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Energy / Crude Oil

Brazil Looks To Become A Top-5 Oil Producer

Sep 09, 2021 at 10:57 | Matthew Smith

In a little over a decade Latin America’s largest economy Brazil has become a leading global oil producer. At the end of 2020, Brazil was not only pumping…

Why Bitcoin Miners Are Setting Up Shop In Texas Oilfields

Sep 09, 2021 at 10:52 | Haley Zaremba

Politicians, environmentalists, economists, and energy executives are all puzzled over a compounding conundrum: what’s to be done about Bitcoin? Just this week, El Salvador became the first country…

Oil Prices Jump On Record Production Plunge, Major Gasoline Draw

Sep 09, 2021 at 10:32 | Irina Slav

Oil prices rose today after the Energy Information Administration reported an inventory decline of 1.5 million barrels for the week to September 3, with sizeable draws in fuel inventories…

World’s Top Oil Consumers Exceed Pre-Pandemic Demand Levels

Sep 09, 2021 at 08:25 | Irina Slav

Some of the world’s biggest oil consumers, led by China, have already exceeded pre-pandemic consumption levels, Bloomberg reports, citing consultancy SIA Energy. “The worst for Asian fuel demand is…

China Sees Opportunity As Venezuela’s Oil Industry Hits Rock Bottom

Sep 08, 2021 at 15:12 | Matthew Smith

Venezuela’s near-collapse and strict U.S. sanctions are creating an opportunity for Russia, Iran and China to strengthen their presence in Latin America, a region that for decades has…

Soaring Gasoline Prices Could Cripple Biden’s Energy Agenda

Sep 08, 2021 at 14:54 | Irina Slav

President Joe Biden’s prioritization of the shift from fossil fuels to renewable energy has drawn a lot of attention since his first day in office when he killed…

Is North Dakota’s Oil Industry Finally Bouncing Back?

Sep 08, 2021 at 13:47 | Felicity Bradstock

Since 2010, North Dakota’s oil industry has boomed, putting McKenzie on the map as the fastest-growing county in the U.S. Following a year and a half of pandemic,…

The Gulf Of Mexico Just Saw Its Worst Energy Disruption Since Hurricane Katrina

Sep 08, 2021 at 13:17 | ZeroHedge

Hurricane Ida's disruption to the U.S. offshore energy production in the Gulf of Mexico is the worst in 16 years. It has already stressed domestic and global supply…

World’s Third-Largest Oil Importer Sees Rebound In Demand

Sep 07, 2021 at 15:49 | Irina Slav

India's crude oil demand has been on the mend since mid-summer. It is likely to continue along this same vein for quite a while, with at least one…

Merger Mania Is Back In North America’s Oil Patch

Sep 07, 2021 at 13:32 | Tsvetana Paraskova

The oil and gas industry is back in consolidation mode after a low point in the spring of 2020 during the worst of the oil price and demand…

Canadian Pipeline Giant Enbridge Looks To Export 'Cheap' American Oil

Sep 07, 2021 at 12:00 | Tsvetana Paraskova

Canadian pipeline giant Enbridge is buying a U.S. midstream operator for US$3 billion, betting on advancing its strategy to export from the U.S. Gulf Coast low-cost crude…

Can India Become A Major Renewable Energy Player?

Sep 07, 2021 at 10:44 | Vanand Meliksetian

Successful economies have several things in common, including a stable and reliable energy system with relatively affordable prices for households and businesses. This puts developing countries such as…

China’s Oil Imports Rebounded In August

Sep 07, 2021 at 08:56 | Irina Slav

China’s crude oil imports averaged 10.25 million bpd daily last month, more than 5 percent higher than in July, energy analytics provider OilX has reported. Customs data…

Ecuador Looks To Double Its Oil Production

Sep 06, 2021 at 14:09 | Matthew Smith

The oil-dependent South American country Ecuador, which left OPEC in January 2020 to avoid production quotas, has embarked on an ambitious plan to double its oil output. The…

Hurricane Ida Continues To Weigh On Gulf Oil Production

Sep 06, 2021 at 11:09 | Tsvetana Paraskova

More than a week after Hurricane Ida made landfall in Louisiana, nearly 90 percent, or some 1,6 million bpd of U.S. Gulf oil production remains shut-in, more than…

Europe’s Soaring Gasoline Consumption Triggers Rise In Oil Demand

Sep 06, 2021 at 10:32 | Charles Kennedy

Europe’s oil demand, especially road fuel consumption, has rebounded in recent weeks, as many Europeans hit the road for late summer vacations after a year and a half of restrictions…

Saudis Make Deep Price Cuts To Save Market Share

Sep 06, 2021 at 08:09 | Tsvetana Paraskova

Saudi Arabia slashed the official selling prices (OSPs) for its oil exports to Asia in October more than expected in a move seen as the world’s largest crude exporter…

3 Bullish Catalysts For Oil This Fall

Sep 03, 2021 at 15:09 | Alex Kimani

After a dreary stretch that saw oil markets record the worst monthly loss this year, the markets have kicked off trading in September on a brighter note. Both…

What Are Biden’s Real Priorities For U.S. Oil?

Sep 03, 2021 at 14:57 | Tsvetana Paraskova

Americans are paying the most expensive Labor Day weekend gasoline prices since 2014 amid constrained stock levels and high benchmark crude oil prices. …

U.S. Oil Rigs See Sharpest One-Week Decline In Over A Year

Sep 03, 2021 at 12:13 | Julianne Geiger

The number of oil and gas rigs in the United States fell by 11 this week, according to Baker Hughes—after rising by 5 last week. The total rig count is…

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