow Motion Oil Crisis Is Unfolding In The Carribean

Oct 19, 2020 at 14:02 | Haley Zaremba

There’s nothing quite like the feeling of uncertainty and dread right in the moments before a disaster of gargantuan proportions unfolds in front of our eyes. We might…

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