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Energy

Oil Rises, But Saudis Face Daunting Dilemma

Jul 26, 2017 at 16:41 | Zainab Calcuttawala

OPEC producers have reached a catch-22 in their quest to rebalance global supply fundamentals for their precious crude oil markets. While deeper cuts are necessary to bring supply and…

Saudi Arabia Growing Nervous Over OPEC Compliance

Jul 26, 2017 at 16:38 | Nick Cunningham

OPEC officials are hoping to limit the production of both Libya and Nigeria, as fears grow that the two exempted members are undermining cuts from the rest of the cartel.…

The Next Big Catalyst In The U.S. Oil Export Boom

Jul 26, 2017 at 13:39 | Irina Slav

The Louisiana Offshore Oil Port plans to start exporting crude by early next year, in the latest indication there’s an oil export boom in the world’s top oil consumer. According…

Indonesia May Return To OPEC But Won’t Cut Production

Jul 26, 2017 at 11:37 | Irina Slav

Indonesia is open to rejoining OPEC, but only if it can determine its own production levels, the country’s Energy and Mineral Resources Minister Ignasius Jonan told Reuters in an…

Trump’s U.S.-Steel Pipeline Plan To Backfire On Energy Projects

Jul 26, 2017 at 10:51 | Tsvetana Paraskova

The U.S. Department of Commerce is due to submit a plan to President Donald Trump regarding a presidential memorandum on the use of American-made steel and iron products in pipelines.…

Strong Draw In Crude Inventories Boosts Oil Prices

Jul 26, 2017 at 09:50 | Irina Slav

The Energy Information Administration once again helped to lift oil market spirits this week by reporting another hefty decline in U.S. commercial crude oil inventories for the week ending…

Shortage Of Fracking Crews Slows The Shale Boom

Jul 25, 2017 at 17:12 | Nick Cunningham

The resurgence in shale drilling and production could be bumping up against some limits, with output expected to fall far short of market expectations for this year and next, according…

Will The UAE Further Boost Its OPEC Compliance?

Jul 25, 2017 at 16:28 | Julianne Geiger

Following Saudi Arabia’s pledge to do the same, the United Arab Emirates announced on Tuesday its plans to reduce oil exports beginning in September of this year. The announcement was…

Why U.S. Shale Drillers Can’t Sell Their Gas

Jul 25, 2017 at 14:15 | Irina Slav

Natural gas output from the U.S. shale formations is at a record high. So are recoverable gas reserves, according to the Potential Gas Committee. This sounds like good news…

New Regulations May Come As A Rude Awakening For Oil Companies

Jul 25, 2017 at 14:10 | Dwayne Purvis

An agency little-known outside accounting circles recently issued draft rules to change the standards which govern the verification of the year-end oil and gas reserves of public companies. The change…

Saudi Arabia Regains Influence Over Oil Markets

Jul 25, 2017 at 13:50 | Tom Kool

Oil prices have spiked at the start of this week, with Brent breaking through the $50 mark in response to Saudi Arabia's promises to cut more oil and its determination…

Oil Prices Spike In Spite Of Bearish EIA Forecast

Jul 25, 2017 at 11:46 | Tsvetana Paraskova

Oil prices have faced increased pressure in 2017; if it’s not Nigeria and Libya output, it’s US shale. If it’s not US shale, it’s predictions of weakening demand. If it’s…

Anadarko Blinks First In The Shale Standoff

Jul 25, 2017 at 10:26 | ZeroHedge

It appears that Horseman Global's Russell Clark may have been spot on with his bearish take on the US shale sector. As a reminder, in his latest letter to…

Russian Oil Minister: Global Glut Shrunk By 350 Million Barrels

Jul 25, 2017 at 09:39 | Irina Slav

Russia’s Energy Minister Alexander Novak said yesterday that over the last six months, global crude oil supply has shrunk by 350 million barrels thanks to the production-cutting efforts of…

Saudis To Take ‘Significant’ Measures To Bolster Oil Prices

Jul 24, 2017 at 16:29 | Gregory Brew

At the meeting of OPEC and non-OPEC producers in St. Petersburg on Monday, Saudi Arabia announced its intention to take further action to bolster flagging oil prices. Saudi oil minister…

Oil Markets Unimpressed By OPEC Meeting

Jul 24, 2017 at 15:59 | Cyril Widdershoven

The 4th OPEC- Non-OPEC Ministerial Monitoring Committee meeting in St Petersburg, Russia, has – as expected- been a renewal of commitment by the leading producers Saudi Arabia, Russia and others,…

Falling Chinese Demand May Be OPEC’s Biggest Dilemma

Jul 24, 2017 at 14:22 | Tsvetana Paraskova

While OPEC is trying to ‘fix’ the supply side of the oil market, demand at one of the world’s top refiners is faltering in the summer—a season on which the…

Nigeria Ups Oil Output Despite Rampant Oil Theft

Jul 24, 2017 at 13:42 | Irina Slav

Things have been mostly good for Nigeria’s oil industry in recent months. The government negotiated a peace with the militants that wreaked havoc on the oil transport infrastructure in the…

Goldman Sachs Warns Of Global Oil Demand Peak

Jul 24, 2017 at 11:54 | Tsvetana Paraskova

Higher vehicle efficiency and electric cars penetration, higher fuel prices, and lower economic growth may lead to a global oil demand peak as soon as in 2024, Goldman Sachs

Ecuador’s Defection From The OPEC Deal Doesn’t Matter

Jul 24, 2017 at 11:47 | Kent Moors

Earlier this week, Ecuador’s Oil Minister Carlos Perez announced that the country would no longer abide by its commitment to the Vienna Accord. That’s the OPEC-Russia deal to cut oil…

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