 |
Louisiana Light • 2 days | 84.25 | -2.54 | -2.93% | ||
|
Bonny Light • 1 day | 84.86 | -0.57 | -0.67% | ||
|
Opec Basket • 2 days | 87.17 | -1.55 | -1.75% | ||
|
Mars US • 182 days | 81.76 | +2.02 | +2.53% | ||
|
Gasoline • 11 mins | 2.615 | +0.018 | +0.70% |
|
Bonny Light • 1 day | 84.86 | -0.57 | -0.67% | ||
|
Girassol • 1 day | 85.78 | -0.59 | -0.68% | ||
|
Opec Basket • 2 days | 87.17 | -1.55 | -1.75% |
|
Peace Sour • 6 hours | 72.15 | -0.05 | -0.07% | ||
|
Light Sour Blend • 6 hours | 75.20 | -0.05 | -0.07% | ||
|
Syncrude Sweet Premium • 6 hours | 82.15 | -0.05 | -0.06% | ||
|
Central Alberta • 6 hours | 72.55 | -0.05 | -0.07% |
|
Eagle Ford • 2 days | 75.48 | -2.93 | -3.74% | ||
|
Oklahoma Sweet • 2 days | 75.50 | -2.75 | -3.51% | ||
|
Kansas Common • 3 days | 72.25 | -0.75 | -1.03% | ||
|
Buena Vista • 4 days | 87.60 | -1.22 | -1.37% |
U.S. Drilling Activity Slips
The total number of active…
Texas Is Preparing for Electricity Demand to Surge
Texas is breaking for electricity…
Azerbaijan Feels the Heat as U.S. House Considers Sanctions
Azerbaijan faces potential sanctions from…
News
Oil Majors May Be Forced To Cut Crude Output In Nigeria
Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to…
Tough Sanctions Force Halliburton To Suspend Most Operations In Venezuela
Halliburton will suspend most of its operations in Venezuela, the company said, after Washington tightened the noose around Caracas by banning U.S. oil companies operating in the country from drilling…
$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy
Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petroleum filed earlier this month. With a…
Energy Transfer Asks For Permission To Turn Pipelines To Oil Storage
Pipeline giant Energy Transfer will be asking the Texas Railroad Commission to allow it to idle two pipelines in Texas and turn them into storage for around 2 million barrels…
Have Investors Been Misled By The Oil Price Crash?
A securities law firm announced on Friday an investigation on behalf of risk-averse investors with Wells Fargo, Morgan Stanley, UBS, and Merrill Lynch who have sustained significant losses recently from investment…
Exxon Makes Sanitizer In Louisiana To Donate To COVID-19 Fight
U.S. oil supermajor ExxonMobil said on Friday it had reconfigured its chemical plant at Baton Rouge, Louisiana, into a facility to make medical-grade sanitizer which will be donated to…
Russia Cuts European Sea Ports Oil Exports To 20-Year-Low
Russia is preparing to significantly reduce the oil supply to the market from its Baltic and Black Sea ports—to the lowest in two decades in May when the OPEC+ production…
Mexico’s Pemex Suspends Fuel Imports From U.S. As Demand Tanks
Mexico’s Pemex declared force majeure on fuel imports, which it receives from the United States, because of tanking demand, Reuters reported, citing two unnamed sources. Bloomberg quoted another unnamed source that…
Oil Giant Shutters North Dakota Crude Production
Continental Resources has stopped drilling operations and shut in most of its wells in North Dakota, Reuters reports, citing sources familiar with the situation, who also added that the company…
In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal
A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota…
OPEC’s No.3 Already Started Cutting Oil Supply
Although the new OPEC+ agreement goes into effect on May 1, OPEC’s fourth-largest producer, Kuwait, has already started to reduce crude oil supply to international markets “sensing a responsibility responding…
Brokers Warn Clients Against ‘Dangerous’ Oil Futures
After the WTI Crude futures collapsed into negative territory this week, some brokerages have started to limit the ability of their smaller customers to place new trades in the June futures…
Canada’s Oil Has Nowhere To Go As The US Runs Out Of Storage
Collapsing demand and brimming storage in the United States, Canada’s almost exclusive oil outlet, have resulted in a very usual situation in the Canadian oil industry. Prices for delivery at…
Saudi Arabia To Take On Billions In Debt To Survive The Oil Price Crisis
Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed…
Decarbonizing U.S. Electricity For $25 A Year
In our fractious domestic politics, squabbles over infrastructure spending are as old the republic. But here we propose an infrastructure project of considerable scope that the country needs and which…
U.S. Probes Insider Trading Tied To OPEC+ Oil Deal
The U.S. Commodity Futures Trading Commission (CFTC) is investigating whether non-American traders had obtained insider information about Russia’s position in the OPEC+ negotiations last month, which they may have later…
OPEC Producers See Market Share Evaporate In India
The world’s third-biggest oil importer, India, saw its imports from OPEC producers slump to a 19-year-low in the fiscal year 2019/2020 ended in March, Reuters reported on Thursday, citing data from…
Washington Won’t Cut Offshore Royalty Rates
The federal government will keep royalty rates for offshore oil production despite a push from the industry to lower the payments burden amid the covid-19 crisis, a Louisiana senator told Reuters.…
The World’s Largest Oil Fund Scrambles To Survive, Reshuffles Holdings Again
The managers of the infamous USO ETF really do not want to be dissolve this "retail killer" which in Kyle Bass's words has "vaporized billions from unweary investors this week alone." Just…
With Oil Hedged At $49, Mexico Saves $6.2 Billion As Prices Crash
As the oil price crash squeezes oil companies across the globe, Mexico’s Hacienda Hedge is set to deliver $6.2 billion to the Latin American country, Mexico’s President Manuel Lopez Obrador…
