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Energy / Crude Oil

Will Libya Crush OPEC’s Plans For A Tighter Oil Market?

Mar 17, 2021 at 15:21 | Irina Slav

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…

Cautious Refiners May Deal Major Blow To Oil Tanker Market

Mar 17, 2021 at 14:01 | Tsvetana Paraskova

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…

China Can’t Resist Iran’s Cheap Oil

Mar 17, 2021 at 12:48 | Vanand Meliksetian

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 Drops As IEA Dashes Hopes Of Supercycle

Mar 17, 2021 at 10:59 | Tsvetana Paraskova

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…

Oil Prices Inch Lower As Crude Inventories Continue To Build

Mar 17, 2021 at 09:39 | Irina Slav

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…

Oil Rally Stalls As Oversupply Threat Grows

Mar 16, 2021 at 16:10 | Yousef Alshammari

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…

Permian Production Set To Rise Despite Shale Decline

Mar 16, 2021 at 12:04 | Tsvetana Paraskova

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,…

UK Considers Ban On New Offshore Oil Licenses

Mar 15, 2021 at 13:03 | Tsvetana Paraskova

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…

Another Investment Bank Is Betting On $100 Oil

Mar 15, 2021 at 09:18 | Irina Slav

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,…

Argentina’s Shale Patch Is Poised For A Comeback

Mar 11, 2021 at 16:56 | Matthew Smith

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…

China Splurges On Iranian Oil Despite U.S. Sanctions

Mar 11, 2021 at 14:43 | Tsvetana Paraskova

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,…

Iraq Is Losing Market Share In European Oil Markets

Mar 11, 2021 at 12:46 | Viktor Katona

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…

OPEC Sees Strong Oil Demand In The Second Half Of 2021

Mar 11, 2021 at 10:55 | Tsvetana Paraskova

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…

Saudi Minister: OPEC Wants “Fair” Price For Its Oil

Mar 11, 2021 at 09:10 | Irina Slav

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…

Why U.S. Shale Production Remains Stubbornly High

Mar 10, 2021 at 18:05 | David Messler

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…

Iran Pushes Development Of Major Oil Region Under 25-Year China Deal

Mar 10, 2021 at 16:50 | Simon Watkins

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…

Oil Prices Move Higher Despite Another Major Crude Build

Mar 10, 2021 at 09:41 | Irina Slav

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

Biden’s Policies Unlikely To Cause Crash In U.S. Oil Production

Mar 09, 2021 at 17:52 | Tsvetana Paraskova

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…

Will California Greenlight New Oil Production?

Mar 09, 2021 at 16:59 | Felicity Bradstock

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,…

How Oil Could Go To $100 Per Barrel

Mar 09, 2021 at 13:40 | ZeroHedge

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,…

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