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Energy

Oil Markets Not Convinced OPEC Deal Can Kill The Glut

Dec 08, 2016 at 17:11 | Nick Cunningham

There are serious questions swirling around OPEC’s production cut deal, ranging from the size of the cuts needed given that production from the cartel rose through November, to the prospect…

Filling The Gap: Tomorrow’s Most Popular Oil Trade

Dec 08, 2016 at 17:04 | Rakesh Upadhyay

Credit Suisse AG recently decided to delist two very popular and risky oil exchange-traded notes (ETNs) on the exchanges beginning today, December 8, and companies are now scrambling to fill…

Did Big Oil Layoff Too Many Workers Too Quickly?

Dec 08, 2016 at 16:21 | Irina Slav

What was once a mere warning to the oil industry has now become a reality: the severe cost cuts undertaken by virtually every oil and gas business in the world…

BP CEO Dudley: We’ll Double Our North Sea Oil Production By 2020

Dec 08, 2016 at 15:51 | Tsvetana Paraskova

UK’s oil major BP (NYSE:BP) will double its production in the North Sea to 200,000 barrels of oil per day, chief executive Bob Dudley said in an interview with

More Federal Land Drilling: Possible, But Not Profitable

Dec 08, 2016 at 14:53 | Peter Taberner

As the United States catches its breath following the shock election victory of Donald Trump, the oil industry could be facing significant changes, including the President elects’ open door policy…

Crude Rises Ahead Of Non-OPEC Meeting

Dec 08, 2016 at 13:17 | Matt Smith

The mood of crude has flipped again, with optimism rising ahead of the NOPEC meeting at the weekend. Even though doubts persist, for today, oil prices push higher. Hark, here…

Trump’s Energy Advisor Hamm: We Are So Much Stronger Than The Saudis

Dec 08, 2016 at 12:33 | Tsvetana Paraskova

U.S. crude oil production is not expected to rise much next year from the current levels of around 8.6 million bpd, energy mogul Harold Hamm said at the S&P…

Leonardo DiCaprio Meets With Trump To Discuss Creation Of Millions Of Green Jobs

Dec 08, 2016 at 10:20 | ZeroHedge

In one of the more unexpected visits to take place to the penthouse at the Trump Tower on Wednesday, Leonardo DiCaprio and the head of his foundation met with President-elect…

Glencore, Qatar Fund Buy 20% In Rosneft

Dec 08, 2016 at 09:19 | Irina Slav

Glencore has teamed up with Qatar’s sovereign wealth fund to acquire a 19.5-percent stake in Russia’s oil giant Rosneft. The Swiss-based commodity trader and miner, led by Ivan Glasenberg, will…

Will We See $60 Oil By Christmas?

Dec 07, 2016 at 16:45 | Rakesh Upadhyay

For the first 11 months of the year, OPEC talked oil prices up, but by December it became clear that oil prices were not going to rise higher on mere…

U.S. Shale Set To Kill Oil Price Rally

Dec 07, 2016 at 16:24 | Nick Cunningham

The resurgence of U.S. shale will undermine the OPEC-fueled price rally, capping oil prices at roughly $50 per barrel through 2017. That is the conclusion from the EIA’s latest

The End Of The Bust? U.S. Shale Patch Could Start Hiring Soon

Dec 07, 2016 at 16:04 | Irina Slav

More than 150,000 jobs in the oil and gas sector in the U.S. have been cut since the start of the oil price crisis in mid-2014. In just the…

Drilling Frenzy? Oilfield Services Booked Out

Dec 07, 2016 at 15:46 | Peter Tertzakian

“If you don’t have your crews lined up by now, you’re not going to be able to complete your wells in Q1,” replied my oilfield service friend. “We’re fully booked…

Oil Minister: Venezuela Has Left 500,000 Bpd Output Out Of OPEC Deal

Dec 07, 2016 at 13:53 | Tsvetana Paraskova

Venezuela - one of the OPEC deal’s staunchest promoters and supporters – produces around 500,000 barrels per day of heavy oil, and this figure has been left out of the…

How OPEC Has Papered The Oil Market Cracks

Dec 07, 2016 at 13:10 | Osama Rizvi

The outcome of the Vienna meeting came as a pleasant surprise to oil markets. A deal had been hammered out and, despite the resistance, OPEC and Non-OPEC producers had agreed…

Oil Falls As OPEC Euphoria Abates

Dec 07, 2016 at 10:52 | Matt Smith

As the meeting of NOPEC fast approaches this weekend, the mood in the oil market has shifted from euphoria to skepticism, as questions remain around the intent of key producers.…

EIA Reports Crude Inventory Draw Amid Rising Doubts On OPEC Deal

Dec 07, 2016 at 09:43 | Irina Slav

As doubts about the effectiveness of OPEC’s production cut deal continue to rise, the EIA reported a 2.4-million-barrel fall in commercial inventories for the week to December 2. The…

Kuwait Calls For Meeting To Enforce OPEC Cut In Q1 2017

Dec 07, 2016 at 09:09 | Zainab Calcuttawala

Kuwait will be taking a leadership role in monitoring the Organization of Petroleum Exporting Countries’ (OPEC) week-old production freeze deal, according to acting oil minister Anas al-Saleh, who said he…

OPEC Cheating Will Cap Oil At $52

Dec 06, 2016 at 16:27 | Nick Cunningham

OPEC succeeded in pulling off what many thought was impossible, overcoming mutual disdain and mistrust to reach a deal on reducing its oil output. Oil prices skyrocketed on the…

Oil & Gas Stocks Soar On OPEC Deal – Can The Rally Continue?

Dec 06, 2016 at 16:20 | Zainab Calcuttawala

The markets are reacting to the Organization of Petroleum Exporting Countries’ (OPEC) planned production reduction not just in oil price spikes, but stock prices, too—giving the deal the power to…

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