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Energy

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,…

Volkswagen Shares Soar As It Declares War On Tesla

Mar 16, 2021 at 11:04 | ZeroHedge

Look out, Tesla. There could be another mainstream FOMO electric vehicle stock coming. VW common shares soared as much as 29% this morning - the most since the company's historic…

Oil Extends Losses On Renewed Demand Concerns

Mar 16, 2021 at 10:04 | Tsvetana Paraskova

Oil prices fell for the third day in a row on Tuesday as the third wave of coronavirus infections in Europe and slowing vaccine rollouts in the EU added to…

Biden’s EV Agenda Has One Major Problem

Mar 15, 2021 at 16:06 | Irina Slav

Last month, President Joe Biden said he planned to replace the whole federal vehicle fleet with electric cars, creating one million jobs in the process. Jobs aside, we’re talking…

Middle East Producers Cash In On Oil Price Rally

Mar 15, 2021 at 14:56 | Tsvetana Paraskova

The world’s top oil exporter, Saudi Arabia, wasn’t just thinking about the global oil market when it rolled over its extra production cut into April and had the…

South Africa Hopes To Become The Next Big Shale Success Story

Mar 15, 2021 at 14:00 | Haley Zaremba

It’s been nearly a decade since South Africa lifted a freeze on shale gas exploration, but the resource-rich nation’s potential ensuing shale revolution never quite materialized. Much attention…

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…

Oil Prices Retreat As Biden Plans Major Federal Tax Hike

Mar 15, 2021 at 12:02 | ZeroHedge

Despite optimism from Chinese data overnight, forecasts for lower OPEC+ output, and a weaker dollar, oil prices are tumbling this morning with WTI back below $64.50... Some…

The Big OPEC+ Gamble Appears To Be Paying Off

Mar 15, 2021 at 11:13 | Tsvetana Paraskova

U.S. oil firms focused exclusively on the shale patch are expected to only marginally increase their combined production this year compared to 2020, according to Bloomberg Intelligence data of…

Mexico’s Pemex Boasts Billion-Barrel Oil Discovery

Mar 15, 2021 at 10:01 | Tsvetana Paraskova

Mexico’s Pemex has discovered a gigantic oilfield in the state of Tabasco that could hold as much as one billion barrels of oil, Octavio Romero Oropeza, chief executive 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,…

Oil Bulls Beware: This Optimism Is Unjustified

Mar 12, 2021 at 14:25 | Cyril Widdershoven

Optimism seems to be ruling global oil markets at the moment. Even the recent OPEC report, in which the global oil group cut its demand predictions…

China Ramps Up Oil Imports From Iran

Mar 12, 2021 at 14:23 | Felicity Bradstock

China appears to be becoming a major importer of Iranian oil, as Iran’s production levels look set to soar thanks to better relations with Biden’s U.S. …

GM Is Betting Big On Electric Vehicles

Mar 12, 2021 at 14:23 | Tsvetana Paraskova

Weeks after General Motors pledged to work for an all-electric future, the highest-selling U.S. automaker announced this week a partnership with MIT spinoff…

Cooking Oil Could Fuel Your Next Flight

Mar 12, 2021 at 14:23 | Irina Slav

The idea of flying on a plane fueled by cooking oil waste would have been ridiculous a decade ago. Now, this is reality. Sustainable aviation fuels, according to…

Will Air-Powered Vehicles Ever Become A Reality?

Mar 12, 2021 at 14:22 | Tatiana Serova

In 2008, when the Indian company Tata Motors announced plans to commercialize a vehicle that would be fueled by air, many optimists believed…

Russia Refuses To Give Up On Senegal’s Oil Boom

Mar 12, 2021 at 13:57 | Viktor Katona

Russia seems to be going through a tumultuous period. Internally, the Putin Administration has been kept busy with a wave of dissent, externally it is struggling to regain…

How Middle East Producers Are Pricing Their Oil

Mar 12, 2021 at 12:52 | Viktor Katona

It is unlikely that the bullish sentiment currently driving oil markets can be sustained over a prolonged period, but Middle Eastern producers are determined to make the most…

Oil Prices Slip As U.S. Rig Count Falls

Mar 12, 2021 at 12:32 | Julianne Geiger

Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell by 1 this week. The total number of active oil and gas…

Brent Back Above $69 As Bullish Sentiment Holds

Mar 12, 2021 at 11:44 | Josh Owens

Despite a strong U.S. dollar, there is an unmistakably bullish sentiment in oil markets as demand comes back online and the vaccine rollout continues.

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