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Oil Moves Higher on Inventory Draw

Oil Moves Higher on Inventory Draw

Crude oil prices ticked higher…

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israel Claims to Have Dealt a Serious Blow to Hezbollah

Israeli authorities claimed to have…

Energy

The Companies That Could Benefit From A Major Pipeline Shortage

Dec 10, 2020 at 14:54 | Tsvetana Paraskova

The pandemic-inflicted oil demand crash and price collapse did not spare any segment of the oil industry. U.S. drillers and refiners cut oil and fuel production after demand…

Is This The World’s Next Major Driver Of Oil Demand?

Dec 10, 2020 at 14:48 | Irina Slav

The energy industry has been plagued by the sharp and deep drop in oil demand for months, and the outlook does not look too good either—with or without…

Chinese Oil Deal Could Bail Out Cash-Strapped Iraq

Dec 10, 2020 at 14:34 | Tsvetana Paraskova

Iraq has picked a Chinese state-owned oil producer and trader to pay it upfront for oil, providing much-needed cash to the Iraqi government which has been struggling to make ends…

Could We Actually See A Reversal In Energy Efficiency?

Dec 10, 2020 at 12:21 | Irina Slav

Energy efficiency has become the next victim of the coronavirus pandemic, with lockdowns and a recession limiting efficiency gains now and into the future as businesses reprioritize investments to cater…

Solar Energy Is On The Brink Of A Golden Age

Dec 10, 2020 at 12:12 | Haley Zaremba

Solar power is heading into a golden age thanks to an unlikely culmination of forces. A new axis of energy has emerged with the United States, the European…

Moody’s Sees Brent At $45 In 2021

Dec 10, 2020 at 12:01 | Tsvetana Paraskova

Brent Crude oil prices are likely to stay close to current levels next year, range-bound at around $45 a barrel due to uneven demand recovery, Moody’s said in a report,…

South America Set To Struggle With Stranded Oil Assets

Dec 10, 2020 at 11:03 | Matthew Smith

Sharply weaker oil prices and the COVID-19 pandemic are weighing heavily on the outlook for crude oil. It is not only U.S. shale oil and gas which will…

Oil Hits $50 On Vaccine Rollout

Dec 10, 2020 at 09:58 | Tsvetana Paraskova

Brent Crude hit $50 a barrel on Thursday morning for the first time since oil prices crashed in early March, as hopes of swifter-than-thought vaccine rollout fueled bullish expectations of…

Pandemic Crushes U.S. Refining Capacity

Dec 10, 2020 at 09:01 | Tsvetana Paraskova

The closure of several refineries in the United States in recent months sent the total petroleum refining capacity down to its lowest level since May 2016, the U.S. Energy Information…

Was Buffett Right About Energy In 2020?

Dec 09, 2020 at 17:41 | Alex Kimani

Every time Berkshire Hathaway founder and CEO Warren Buffett buys or sells a stock, the investing world tends to sit up and take notice. That’s mainly because the Oracle of…

Russia Tightens Its Grip On Kurdistan Oil

Dec 09, 2020 at 16:18 | Simon Watkins

The oil-producing subsidiary of Russian state gas giant Gazprom, Gazprom Neft, has announced that it plans to launch a fourth well at the Sarqala field in Iraq’s semi-autonomous region of…

Large Oil Trader Trafigura Books Strongest Trading Year Ever

Dec 09, 2020 at 13:59 | Tsvetana Paraskova

One of the world’s biggest commodity traders, privately held Trafigura, delivered record core earnings in what became its strongest trading year ever due to the extreme oil market swings earlier…

The Oil Refinery Crisis Will Worsen This Winter

Dec 09, 2020 at 13:53 | Julianne Geiger

It was only to be expected that many of the world’s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns…

Why The World Might Not Have Enough Oil To Meet Demand Trough 2050

Dec 09, 2020 at 13:39 | Rystad Energy

The world is on track to run out of sufficient oil supplies to meet its needs through 2050, despite lower future demand due to the Covid-19 pandemic and the accelerating…

Is Elon Musk Wrong About Lithium?

Dec 09, 2020 at 13:04 | Alex Kimani

"There is a massive amount of lithium on earth...there really is enough lithium in Nevada alone to electrify the entire U.S. fleet." Elon Musk, Tesla CEO.…

Egypt Buys Huge Oil Contracts To Hedge Against Rising Prices

Dec 09, 2020 at 11:50 | Charles Kennedy

While oil-producing nations are scrambling to plug budget shortfalls after the price crash, oil importers are benefiting from the low oil prices, and some of them are hedging against higher…

Will The UK Abandon North Sea Oil Exploration?

Dec 09, 2020 at 10:54 | Felicity Bradstock

Following Denmark’s announcement to halt its North Sea production last week, activists and regulators are calling on the U.K. to do the same. Critics argue the withdrawal from…

Oil Plunges After EIA Reports Huge Crude Build

Dec 09, 2020 at 09:47 | Irina Slav

The Energy Information Administration reported today a massive crude oil inventory build of 15.189 million barrels for the week to December 4, after a modest draw of 700,000…

Canada's Oil Heartland Goes Into Lockdown As Covid-19 Infections Surge

Dec 09, 2020 at 07:46 | Irina Slav

Alberta, Canada’s oil heartland, will go on lockdown for at least four weeks beginning this Sunday after a surge in Covid-19 infections that made the province the worst-affected in Canada.…

Russia Braces For Permanent Decline In Oil Demand

Dec 08, 2020 at 16:35 | Irina Slav

Russia has signaled it may be starting to prepare for a permanent decline in crude oil demand over the long term, even after the devastating effects of the…

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