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Breaking News:

Oil Prices Rise On Surprise Crude Draw

Oil storage

OPEC Considers Deeper Oil Cuts Amid Virus Market Meltdown

As leading OPEC producers downplayed…

Energy / Crude Oil

Wolfcamp rig

99 Oil Rigs Gone And Counting: Rig Count Falls Again

Nov 22, 2019 at 12:16 | Julianne Geiger

The US oil and gas rig count continued to fall this week, according to Baker Hughes, falling another 3 rigs for the week, according to Baker Hughes. For oil rigs,…

Workers rig

Is Big Oil Wasting Its Time in The US Shale Patch?

Nov 19, 2019 at 16:37 | Nick Cunningham

Growth in the U.S. shale industry is dramatically slowing down, with cash-strapped drillers slashing spending and scrapping rigs. At the same time, the oil majors are consolidating their position and…

Shale

U.S. Shale To Break Records Despite Bearish Rhetoric

Nov 19, 2019 at 09:26 | Irina Slav

Crude oil production in the U.S. shale patch is seen rising by 49,000 bpd next month to a record-high daily average of 9.133 million barrels. That’s according to the latest…

Oil well

U.S. Shale Producers Slash Spending Once Again

Nov 18, 2019 at 15:40 | Tsvetana Paraskova

For a second consecutive year, U.S. shale producers are finding themselves cutting capital spending for the following year, as investors continue to demand returns from the frenzied drilling over the…

PDVSA tanker

Venezuela Is Using Invisible Oil Tankers To Skirt Sanctions

Nov 15, 2019 at 15:32 | Irina Slav

U.S. sanctions on Venezuela have been squeezing the life out of its economy in an attempt to remove the government of Nicolas Maduro from power, but so far those sanctions…

Kremlin

The Real Winner Of The OPEC+ Pact

Nov 15, 2019 at 12:41 | Tsvetana Paraskova

Russia has made more money than Saudi Arabia from the production cut pact this year, while the Saudis have reduced output three times the volume Russia has cut, Bloomberg

Tehran

The Truth Behind Iran’s “Massive” Oil Find

Nov 14, 2019 at 15:35 | Tsvetana Paraskova

Iranian President Hassan Rouhani announced proudly this weekend that Iran had discovered a massive new oil field containing more than 50 billion barrels of reserves—a figure that would increase…

Shale operation

The Uncertain Fate Of U.S. Shale In 2020

Nov 14, 2019 at 13:37 | Nick Cunningham

There is quite a bit of disagreement over how much U.S. shale will grow next year, and a lot hinges on the magnitude of the slowdown. The three main energy…

Cushing

Oil Prices Fall On Bearish EIA Inventory Report

Nov 14, 2019 at 10:16 | Irina Slav

Crude oil price dipped today after the Energy Information Administration reported a crude oil inventory increase for the week to November 8. At 2.2 million barrels, the increase extended…

Icahn

Icahn: Occidental Won't Hit Target Without Asset Sale

Nov 14, 2019 at 09:07 | Irina Slav

Activist investor Carl Icahn has called on Occidental Petroleum’s management to sell assets in order to hit its divestment target following the $38-billion purchase of Anadarko, Bloomberg reports,…

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