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Energy / Crude Oil

Barclays: Reopening Economies Drive Oil Demand Higher

May 21, 2021 at 13:03 | Tsvetana Paraskova

Global oil demand is recovering with major economies reopening amid a cautious supply approach from OPEC+ and restraint in U.S. shale, Barclays said on Friday. Despite the possibility of a…

Rig Additions In U.S. Top 100 For 2021

May 21, 2021 at 12:11 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 2 this week, bringing the total rig count to 455—a more…

OPEC Slams IEA’s Net-Zero Report As ‘Destabilizing’

May 21, 2021 at 09:05 | Tsvetana Paraskova

The bombshell suggestion of the International Energy Agency (IEA) that the world doesn’t need any new oil and gas investments ever if it is to reach net-zero emissions could further…

U.S. Shale Is Finally Giving Shareholders A Payday

May 20, 2021 at 16:52 | Tsvetana Paraskova

Unlike in the previous downturn in 2015-2016, U.S. shale producers are exiting the 2020 oil price and demand collapse with their promises intact to rein in production growth…

Oil Demand Set To Surge As Travel Picks Up

May 20, 2021 at 16:13 | Felicity Bradstock

As restrictions ease across Europe, we are slowly seeing a resurgence in fuel demand for travel, not only in gasoline and diesel but also in jet fuel as…

There Is Light At The End Of The Tunnel For Argentina’s Oil Industry

May 20, 2021 at 15:01 | Matthew Smith

Protests and civil dissent are once again sweeping across Latin America, a region infamous for its political instability and economic inequality. While Colombia’s security crisis

Asia’s Physical Oil Market Strengthens In Sign Of Rising Demand

May 20, 2021 at 09:18 | Tsvetana Paraskova

China and Japan have recently intensified purchases of crude oil on the spot market, driving spot premiums for some grades to their highest in several months and signaling that Asia’s…

The IEA May Have Given OPEC A Huge Gift

May 19, 2021 at 18:02 | Irina Slav

An immediate halt to oil exploration is one of the steps that need to be taken in order for the world to reach Paris Agreement climate change commitments. That’s what…

Oil Prices Tumble As Crude Inventories Rise

May 19, 2021 at 09:40 | Irina Slav

Crude oil prices moved further down today after the Energy Information Administration reported a crude oil inventory build of 1.3 million barrels for the week to May 14. This…

Heavy Rains Reduce Gulf Coast Refinery Output

May 19, 2021 at 09:03 | Charles Kennedy

Four refineries on the U.S. Gulf Coast have reduced their processing rates because of heavy rains and flooding in East Texas and Louisiana. The severe weather conditions are forecast to…

The IEA’s Latest Proposal Is Both Reckless And Impossible

May 18, 2021 at 17:05 | Cyril Widdershoven

The International Energy Agency,  which has stepped up its efforts to become a major green energy supporter, appears to have forgotten the reason it was set up as…

Colombia’s Oil Industry Is On The Brink Of Collapse

May 18, 2021 at 16:06 | Matthew Smith

Colombia’s oil industry is yet again under considerable pressure, despite the national government in Bogota attempting to reactivate the economically crucial sector. The March 2020 oil price crash,…

IEA: Net-Zero Goal Means No More New Oil And Gas Investment Ever

May 18, 2021 at 09:01 | Tsvetana Paraskova

The world doesn’t need any new investments in oil and gas beyond what is already approved if it hopes to achieve net-zero emissions by 2050, the International Energy Agency (IEA)…

Why A Shale Comeback Could Be Disastrous For Oil Markets

May 17, 2021 at 18:04 | Alex Kimani

After having a year to forget in 2020, the energy sector has this year emerged as the best-performing of all 11 U.S. market sectors. Energy Select Sector SPDR ETF (NYSEARCA:XLE)…

Oil Markets Will Face A Supply Crisis Before Demand Peaks

May 17, 2021 at 17:07 | Alex Kimani

The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks, and a shift towards renewable energy, experts warned that nearly…

OPEC’s Oil Exports Are Surging By 1 Million Bpd In May

May 17, 2021 at 11:05 | Tsvetana Paraskova

OPEC’s oil exports have jumped by 1 million barrels per day (bpd) so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month,…

India Oil Demand Slumps By 20% In May Amid COVID Crisis

May 17, 2021 at 09:03 | Tsvetana Paraskova

Fuel demand in India continues to slump this month amid the COVID crisis in the world’s third-largest oil importer, with Gasoline sales down to a one-year low…

Russia Has Oil Reserves At Least Until 2080

May 14, 2021 at 12:47 | Tsvetana Paraskova

Russia’s oil reserves will last until 2080 at the current pace of annual production, Natural Resources Minister Alexander Kozlov told Russian outlet RBC in an interview this week. Russia…

Can Canada Boost Oil Production While Reducing Emissions?

May 13, 2021 at 13:54 | Tsvetana Paraskova

Canada has recently increased its climate commitment by announcing a more ambitious mid-term target for 2030 on its path to net-zero by 2050. Still, the federal government expects…

Middle East Oil Producers Race To Pump Crude And Sell Assets

May 11, 2021 at 14:56 | Irina Slav

Within the last month, Saudi Arabia’s state oil giant Aramco has announced the sale of a minority—but large—stake in its pipeline business, the possibility to sell another 1…

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