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IEA: The Global Oil Glut Is Gone

IEA: The Global Oil Glut Is Gone

In its latest report, the…

Oil Investment Lags Jump In Crude Prices

Oil Investment Lags Jump In Crude Prices

Investment in new oil and…

Energy

Oil Prices Rally Despite Bearish Backlash

Apr 28, 2021 at 12:13 | Yousef Alshammari

Despite the re-emerging Covid 19 crisis in India, oil prices maintained momentum even as OPEC+ has decided to go ahead with previously agreed production hike plans. Oil prices…

Goldman: Oil To Hit $80 On Largest Ever Demand Jump

Apr 28, 2021 at 11:10 | Tsvetana Paraskova

Goldman Sachs expects global oil demand to realize the biggest jump ever over the next six months, the investment bank said on Wednesday, keeping its bullish forecasts for oil prices…

Oil Creeps Higher After EIA Data Report

Apr 28, 2021 at 09:41 | Irina Slav

Crude oil moved higher today after the Energy Information Administration reported a small inventory build of 100,000 barrels for the week to April 23. At 493.1 million barrels, oil…

Aramco Could Sell 1% Stake To ''Leading Global Energy Company''

Apr 28, 2021 at 09:01 | Irina Slav

The government of Saudi Arabia is negotiating the sale of a 1-percent stake in Aramco to a "leading global energy company", according to Crown Prince Mohammed, as quoted by…

Cautious Hedging Costs U.S. Drillers Billions

Apr 27, 2021 at 17:53 | Irina Slav

A month ago, ConocoPhillips warned it would book a $600-million impairment to its first-quarter profits from its acquisition of Concho Resources and, as Reuters reported at the time, related…

European Oil Majors Out-Traded U.S. Peers In 2020

Apr 27, 2021 at 17:22 | Julianne Geiger

Last year might have been a harrowing one for oil markets, but dozens of big-time oil traders netted tons of profit harnessing the volatility opportunities. Exxon wasn't among them.  The…

Oil Markets On Edge As Iranian Elections Loom

Apr 27, 2021 at 16:41 | Cyril Widdershoven

A major threat is brewing for international oil and commodity markets in the coming months. There has been an increase in the amount of drone and missile attacks…

Is California’s Fracking Ban A Big Deal For The Oil Industry?

Apr 27, 2021 at 15:23 | Tsvetana Paraskova

“California needs to move beyond oil,” Governor Gavin Newsom said on Friday when he directed the Department of Conservation’s Geologic Energy Management (CalGEM) Division to initiate regulatory action to…

OPEC+ Buoys Oil Despite India Concerns

Apr 27, 2021 at 13:20 | Tom Kool

Have you already subscribed to the Oilprice.com youtube channel? If not, sign up today to make sure you don't miss out on any of the

Exxon Makes Another Oil Discovery Offshore Guyana

Apr 27, 2021 at 12:22 | Charles Kennedy

ExxonMobil and its partner Hess announced on Tuesday a new oil discovery in the Stabroek Block offshore Guyana that would add to the already announced 9 billion oil-equivalent barrels…

Egypt Restarts Major LNG Project On Rising Demand

Apr 27, 2021 at 12:04 | Vanand Meliksetian

In the late 90s of the previous century and early years of this century, Egypt in collaboration with international partners started the development of its LNG sector. This resulted in…

Can Big Oil Lure Investors Back?

Apr 27, 2021 at 11:05 | Tsvetana Paraskova

The world’s largest oil companies are widely expected to start reporting this week profits for the first quarter of 2021 after a nightmare 2020 that forced some of them to…

Energy Secretary Urges Oil Industry To Not Become Kodak

Apr 27, 2021 at 10:01 | Charles Kennedy

Oil companies in the United States need to diversify or risk falling behind during the energy transition, Energy Secretary Jennifer Granholm said during a virtual event organized by Politico.…

Oil Prices Climb As OPEC+ Holds Firm On Output Cuts

Apr 27, 2021 at 09:07 | Tsvetana Paraskova

The OPEC+ group will not hold a full ministerial meeting on Wednesday as planned, delegates at the Joint Ministerial Monitoring Committee (JMMC) agreed at their meeting on Tuesday, signaling confidence…

The 5 Most Influential Oil Companies In The World

Apr 26, 2021 at 18:11 | Alex Kimani

In a virtual climate summit with 41 world leaders, President Joe Biden on Thursday unveiled an ambitious 10-year Climate Plan that has proposed cutting U.S. greenhouse gas emissions by 50-52%…

Suriname Hopes To Become South-America’s Newest Oil Exporter

Apr 26, 2021 at 18:02 | Matthew Smith

As Guyana prepares to become a major oil production nation the spotlight is firmly on the Guyana-Suriname Basin and the former British colony’s neighbor Suriname. After decades of…

Libyan Oil Production Surprise Puts Pressure On Prices

Apr 26, 2021 at 17:00 | Simon Watkins

Given the ongoing imbalance between global oil supply and demand in the wake of the major waves of Covid-19 that hit the world last year, news that Libya is now…

Many European Refiners May Not Survive COVID

Apr 26, 2021 at 14:16 | Viktor Katona

The coronavirus pandemic has shortened Europe’s energy transition. What was initially perceived as a gradual movement towards fewer emissions and greener generation has now become an unprecedently ambitious endeavour –…

EU Admits It Can’t Go Net-Zero Without Natural Gas

Apr 26, 2021 at 14:13 | Irina Slav

Last week saw some much-needed good news for natural gas. The European Union signaled that it would include natural gas in its energy plans for the future, emissions and all.…

Libya’s Oil Production Set To Recover As Force Majeure Is Lifted

Apr 26, 2021 at 11:10 | Tsvetana Paraskova

After falling below 1 million barrels per day (bpd) last week, Libya’s oil production could be set for recovery above that mark again, as the National Oil Corporation (NOC) said…

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