• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 4 hours U.S. Presidential Elections Status - Electoral Votes
  • 6 hours .
  • 6 hours Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 14 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Joe Biden's Presidency
  • 3 days Сryptocurrency predictions
  • 2 days CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances
Editorial Dept

Editorial Dept

More Info

Premium Content

A New Bullish Sentiment In Oil Markets

Oil prices gained 2% Thursday on a combination of news that included a rumor that OPEC will extend output cuts until the middle of next year, though this was tampered by a build in US crude oil inventories. It’s also responding--more than anything--to the faintest of signals that there may be positive developments in the US-China trade war. A 2-percent gain is about all we can hope for at this point in time, when OPEC can no longer affect major oil price movements. The highlight of the week was Putin’s description of US shale technology as “barbaric” for its disregard for the environment and his positioning of Russia as an environmentally responsible oil and gas superpower. Intelligence has long pointed to Russian efforts to discredit fracking, which is a clear threat to Russia’s Gazprom market share, most immediately in Europe. Recent data suggests that Russia is one of the top five C02 emitters in the world.

What Just Happened Offshore Guyana?

There’s plenty to be excited about offshore Guyana with the strong of discoveries for Exxon and Hess and, more recently, the move to push first production to December this year, way ahead of 2020 schedule. 

So, then why is Tullow--the other company behind some major discoveries in the same basin--seeing its stock drop?

Ireland-based Tullow Oil and its smaller partner, Eco Atlantic, have just been taken to the cleaners over Guyana. In a day (Nov 20th), Tullow stock shed…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News