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Energy / Crude Oil

Shell Resumes Oil Flows From Key Nigerian Terminal

Oct 21, 2022 at 09:13 | Julianne Geiger

Shell has resumed exports from its Forcados oil terminal in Nigeria after a months-long pause, Shell Nigeria said late on Thursday night. Oil exports resumed on…

Oil Could Surge Well Above $100 After Midterms

Oct 21, 2022 at 08:42 | ZeroHedge

With everyone obsessing over UK lettuce and the Fed blowing up the US economy, there was not enough digital ink to discuss the supreme irony of Biden unleashing…

Supertanker Rates Soar As Chinese Refiners Ramp Up Imports

Oct 21, 2022 at 07:59 | Michael Kern

The day rate for chartering a very large crude carrier (VLCC) topped $100,000 this week, with average time charter rates now at their highest in more than two…

Oil Inches Lower Despite Crude Inventory Draw

Oct 19, 2022 at 09:40 | Irina Slav

Crude oil prices slipped today after the U.S. Energy Information Administration reported crude oil inventories had shed 1.7 million barrels in the week to October 14. This compared with…

Baker Hughes Sees Bright 2023 For U.S. Oil

Oct 19, 2022 at 09:13 | ZeroHedge

The world's third-largest oilfield services provider stated in a corporate update Wednesday that the worst supply chain issues "should be behind us," as…

The World’s Economy Needs Fossil Fuels To Thrive

Oct 19, 2022 at 08:58 | Gail Tverberg

Time and time again, financial approaches have worked to fix economic problems. Raising interest rates has acted to slow the economy and lowering them has acted to speed up the…

Brent Crude Drops Below $90 On Recession Fears

Oct 18, 2022 at 11:21 | Tom Kool

WTI crude has fallen back to pre-OPEC cut announcement levels, with Brent crude falling back below $90 per barrel on global recession fears.

Two Major Indian Refiners Just Stopped Buying Russian Crude

Oct 18, 2022 at 10:45 | Charles Kennedy

Two of the biggest refiners in India have stopped looking for spot Russian crude oil supply set to arrive after December 5, the day on which the EU embargo on…

Diesel Crisis Deepens As Inventories Fall To Dangerous Levels

Oct 18, 2022 at 08:37 | Irina Slav

While the OPEC+ agreement to cut crude oil production and the U.S. reaction to it dominate headlines, a much more immediate crisis is getting worse by the day.…

OPEC+ Made The Russian Oil Price Cap Strategy Very Risky

Oct 17, 2022 at 09:17 | Irina Slav

The idea of placing a cap on the price of Russian oil as a means of reducing the country’s oil revenues was first floated by U.S. Treasury Secretary…

U.S. Refiners Are Preparing For A Potential Fuel Export Ban

Oct 14, 2022 at 08:46 | Felicity Bradstock

U.S. refineries are preparing themselves for the possibility that President Biden could impose a ban on fuel exports after the White House dangled the threat of the ban…

OPEC+ Cuts Could Lead To Supply Deficit In Oil Markets

Oct 13, 2022 at 11:21 | Irina Slav

Last week, OPEC+ said it would reduce its oil production target by 2 million barrels daily, with actual cuts of between 1 and 1.1 million bpd. The announcement…

Oil Jumps Despite Major Crude Inventory Build

Oct 13, 2022 at 10:11 | Irina Slav

Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 9.9 million barrels for the week to October 7, but the…

Can Suriname Replicate Guyana’s Oil Boom?

Oct 13, 2022 at 09:15 | Matthew Smith

The offshore Guyana-Suriname Basin emerged in 2019 as one of the world’s most exciting drilling frontiers. While the U.S. Geological Survey estimated that…

Huge Kazakh Oilfield Set To Resume Production By End-October

Oct 13, 2022 at 08:07 | Charles Kennedy

Kazakhstan’s massive oilfield Kashagan will resume production at a level of 400,000 barrels per day (bpd) by the end of this month, Kazakhstan’s Energy Minister Bolat Akchulakov told Reuters…

OPEC+ Production Cut Is Luring Hedge Funds Back To The Oil Market

Oct 12, 2022 at 10:16 | Alex Kimani

Stocks and bonds are out, and oil is in. That has become the new playbook for many hedge funds this year as they try to navigate rising interest…

EU Ban On Russian Oil Could Spark Worst Energy Crisis In Decades

Oct 12, 2022 at 07:07 | ZeroHedge

A European ban on most crude imports from Russia will come into effect in December. For EU leaders, the next task at hand…

Russia Could Be The Biggest Beneficiary Of OPEC+ Cuts

Oct 07, 2022 at 13:55 | Tsvetana Paraskova

The leader of the non-OPEC oil producers in the OPEC+ alliance, Russia, is the biggest beneficiary of the 2 million barrels per day (bpd) cut announced this week,…

The UAE Isn’t Ditching Oil For Renewables Just Yet

Oct 07, 2022 at 12:06 | Felicity Bradstock

The UAE has no plans to curb its oil production in favour of renewables, with the country’s climate minister pointing to strong global demand as a driver for…

Biden’s Options To Counter OPEC+ Are Limited

Oct 07, 2022 at 10:04 | Irina Slav

This week, OPEC+ made a decision unprecedented in its history and the history of OPEC. The extended cartel approved production cuts of 2 million bpd at a time…

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