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Breaking News:

ADNOC Considered Buying Oil Giant BP

Biden Administration's SPR Plans Derailed by Oil Price Surge

Biden Administration's SPR Plans Derailed by Oil Price Surge

The Biden Administration cancels planned…

North Sea Oil and Gas Firms Continue Drilling Despite Climate Goals

North Sea Oil and Gas Firms Continue Drilling Despite Climate Goals

Major North Sea oil-producing countries…

Energy / Crude Oil

Death Cross Isn't A Death Sentence For Energy Stocks

Dec 12, 2023 at 16:08 | Alex Kimani

Several prominent energy stocks are teetering on the precipice of the dreaded "death cross" trading pattern, potentially heralding another big down leg in the minds of many traders. The 

OPEC May May Need 5-Year Plan To Prevent Oil Price Collapse

Dec 12, 2023 at 09:20 | Charles Kennedy

Soaring supply from the United States and other non-OPEC+ oil producers could force the OPEC+ group to continue carefully managing its supply to the market for the next five years…

This Country is About To Export its First Ever Crude Oil

Dec 11, 2023 at 09:59 | Charles Kennedy

Niger aims to start exporting its first crude oil in January, the military leader of the African country, Abdourahamane Tiani, has said on state television. The commercial stage of the…

Venezuela Looks To Boost Oil and Gas Exploration Amid Dispute with Guyana

Dec 11, 2023 at 09:40 | Tsvetana Paraskova

Venezuela is looking to revive an offshore natural gas field close to the maritime border with Guyana amid an escalating territorial dispute after Venezuelan President Nicolas Maduro held a referendum…

Oil Sanctions Never Had A Chance

Dec 08, 2023 at 14:01 | Irina Slav

The recent slump in oil prices pushed Russia’s flagship Urals below the $60 price cap imposed on international shipments by the G7 last year. Perhaps this is a reason…

Oil Rebounds as DOE Looks To Buy 3 Million Barrels For SPR In March

Dec 08, 2023 at 11:07 | ZeroHedge

With oil plunging an (almost) unprecedented 7 weeks in a row, the longest such stretch since 2018...

Can OPEC+ Boost Oil Prices Next Year?

Dec 07, 2023 at 09:01 | Tsvetana Paraskova

OPEC+ disappointed the oil bulls last week by announcing voluntary cuts from several producers and failing to agree on a group-wide supply reduction, at least for the first quarter of…

Growing U.S. Oil Exports Put Lasting Pressure on Prices

Dec 07, 2023 at 08:51 | Irina Slav

Until 2015, U.S. crude oil producers were prohibited from exporting oil without a special license. In 2015, this changed. Since then, the U.S. has become a top-five exporter. This has…

The Oil Demand Outlook COP28 Leaders Would Hate

Dec 06, 2023 at 18:33 | Irina Slav

This week, a report from a climate organization warned that emissions from the combustion of hydrocarbons are set for a record this year. This is despite the massive buildout…

Oil Demand Will Take a Hit from Yet Another Decline in U.S. Manufacturing

Dec 06, 2023 at 14:57 | Alex Kimani

U.S. manufacturing activity has declined for the 13th consecutive month, making this an unusually lengthy downturn. The manufacturing purchasing managers index by the Institute for Supply Management (ISM) clocked…

Oil Falls on Mixed Inventory Changes in Crude, Fuels

Dec 06, 2023 at 09:41 | Irina Slav

WTI oil prices held just above $70 today after the U.S. Energy Information Administration reported a crude oil inventory draw of 4.6 million barrels for the week to December…

OPEC’s Oil Output Drops for the First Time Since July

Dec 06, 2023 at 08:23 | Charles Kennedy

OPEC’s crude oil production dropped in November for the first monthly decline since July as Nigeria and Iraq saw lower shipments, the monthly Reuters survey found on Wednesday.  …

U.S. Record-Breaking Oil Output One More Blow to OPEC

Dec 05, 2023 at 13:16 | Irina Slav

Record crude oil production in the United States is serving a fresh blow to oil bulls and OPEC, just as the cartel was trying to push benchmarks higher by adopting…

Russia Says OPEC+ Ready To Deepen Oil Output Cuts If Needed

Dec 05, 2023 at 10:49 | Charles Kennedy

The OPEC+ group is ready to take additional measures and deepen the oil production cuts in the first quarter of 2024 to avoid volatility and speculation on the market, Russia’s…

Latest Cuts Leave OPEC with Fewer Options

Dec 04, 2023 at 13:04 | Irina Slav

Last week, OPEC and its partners from OPEC+ agreed to deepen and extend their production cuts into the first quarter of 2024. The move, almost unanimously seen as a means…

What More OPEC+ Cuts Mean for the Market

Dec 01, 2023 at 18:22 | Alex Kimani

Following a chaotic day of OPEC+ meeting decisions that resulted in additional “voluntary” cut among cartel members, the dust is now settling, and the market is fairly disappointed, with Brent…

Oil Prices Retreat As OPEC+ Cuts Another 684KBPD, Brazil Joins OPEC+

Nov 30, 2023 at 12:25 | Julianne Geiger

Oil prices began to retreat on Thursday afternoon as it became clear that OPEC+ members were agreeing to voluntary cuts beginning in the new year, and that those cuts would…

Well Productivity Gains Clash with Cost Inflation in U.S. Oil Patch

Nov 29, 2023 at 14:02 | Irina Slav

Crude oil production in the United States is on course to break its previous record this year. That’s despite a federal government that is not the biggest…

Oil Ticks Down on Crude, Fuels Inventory Build

Nov 29, 2023 at 09:45 | Irina Slav

Crude oil prices moved lower today, after the Energy Information Administration reported an estimated inventory increase of 1.6 million barrels for the week to November 24. This 

Russia Takes Control of Iraq’s Biggest Oil Discovery for 20 Years

Nov 27, 2023 at 13:07 | Simon Watkins

Preliminary estimates suggested that Iraq’s Eridu oil field holds between 7-10 billion barrels of reserves. Senior Russian oil industry sources spoken to exclusively by OilPrice.com last week said the true figure may…

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