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Oil Moves Higher on Inventory Draw

Oil Moves Higher on Inventory Draw

Crude oil prices ticked higher…

Large Crude Inventory Build Rocks Oil Prices

Large Crude Inventory Build Rocks Oil Prices

Crude oil prices went lower…

Russia's LNG Expansion Plans Hit the Wall

Russia's LNG Expansion Plans Hit the Wall

The Kremlin has set an…

Energy

Oil Sinks On Signals Fed May Soon End Stimulus

Aug 19, 2021 at 06:36 | Irina Slav

West Texas Intermediate sank to $63 per barrel after news reports suggested the Federal Reserve is about to start winding down its bond-buying program that kept the economy going…

New Wave Of COVID Is Nightmare For Gulf Oil Producers

Aug 18, 2021 at 10:28 | Gerald Jansen

The resurgence of COVID in China could not have happened at a worse time for Middle Eastern producers. Saudi Arabia brought back all its 1 mbpd voluntary production…

JP Morgan: Don’t Expect A ‘Shock’ Transition In Energy Markets

Aug 18, 2021 at 10:10 | Tsvetana Paraskova

The energy transition dream clashes with a reality in which the funding and behavioral changes necessary for deep decarbonization of the global energy system are grossly underestimated. 

Another Wave Of COVID Could Dampen Oil Demand

Aug 18, 2021 at 10:06 | Irina Slav

The latest resurgence of the coronavirus that last year virtually shut down most of the world has considerably clouded the previously bright outlook for crude oil demand, driving…

Oil Prices Unlikely To Collapse Any Time Soon

Aug 18, 2021 at 10:03 | Metal Miner

You wouldn’t believe the oil price had been quietly falling since early July when you went to fill up your tank this summer. Gasoline demand is…

Is The U.S. Shale Bankruptcy Rout Over?

Aug 18, 2021 at 10:02 | Alex Kimani

Back in April, we reported that U.S. oil and gas companies were still filing for bankruptcy at record levels right in the midst…

U.S. Politics Are Weighing On Canada’s Oil Industry

Aug 18, 2021 at 09:55 | Felicity Bradstock

Alberta is taking hit after hit following the cancellation of the Keystone pipeline and international pressure to curb oil production in the coming years, as the oil-rich state…

Are America’s Electric Vehicle Targets Too Ambitious?

Aug 18, 2021 at 09:55 | Tsvetana Paraskova

Sales of electric vehicles in the United States more than doubled in the first half of 2021 compared to the same period last year, when lockdowns had hit…

Russia May Be Gloating But It Faces Major Problems In Afghanistan

Aug 18, 2021 at 09:48 | RFE/RL staff

Chaos enveloped Kabul's main airport, with thousands of Afghans frantically rushing to flee Taliban fighters while U.S. Marines sought to provide security for American diplomats and allies being…

Oil Jumps As Crude Inventories Fall

Aug 18, 2021 at 09:38 | Irina Slav

Crude oil prices climbed higher today after the Energy Information Administration reported an inventory draw of 3.2 million barrels for the week to August 13. This compared with a…

EIA Cuts Forecast For OPEC’s Oil Production This Year

Aug 18, 2021 at 09:23 | Tsvetana Paraskova

OPEC’s total petroleum production in the second half of this year is now set to be 600,000 barrels per day (bpd) lower than previous forecasts because of lower-than-expected ramp-up in…

India Taps Into Strategic Oil Reserve: Report

Aug 18, 2021 at 08:19 | Charles Kennedy

India has started selling crude from its strategic oil reserve in a bid to monetize the assets by leasing out space in them to oil companies, Reuters reported, citing…

Wall Street Bullish On Oil Despite Losing Streak

Aug 17, 2021 at 13:38 | Alex Kimani

Oil prices fell on Friday but still managed to eke out a slight weekly gain at $68.44/bbl, as investors continued to weigh a bullishly tight global…

Is This South America’s Last Great Oil Boom?

Aug 17, 2021 at 12:08 | Matthew Smith

The Guyana-Suriname basin is gaining considerable attention from big oil despite the threat of peak oil demand and global push to significantly reduce carbon emissions. The U.S. Geological…

Big Oil’s Carbon Capture Push Is All Talk And No Substance

Aug 17, 2021 at 12:07 | Haley Zaremba

Big Oil has cleaved into two factions. On the Eastern side of the Atlantic, supermajor oil companies in Europe have majorly divested from…

Aramco Is Quietly Shedding Some Of Its Gas Pipeline Assets

Aug 17, 2021 at 12:04 | City A.M

Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A…

Canada Could Boost Oil Pipeline Capacity As Soon As September

Aug 17, 2021 at 12:00 | Tsvetana Paraskova

Canada’s oil sands producers may find welcome relief to years of pipeline capacity constraints when the first new pipeline in years could enter into service as early as…

Bearish Sentiment Begins To Take Hold In Oil Markets

Aug 17, 2021 at 11:58 | Tom Kool

It has been a quiet start to the week for oil markets, but bearish sentiment is undeniably building as the Delta variant threatens to damage global demand. 

Oil Markets Uncertain Over Delta Demand Destruction

Aug 17, 2021 at 11:21 | Yousef Alshammari

Following an important agreement among the OPEC+ members last month, oil prices have fallen in the last week, dropping by more than 9% since their highest recorded level last…

China Continues To Tap Crude Reserves Despite Plunge In Refining Activity

Aug 17, 2021 at 11:01 | Tsvetana Paraskova

The world’s largest oil importer, China, is estimated to have drawn some crude from its oil reserves in July, although its refining throughput fell to the lowest level in over…

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