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Energy

U.S. Oil Producers Take Their Crude Back From The Government

Aug 11, 2020 at 09:11 | Irina Slav

U.S. oil companies have started pulling their crude oil back from government storage tanks, suggesting that the glut that forced them to stash it there in the first place is…

Here’s How Oil Could Skyrocket By 138%

Aug 10, 2020 at 17:38 | David Messler

The market is gradually beginning to give credence to something I've been discussing in past OilPrice articles for a long time now. In a June, 2020 article entitled,…

OPEC’s No.2 Drags Down Output Cut Compliance Rate

Aug 10, 2020 at 17:16 | Julianne Geiger

Since the landmark deal that saw OPEC+ agree to cut nearly 10 million barrels per day of oil production to clear the global gut created by the coronavirus pandemic and…

Green Hydrogen Prices Are Set To Drop By 50% During The Next Decades

Aug 10, 2020 at 16:30 | Irina Slav

Hydrogen, the most abundant element in the universe, has been stealing the spotlight from EVs and renewables lately. From a sort of boutique car fuel a couple of…

Russia Looks To Lure Shell Into New Arctic Oil Project

Aug 10, 2020 at 15:56 | Simon Watkins

Central now to Russia’s hydrocarbons-related power is its Arctic sector oil and gas reserves. These comprise over 35,700 billion cubic metres of natural gas and over 2,300 million…

Big Oil Forced To Change Strategy After The Oil Price Crash

Aug 10, 2020 at 15:02 | Tsvetana Paraskova

In one of the most challenging quarters for the oil industry in recent memory, the five Big Oil firms wrote down nearly US$50 billion from the value of…

Aramco Aims To Boost Production Capacity To 13 Million Bpd

Aug 10, 2020 at 12:59 | Julianne Geiger

While the world is still awash with oil that it cannot quickly get rid of during a time of historic demand crumbling, the world’s largest oil company is looking to…

A String Of Bullish News Is Propping Up Oil Prices

Aug 10, 2020 at 12:18 | Yousef Alshammari

Crude oil markets remained optimistic over the past week supported by several bullish factors. Brent spot prices rose above $46 for the first time since April on a much weaker US…

Saudi Aramco: Asian Oil Demand Recovery Almost At Pre-Crisis Levels

Aug 10, 2020 at 10:57 | Tsvetana Paraskova

The world’s biggest oil-producing and oil-exporting company, state oil giant Saudi Aramco, is optimistic about the pace of oil demand recovery in Asia, chief executive Amin Nasser said on…

Saudi Aramco Sticks With Big Dividend Despite Oil Crash

Aug 10, 2020 at 09:08 | Irina Slav

Saudi Arabia’s oil giant Aramco said it will distribute dividends of $18.75 billion for the second quarter despite taking a severe hit to its earnings from the oil price crash…

Libya's Oil Blockade Will Help Clear The Global Supply Glut

Aug 07, 2020 at 16:11 | Charles Kennedy

Libya's port blockade is set to keep the North African country's oil off the market until at least the fourth quarter of 2020, which, as devastating as it will be…

Oil Prices Post Weekly Gain Despite Struggling Demand

Aug 07, 2020 at 16:08 | Tsvetana Paraskova

Oil prices were down early on Friday as demand concerns persist, but prices were on track for a weekly gain after hitting a five-month high as the U.S. dollar weakened…

The Oil And Gas Industry Is Going Remote

Aug 07, 2020 at 13:57 | Irina Slav

If there was one thing the last oil price crisis proved, it was this: despite the devastation that low oil prices can wreak on an industry, they can…

Alberta Missed Its Chance To Mint A Province Of Oil Millionaires

Aug 07, 2020 at 13:57 | Alex Kimani

Back in 2014, every citizen in oil-rich Norway became a theoretical millionaire after the country's oil fund - the world's largest sovereign wealth fund - crossed the $1…

Are Oil Majors Giving Up On Guyana?

Aug 07, 2020 at 13:57 | Viktor Katona

Guyana has become one of the main upstream stars of the past decade, rising from zero to hero in less than 5 years. Much of Guyana’s rise to…

Weak Oil Demand Could Spark Another Market Share Showdown

Aug 07, 2020 at 13:48 | Tsvetana Paraskova

Saudi Arabia, the world’s top oil exporter and the main force behind the OPEC+ production cuts, faces a too familiar dilemma just four months into the new collective…

Massive Losses Force Glencore To Slash Dividends

Aug 07, 2020 at 13:17 | MINING.com

Miner and commodities trader giant Glencore (LON: GLEN) posted a $2.6 billion loss for the first half of the year and scrapped its…

COVID Fears Cause Oil To Fall Back After A Brief Rally

Aug 07, 2020 at 12:40 | Tom Kool

Oil spiked on a larger than expected inventory draw this week, but fears of a second wave of COVID have caused crude prices to retreatFor Global Energy Alert…

U.S. Oil Rig Count Falls To Lowest Level Since 2009

Aug 07, 2020 at 12:17 | Julianne Geiger

Baker Hughes reported on Friday that the combined oil and gas rig count in the U.S. fell this week by 4, to 247. The total oil and gas rigs are…

COVID Fears Drive Oil Prices Downwards

Aug 07, 2020 at 11:39 | Editorial Dept

U.S. West Texas Intermediate crude oil futures are trading lower on Friday but in a position to close out the week with a small gain after hitting a multi-month high…

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