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Energy / Crude Oil

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…

Saudi Arabia Hikes July Crude Oil Exports To Six-Month High

Sep 16, 2021 at 13:01 | Tsvetana Paraskova

Saudi Arabia’s crude oil exports rose to above 6 million barrels per day (bpd) in July, to the highest volume in six months, as the OPEC+ alliance continued to ease…

Can Iran Overcome U.S. Sanctions And Become A Top Oil Producer?

Sep 16, 2021 at 10:53 | Felicity Bradstock

Two weeks ago, Iran announced it was planning to boost oil output and exports despite ongoing sanctions by the U.S. As we see continually increased output from Iran…

Argentina Attempts To Revive Its Oil Boom

Sep 16, 2021 at 10:33 | Tsvetana Paraskova

Argentina’s government has unveiled a bill to promote investment in oil and gas in the country with the ultimate goal to boost hydrocarbon production from its key shale play and…

Russian Oil Exports Under Fire As Iraq Slashes Prices

Sep 15, 2021 at 14:59 | Tsvetana Paraskova

The price of Russia’s flagship Urals grade slumped this week as Russian supply and exports are set to grow and as Iraq cuts the price of its crude for…

Oil Prices Rise Further On Large Crude Inventory Draw

Sep 15, 2021 at 09:39 | Irina Slav

Crude oil prices went up today on bullish news from the U.S. Energy Information Administration, which reported a 6.4-million-barrel draw in crude oil inventories and another draw in fuel…

China’s Oil Sale Is A Clear Message To OPEC+

Sep 14, 2021 at 17:12 | Irina Slav

China made headlines last week with the news that it was going to release some crude oil from its strategic petroleum reserve and sell it in a move…

IEA Sees Robust Oil Demand In October

Sep 14, 2021 at 10:27 | Tsvetana Paraskova

After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end…

Texas Oil Industry Braces For Impact As Hurricane Nicholas Makes Landfall

Sep 14, 2021 at 09:16 | Irina Slav

Tropical storm Nicholas, which was upgraded to a Category 1 hurricane yesterday, made landfall in the early hours of Tuesday in the Matagorda Peninsula, threatening dangerous flooding in the…

Exxon’s Big Bet On Guyana Is Starting To Pay Off

Sep 10, 2021 at 11:47 | Matthew Smith

After commencing exploration drilling in offshore Guyana in 2015 the world’s second largest publicly listed oil company by market cap ExxonMobil experienced stunning success

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