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Oil Prices Slide As EU Leaders Discuss Price Cap On Russian Crude

Oil Prices Slide As EU Leaders Discuss Price Cap On Russian Crude

Amid a US-holiday-week-driven illiquid market,…

Oil Shoots Up On Huge Crude Inventory Draw

Oil Shoots Up On Huge Crude Inventory Draw

Crude prices jumped today after…

Energy / Crude Oil

Russia Exported Record Amounts Of Crude In August

Aug 31, 2022 at 11:02 | Alex Kimani

Six months into Russia’s war on Ukraine, Russia's oil output has continued to exceed expectations. According to data from the Institute of International Finance (IIF), Russian oil shipments

Oil Prices Climb Higher On Larger Than Expected Crude Draw

Aug 31, 2022 at 09:45 | Irina Slav

Crude oil prices rose slightly today after the Energy Information Administration reported an inventory draw of 3.3 million barrels for the week to August 26. At 418.3 million barrels,…

Is Dodgy Demand Data Driving Oil Prices Lower?

Aug 31, 2022 at 09:26 | Alex Kimani

In the current month, open interest, or the total number of crude futures and options contracts that have not been settled, fell to a seven-year…

Oil Sinks By 3% As Economic Slowdown Fears Weigh On Market

Aug 30, 2022 at 08:41 | Tsvetana Paraskova

Oil prices dipped by nearly 3% early on Tuesday, losing around $3 from Monday’s close, as fears of a global economic slowdown intensified while fears of a loss…

Oil Prices Hit $104 On New Supply Scare

Aug 29, 2022 at 10:52 | Tsvetana Paraskova

Oil prices rose early on Monday, extending gains from Friday, as supply took center stage on the market with potential new production cuts from OPEC+ and deadly clashes…

Texas Gets Government Aid To Plug Orphan Oil Wells

Aug 29, 2022 at 08:43 | Tsvetana Paraskova

Texas will start plugging more abandoned oil and gas wells this week, utilizing a federal grant as part of the Infrastructure Investment and Jobs Act.   The…

The World’s Energy Problem Is Far Worse Than We’re Being Told

Aug 29, 2022 at 07:59 | Gail Tverberg

No politician wants to tell us the real story of fossil fuel depletion. The real story is that we are already running short of oil, coal and natural gas because…

OPEC+’s Complains About Volatility, But Here’s What They Really Want

Aug 26, 2022 at 16:20 | Julianne Geiger

Numerous OPEC+ ministers have closed ranks over the last week to bemoan oil price volatility. Accusations of misleading weakening demand figures and the disconnect between the physical…

UAE Likely To Support OPEC Oil Production Cuts

Aug 26, 2022 at 10:47 | Tsvetana Paraskova

The United Arab Emirates (UAE) has similar views to Saudi Arabia on the crude oil markets, a source familiar with the UAE’s thinking told Reuters

Big Oil's $41 Billion Buyback Bonanza

Aug 26, 2022 at 10:33 | Alex Kimani

Oil and gas supermajors are on course to repurchase their shares at near-record levels this year thanks to soaring oil and gas prices helping them to deliver bumper…

Does China Really Control Kazakhstan’s Oil And Gas Industry?

Aug 26, 2022 at 08:13 | Eurasianet

A decade or so ago, it was commonplace in Kazakhstan to talk about the creeping takeover of the energy industry by China. That hasn’t happened. 

Saudi Arabia Is Determined Not To Waste This Oil Boom

Aug 25, 2022 at 09:32 | Felicity Bradstock

Saudi Arabia is continuing to profit from its strong oil sector, with state-owned Aramco announcing incredible profits for the second quarter of 2022. But as well as maintaining…

Will Oil Prices Head Higher In 2023?

Aug 24, 2022 at 10:22 | Tsvetana Paraskova

Oil prices have consistently traded below $100 per barrel so far in August, weighed down by fears of demand destruction, concerns about looming recessions in Europe and the…

4 Stocks To Play The Next Rally In Oil

Aug 24, 2022 at 10:15 | Alex Kimani

Crude oil prices have been paring back earlier losses on Monday and Tuesday after Saudi Oil Minister Prince Abdulaziz bin Salman said the current bear market

Oil Rally Halts Despite Crude Inventory Draw

Aug 24, 2022 at 09:41 | Irina Slav

Oil prices didn't extend gains today after the Energy Information Administration reported a crude oil inventory decline of 3.3 million barrels for the week to August 19. This

Russia Considers Deeper Oil Discounts To Counter U.S. Price Cap Push

Aug 24, 2022 at 08:16 | Tsvetana Paraskova

Russia has recently contacted several Asian buyers to discuss selling its oil at hefty discounts under long-term contracts, while the U.S. and the West are stepping up efforts…

India Ramps Up Saudi Crude Purchases, But It’s Not A Gesture To Washington

Aug 23, 2022 at 11:47 | Simon Watkins

India’s major shift in its oil purchasing pattern last month from Russia to Saudi Arabia has been interpreted by many global oil market participants as an early sign…

What’s Behind Buffett's Renewed Interest In Occidental?

Aug 23, 2022 at 11:27 | David Messler

Warren Buffett, through Berkshire Hathaway Inc., (NYSE:BRK.A), (NYSE:BRK.B) has been quietly amassing a significant stake in Occidental Petroleum, (NYSE:OXY). As of early August, he had acquired a 20%…

Kazakhstan Oil Supply Outage To Last For At Least A Month

Aug 23, 2022 at 09:26 | Tsvetana Paraskova

Oil exports from Kazakhstan via the Black Sea terminal of the Caspian Pipeline Consortium (CPC) face at least a month of reduced shipments and disrupted loading schedules due to urgent…

Big Tech Is Under Pressure To Turn Its Back On Big Oil

Aug 22, 2022 at 11:29 | Irina Slav

Businesses these days need to be extra-careful in their dealings with other industries - especially the oil industry. Guilt by association is instantaneous for anyone that does business…

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