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Energy

Oil Prices Pull Back After A Big Week

Apr 30, 2021 at 12:09 | Michael Kern

It was a big week for oil markets as demand optimism sent oil prices beyond $65 and oil majors reported promising earnings, but prices pulled back on Friday morning as…

M&A Activity In Oil And Gas Drops In March

Apr 30, 2021 at 11:04 | Irina Slav

Mergers and acquisitions in U.S. oil and gas fell by 1.49 percent below the 12-month average last month, according to GlobalData. The biggest deal by far for the month…

Oil Slips On Profit Taking, Stronger U.S. Dollar

Apr 30, 2021 at 10:02 | Tsvetana Paraskova

Oil prices dropped early on Friday as profit-taking and a strengthening U.S. dollar put a stop to this week’s rally that saw prices hitting a six-week high on Thursday. As…

OPEC Production Rises As Iran Continues To Increase Supply

Apr 30, 2021 at 08:46 | Tsvetana Paraskova

OPEC likely raised its total oil production in April, driven by another supply increase from Iran, one of the three OPEC members exempted from the OPEC+ production cuts, according to…

Canada’s Oil Patch Is Preparing For A Production Hike

Apr 29, 2021 at 17:20 | Alex Kimani

At a time when U.S. shale, OPEC+, and dozens of oil producers have laid out blueprints to limit production in a bid to return the global oil industry to its…

Oil Prices Rally Towards $70 As Demand Outlook Improves

Apr 29, 2021 at 17:01 | Irina Slav

Crude oil prices got a major boost this week thanks to optimistic expectations about demand from OPEC+ and rebalancing fuel inventories in the United States. Brent jumped…

The “Great Car Comeback” Brightens Oil Demand Outlook

Apr 29, 2021 at 16:43 | Irina Slav

Despite high vaccination rates in many parts of the world, people appear to be still wary of public transit, opting for personal vehicles, which is driving up demand for crude…

China Snubs U.S. With Huge Iraqi Gas Deal

Apr 29, 2021 at 15:22 | Simon Watkins

The China Petroleum & Chemical Corp. (Sinopec) last week signed a 25-year deal with Iraq’s Ministry of Oil that gives it a 49 per cent stake in the Mansuriya non-associated…

China’s Shale Industry Faces Numerous Challenges

Apr 29, 2021 at 14:59 | Tsvetana Paraskova

China has bet on developing its vast shale gas resources to boost its natural gas supply as demand surges. Despite recent shale production surprises to the upside, China still has…

When Will Oil Demand Fully Recover?

Apr 29, 2021 at 13:09 | Robert Rapier

As the Covid-19 pandemic began to spread last year, I developed an idea. I hypothesized that the pandemic would cause a permanent dent in oil demand. I covered that hypothesis…

Rystad Energy: India’s COVID Crisis Could Result In Global Oil Glut

Apr 29, 2021 at 12:57 | Tsvetana Paraskova

India’s worsening COVID outbreak is set to disturb the nearly balanced global oil market, which will show a surplus of oil supply of as much as 1.4 million barrels per…

Oil Jumps To Six-Week High On Stronger Economic Outlook

Apr 29, 2021 at 11:07 | Tsvetana Paraskova

Oil prices rose early on Thursday to their highest level in six weeks as a brighter outlook on the American economy and oil demand offset bearish demand prospects from the…

IEA: Electric Vehicle Sales Are Soaring Globally

Apr 29, 2021 at 10:05 | Tsvetana Paraskova

Worldwide sales of electric vehicles (EVs) jumped by 41 percent last year while the total global car sales fell in the pandemic-related downturn, the International Energy Agency (IEA) said…

India COVID Crisis Could Slow Global Oil Demand Rebound

Apr 29, 2021 at 09:08 | Tsvetana Paraskova

India’s grim record-setting COVID wave shows the market that the expected rebound in global oil demand this year may not be a straight line up. The world’s third-largest oil importer…

Three Things That Will Drive Oil Prices In May

Apr 28, 2021 at 17:53 | Alex Kimani

The Energy Sector (NYSEARCA:XLE) has taken the lead in the S&P midday sector standings on Wednesday trading, jumping 3.5% as OPEC+ appears ready to stick with earlier plans to…

Amazon, Google and Netflix Are Fighting Over This Rare Gas

Apr 28, 2021 at 15:55 | Editorial Dept

The next supply squeeze that may take markets by surprise isn’t lithium. It isn’t even a battery metal … While everyone is distracted by the media…

Who Will Buy The 1% Stake In Aramco?

Apr 28, 2021 at 14:39 | Cyril Widdershoven

In an interview on Saudi national TV, Saudi Crown Prince Mohammed bin Salman hinted at a possible sale of a 1% stake in Saudi Aramco. MBS claimed that…

Middle East Oil Economies Desperately Need Higher Oil Prices

Apr 28, 2021 at 14:17 | Irina Slav

Big Oil is reporting strong first-quarter results thanks to higher prices, maybe making some shareholders think twice about the whole energy transition thing. But not everyone is happy. Despite the…

Why Nigerian Oil Prices Are Falling

Apr 28, 2021 at 13:59 | Viktor Katona

Although it is a very rare occurrence to see Nigerian grades trade at levels stipulated by the Nigerian National Petroleum Company (NNPC) every month, the issuance of its official selling…

Oil Theft Is A Major Problem In Latin America

Apr 28, 2021 at 13:41 | Matthew Smith

Washington’s focus on disrupting narco-trafficking in Latin America, through a combination of coca crop eradication, enforcement and seizures is placing pressure on criminal organizations to find other sources…

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