• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 1 min COVID is real now
  • 1 day Is Biden the poster child for White Privilege ? DNC needs to replace him now before it's too late.
  • 21 hours The Boris Yeltsin of America
  • 16 hours Where is Alberta, Canada headed?
  • 1 day Why Putin is popular in Russia
  • 9 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 11 hours Joe Biden offers advice to correct the public health
  • 16 hours There Has Been No Trump Manufacturing Boom Even Before Covid
  • 1 day Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"

Breaking News:

Oil Climbs On Major Crude Draw

Energy / Crude Oil

Oil May Never Fully Recover From This Crisis

May 21, 2020 at 17:27 | Irina Slav

It’s a rule of thumb among epidemiologists that every epidemic is different and could be laden with surprises. It now seems the same applies to economic crises. During…

Chinese Oil Imports To Rise In 2020 Despite Coronavirus

May 21, 2020 at 16:27 | Tsvetana Paraskova

Despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020, thanks…

U.S. Cuts Royalty Rates For Oil Firms

May 21, 2020 at 12:39 | Tsvetana Paraskova

The U.S. Administration has been approving royalty rate cuts for producers on federal land on a case-by-case basis, with rates cut on at least 76 leases in Utah in recent…

This Oil Nation Sees Production Drop As COVID-19 Cases Spike

May 21, 2020 at 10:20 | Irina Slav

Kazakhstan’s crude oil production has fallen below 1.7 million bpd of crude and condensates, oil analytics firm OilX told Oilprice.com, noting that the giant Tengiz field has seen a jump…

Covid-19 Crisis Could Crush Brazil’s Oil Boom

May 20, 2020 at 14:13 | Nick Cunningham

The coronavirus is spreading like wildfire in Brazil, and the country’s oil industry could get dragged down with it.  “Brazil has the worst COVID growth rate…

Is Russia Finally Complying With OPEC+ Cuts?

May 20, 2020 at 12:44 | Tsvetana Paraskova

It looks like Russia is really trying to comply with its share of the OPEC+ production cuts this time, unlike in previous deals when it had regularly exceeded its cap,…

OPEC+ Deal Could Collapse As Oil Prices Shoot Up

May 20, 2020 at 11:43 | Tsvetana Paraskova

The OPEC+ coalition appears determined to ease the global oil glut and lift the oil prices that had cratered in April because of OPEC+ wrangling and crashing global demand in…

33% Of North Sea Oil Is Now Too Expensive To Extract

May 20, 2020 at 11:07 | Tsvetana Paraskova

The oil price collapse will result in one-third of the North Sea oil left untouched because it will be uneconomical to produce, a new study from the University of Aberdeen…

Oil Soars On Bullish EIA Inventory Report

May 20, 2020 at 09:43 | Irina Slav

A week after it served a much-needed boost to markets with a crude oil inventory draw, today the Energy Information Administration strengthened the mood by reporting an oil inventory…

Why The Future Of Oil Rests On China

May 20, 2020 at 09:09 | Tsvetana Paraskova

The pace of oil demand recovery in China and the entire world could be shaped by China’s top policy-setting meetings, which begin on Friday to chart the course for the…

Is The Oil Collapse Over Already?

May 19, 2020 at 16:46 | David Messler

It has just been an amazing week for crude oil! We haven’t seen upward movement in WTI like we’ve seen this week in…forever, on a percentage basis. Buoyed…

Jet Fuel Demand Will Take Years To Recover

May 19, 2020 at 16:46 | Tsvetana Paraskova

The coronavirus pandemic swept across the airline industry, upending fleet, route, and passenger number predictions for years to come. Commercial air travel, alongside tourism, is the worst-hit business in these…

Oil Industry Faces Looming Threat Of Involuntary Outages

May 19, 2020 at 09:18 | Irina Slav

After the forced suspension of drilling and well shut-ins, the global oil industry now faces another challenge: production outages resulting from delays in regular repairs caused by the supply-chain disruption…

U.S. Shale Cuts Production Deeper And Faster Than Expected

May 18, 2020 at 16:34 | Tsvetana Paraskova

“I think the cuts are automatic if you are a believer in markets,” U.S. President Donald Trump said about potential American oil production cuts in…

Natural Gas Drillers Face Price Meltdown As Storage Fills Fast

May 18, 2020 at 15:52 | Irina Slav

Natural gas, the poster child of the fossil fuel industry and the bridge fuel to a renewable future, has suffered its fair share of problems amid the coronavirus…

Was This The Best Energy Trade Of The Decade?

May 18, 2020 at 13:44 | Haley Zaremba

Last month, oil markets shocked the world when the West Texas Intermediate (WTI) crude benchmark plunged below zero. And oil prices didn’t just fall a little bit below…

Could This Become The World’s Newest Oil Exporter?

May 18, 2020 at 12:54 | Viktor Katona

For many years it seemed that Liberia has missed out on the West African oil bonanza – whilst Nigeria has already established itself as the leading oil producer in the…

China’s Oil Demand Rebounds To Pre-Coronavirus Levels

May 18, 2020 at 11:05 | Tsvetana Paraskova

Oil demand in the world’s top oil importer, China, has rebounded to pre-coronavirus levels, Bloomberg reported on Monday, citing sources with inside knowledge of China’s energy sector. China was the…

Saudi Arabia And Kuwait Halt Production At Giant Joint Oil Field

May 18, 2020 at 09:10 | Irina Slav

Saudi Arabia and Kuwait will suspend production at the Al-Khafji field, which they operate jointly, during June, Reuters reports, quoting Kuwaiti media. Al-Khafji is one of four offshore and…

The State Hit Hardest By The Oil Crash

May 15, 2020 at 17:37 | Nick Cunningham

The Texas economy has suffered a double blow from COVID-19 crisis and the collapse of the oil industry.  U.S. shale drillers had already planned on cutting…

Oilprice - The No. 1 Source for Oil & Energy News