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Energy / Crude Oil

Hess: Massive Underinvestment In New Production Is A Major Wildcard For Oil

Sep 27, 2021 at 10:54 | Tsvetana Paraskova

The oil industry is “massively underinvesting” in supply to meet growing demand, which is set to return to pre-COVID levels as soon as the end of 2021 or early 2022,…

Nigeria Doubles Down On Oil After Years Of Trouble

Sep 24, 2021 at 15:15 | Felicity Bradstock

After months of stalling because of Covid restrictions and OPEC cuts, as well as significant international criticism over misplaced funds, Nigeria appears to be optimistic about the future…

U.S. Oil Rig Count Jumps As Crude Prices Near 3-Year High

Sep 24, 2021 at 12:15 | Julianne Geiger

The number of oil and gas rigs in the United States rose by 9 again this week, according to Baker Hughes The total rig count is now 521, up 260…

International Oil Companies Are Giving Up On Venezuela

Sep 23, 2021 at 14:02 | Felicity Bradstock

Despite huge oil reserves waiting to be tapped, the ongoing sanctions on Venezuelan oil and the current state of politics and the economy are driving international oil majors…

Cocaine And Crime Are Amplifying Colombia’s Crude Oil Crisis

Sep 23, 2021 at 13:25 | Matthew Smith

For as long as many people remember Colombia has been a violence riven country that has been a major hub in the global cocaine trade. …

Oil Rises To Two-Month High As Inventories Fall

Sep 23, 2021 at 11:02 | Tsvetana Paraskova

Oil prices rose on Thursday to their highest levels since late July after U.S. crude stocks dropped to their lowest in three years and the broader market received more clarity…

Arctic Oil Is Booming Despite Strong Opposition

Sep 23, 2021 at 10:47 | Irina Slav

Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them. A…

Crude Prices Jump On Oil Sands Outages

Sep 23, 2021 at 09:07 | Irina Slav

Syncrude has cut its bitumen production for this month due to a mechanical disruption, Bloomberg has reported, citing an unnamed person familiar with the matter. This will likely contribute…

Soaring Natural Gas Prices Could Lift Oil Demand

Sep 22, 2021 at 11:46 | Tsvetana Paraskova

The current shortage of natural gas and price spikes on the gas markets could be a boon to OPEC, which expects higher demand for other fuels when gas prices are…

Oil Prices Tick Lower After EIA Reports Crude Draw, Gasoline Build

Sep 22, 2021 at 09:41 | Irina Slav

Crude oil prices fell slightly after the Energy Information Administration reported yet another inventory draw, of 3.5 million barrels, for the week to September 17. This compared with a…

The Oil Hub That Could Counter Iran’s Strait Of Hormuz Strategy

Sep 21, 2021 at 16:21 | Simon Watkins

In line with the UAE’s role as a principal member of the U.S.’s new Middle East strategy to counter China’s increasing influence in…

Crude Stocks At Cushing Have Dropped By 42% So Far This Year

Sep 21, 2021 at 11:58 | Charles Kennedy

Rising U.S. oil consumption this year has led to crude oil inventories in Cushing, Oklahoma, dropping by as much as 42 percent so far this year, the Energy Information Administration…

Russia’s Prime Minister Urges Country To Prepare For Post-Oil Era

Sep 21, 2021 at 09:57 | Irina Slav

Russia must start getting used to lower oil, gas, and coal use in the future, Prime Minister Mikhail Mishustin told Russian media, adding that the government will approve a plan…

Shell Exits Permian In $9.5 Billion Deal

Sep 21, 2021 at 08:52 | Irina Slav

Anglo-Dutch oil supermajor Shell is set to leave the Permian with a divestment worth close to $10 billion. The company said it will sell its assets in the shale…

Will South America’s Latest Oil Boom Spark A Military Clash?

Sep 20, 2021 at 15:32 | Matthew Smith

Since the controversial 1899 decision which set the border between Venezuela and Guyana, Caracas has repeatedly contested the ruling, claiming the 61,000 square…

Oil Demand Set To Grow Even After 2050, Energy Expert Says

Sep 20, 2021 at 11:01 | Charles Kennedy

Even after 2050, global oil demand is set to continue to rise because renewables cannot entirely replace fossil fuels, energy markets expert Anas Alhajji said during a recent energy conference…

Consolidation Is Inevitable For Canada’s Oil Industry

Sep 17, 2021 at 11:50 | Irina Slav

The private equity industry is in a rush to leave Canada's oil sands—once a lucrative investment but no longer—as emission reduction takes priority. According to a Reuters…

Oil Ends Week On Bullish Note As Outages Persist

Sep 17, 2021 at 11:49 | Michael Kern

Hurricane Ida is now officially the most devastating hurricane ever in terms of oil production disruption, and experts expect the outages to last throughout the month of September

Will Oil’s Upward Trend Hold?

Sep 17, 2021 at 11:11 | Editorial Dept

Last week, I suggested a trade that bracketed crude, going long on a break above $70 or short should CL drop below $67. That worked out well as a break…

China Back To Stockpiling Crude As Refinery Runs Hit 15-Month Low

Sep 16, 2021 at 14:42 | Tsvetana Paraskova

China is estimated to have sent around 760,000 barrels per day (bpd) of crude oil to its strategic and commercial reserves in August, as refinery throughput in the world’s top…

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