We're entering a key period…
Despite some crude inventory builds…
Libya has a unified government for the first time in more than a decade of civil war. It is also pumping 1.3 million barrels of oil daily and plans to…
U.S. gasoline demand has rebounded to nearly pre-pandemic levels, but after a horrendous 2020, American refiners are looking to cut costs wherever and whenever possible in light of the still-sluggish…
The source of Iran’s relative independence in international affairs can be attributed to its oil and gas wealth. The country’s massive oil resources have contributed to a steady source of…
Oil prices erased earlier gains and traded lower on Wednesday morning, following an estimate by the International Energy Agency (IEA) that no supercycle for oil is around the corner amid…
The Energy Information Administration reported a crude oil inventory build of 2.4 million barrels for the week to March 12, up/down from a build of 13.8 million barrels the…
Following the price rally seen last week, oil prices have retreated to slightly lower levels, below $70 (Brent) and $64 (WTI). The main drivers of this correction have…
Oil production from the seven largest U.S. shale regions is set to decline by 46,000 barrels per day (bpd) in April, but output in the biggest and most prolific basin,…
The UK is exploring the option to ban new offshore oil and gas exploration licenses in what could be a radical move away from fossil fuels and part of the…
Crude oil could hit $100 and top it, and this could happen before this year’s end, according to Craig Johnson from investment bank Piper Sandler. Speaking to CNBC, Johnson said,…
After a harsh 2020 and slow post-pandemic recovery Argentina’s hydrocarbon sector has come roaring back to life. A combination of substantially higher oil prices, government subsidies, favorable legislation…
Despite the U.S. sanctions on Iranian oil exports, some Chinese refiners are buying so much Iranian crude that the ports in the Shandong province, where most independent refiners are based,…
Almost everything in life is a matter of perspective, including developments in the oil and gas industry. For people who would start to study global oil flows today, it would…
Global oil demand is set to benefit from stronger economic recovery and vaccinations in the second half of this year, OPEC said on Thursday, adjusting higher its outlook for the…
The Organisation of Petroleum Exporting Countries is looking for a “fair” price for its crude, Saudi Arabia’s Foreign Minister, Prince Faisal bin Farhan said this week after a meeting with…
I have written on shale production in the U.S. a number of times over the past couple of years for OilPrice. My expectation that shale production would fall…
Whether the Iranian leadership thinks that new U.S. President Joe Biden is set to go easier on the Islamic Republic or on China is unclear as yet but whichever it…
A week after reporting a massive crude oil inventory build of over 21 million barrels, the Energy Information Administration had another unpleasant surprise for inventory watchers: the authority
U.S. President Joe Biden has put the oil industry and oil-producing states on edge with his plans to reform oil and gas permitting and leasing practices on federal land and…
Tens of thousands of oil wells could be developed in Kern County, California as an ordinance which was previously denied exploration is being revised. This Monday,…
In its February Short Term Energy Outlook (STEO), the EIA forecasts this month's world oil consumption at 96.7 million barrels per day (mbpd). The oil supply, however,…