U.S. shale has provided that…
When the illusion of unending…
The United States announced a release from its Strategic Petroleum Reserve (SPR) on Tuesday, saying at the same time that it hopes OPEC+ would continue to add 400,000…
President Biden’s threat to oil producers that he would force prices down has already backfired. Oil markets were unimpressed by the U.S. administration’s plan to coordinate a strategic…
The U.S.-sponsored ‘relationship normalisation’ deal signed last year between Israel and the UAE is a core element of Washington’s attempt to counterbalance the advance of China and Russia…
The volume of the expected Chinese release of crude oil from its state reserves will be decided according to the country's actual needs, China said on Wednesday, declining to comment…
Crude oil inventories rose last week, while gasoline inventories declined, the Energy Information Administration said on Wednesday. The EIA has reported that crude oil inventories increased by 1 million barrels…
Media reports about the joint release of millions of barrels of oil by the United States, China, and Japan prompted a selloff across oil futures contracts and a…
A potential ban on crude oil exports is under consideration at the White House, a Democratic Congressman told Bloomberg, adding that “The economics of it makes sense.” Rep. Ro Khanna,…
US President Joe Biden announced on Tuesday that the Department of Energy would release 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) in a bid to…
Reinvestment rates among US shale oil producers hit an all-time low in the third quarter of 2021, resulting in a record free cash flow for the quarter, and…
India is ready to join the global efforts of major oil consumers led by the United States to reduce oil prices. The world's third-largest oil importer, India, plans to release…
This week, the Najah’s Desert Oasis gas station in southeastern California put up a sign of the times. It read: $6.39 for regular. This remote…
Oil prices have dipped to their lowest levels in six weeks, with both Brent and WTI dropping below the psychologically important $80 per barrel mark for the first…
Crude oil prices are set to decline next year from the current levels of around $80 a barrel as global inventories will start to build again with supply rising more…
China is preparing to release crude oil from its strategic reserve, Reuters has reported, citing the country's National Food and Strategic Reserves Administration. The news comes on the heels…
The newly resuscitated Iraq National Oil Company (INOC) has been authorised by the government in Baghdad to directly negotiate with U.S. oil giant,…
Rystad Energy’s annual cost of supply analysis has revealed that costs within the upstream sector have come down considerably in 2021, making new oil more competitive and significantly cheaper to produce.…
Crude oil prices gained today after the Energy Information Administration reported a crude oil inventory draw of 2.1 million barrels for the week to November 12. At 433 million…
President Joe Biden has asked his Chinese counterpart Xi Jinping to release more crude oil from its reserves in concert with the U.S., in a bid to stabilize international oil…
There is a case that can be made that the present day liquidity profile and reduced capital investment in upstream sources for new supplies of petroleum, match the similar scenario…
Led by production increases in Saudi Arabia and Russia, the OPEC+ group raised its October oil output by 490,000 barrels per day (bpd), TASS news agency quoted the International…