• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days Could Someone Give Me Insights on the Future of Renewable Energy?
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 5 hours They pay YOU to TAKE Natural Gas
  • 7 days e-truck insanity
  • 5 days An interesting statistic about bitumens?
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

News

Western Canadian Select Falls Below $5

Western Canadian Select Falls Below $5

Apr 15, 2020 at 11:31 | Michael Kern

Canadian oil is struggling. And I mean really, really having a tough time. Alberta's benchmark, Western Canadian Select, is now cheaper than a…

Chinese Oil Giant Helps Kuwait Turn Refinery Project Into Hospital

Chinese Oil Giant Helps Kuwait Turn Refinery Project Into Hospital

Apr 15, 2020 at 10:46 | Tsvetana Paraskova

China Petroleum & Chemical Corporation, or Sinopec, is helping Kuwait to remodel a camp at a refinery into a hospital to treat the rising number of coronavirus patients in one…

IEA: Huge Oil Build Threatens To Fill Up Global Storage Within Weeks

IEA: Huge Oil Build Threatens To Fill Up Global Storage Within Weeks

Apr 15, 2020 at 10:42 | Tsvetana Paraskova

The historic OPEC+ production cut deal may have prevented a total disaster in the oil market, but it will be unable to stave off the impending global oil inventory build…

North Dakota Oil Producers Idle 25% Of Wells

North Dakota Oil Producers Idle 25% Of Wells

Apr 15, 2020 at 09:30 | Irina Slav

Oil producers operating in North Dakota have idled more than a quarter of the oil wells in the state, the AP reported, citing a statement by a state regulator to…

Oil Hits $20 After API Reports Mega Crude Inventory Build

Oil Hits $20 After API Reports Mega Crude Inventory Build

Apr 14, 2020 at 15:44 | Julianne Geiger

The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 13.143 million barrels for the week ending April 10 as demand destruction stemming from the…

Oil Falls As Saudi Arabia Launches New Price War With Record Discounts

Oil Falls As Saudi Arabia Launches New Price War With Record Discounts

Apr 14, 2020 at 14:47 | Michael Kern

This weekend's 11th hour decision to cut OPEC oil output by 23% was supposed to end the oil price war between Saudi Arabia and the rest of OPEC+, but it…

Belarus To Launch New Nuclear Power Plant This Autumn

Belarus To Launch New Nuclear Power Plant This Autumn

Apr 14, 2020 at 13:25 | RFE/RL staff

Officials in Minsk say a nuclear power plant being constructed in western Belarus will be launched during the summer and start producing electricity in the autumn.Energy Minister Viktar…

U.S. May Help Oil Producers By Offering Storage Space In SPR

U.S. May Help Oil Producers By Offering Storage Space In SPR

Apr 14, 2020 at 12:33 | Tsvetana Paraskova

The U.S. Department of Energy is negotiating contracts with nine U.S. oil producers to store a total of 23 million barrels of their produced oil in the Strategic Petroleum Reserve…

Exxon Issues $9.5 Billion In Fresh Debt

Exxon Issues $9.5 Billion In Fresh Debt

Apr 14, 2020 at 10:38 | Irina Slav

Exxon sold $9.5 billion in new debt this week ahead of earnings season, amid a rush among oil companies to create for themselves financial cushions against further blows from the…

China Stockpiled Ultra Cheap Crude During Lockdown

China Stockpiled Ultra Cheap Crude During Lockdown

Apr 14, 2020 at 09:33 | Irina Slav

China imported crude oil at an average rate of around 10.38 million bpd, for a total of 43.91 million tons, according to calculations made by Reuters. The total for the…

Texas Oil Regulators Could Mandate 20% Output Cuts

Texas Oil Regulators Could Mandate 20% Output Cuts

Apr 13, 2020 at 18:10 | Michael Kern

With crude prices plummeting to 20 year lows and a local industry in shambles, Texas oil regulators are contemplating the unthinkable: cutting statewide…

U.S. Shale Production To Drop By Record Amount In April

U.S. Shale Production To Drop By Record Amount In April

Apr 13, 2020 at 17:59 | Julianne Geiger

The EIA expects U.S. shale oil production to drop next month to 8.526 million barrels per day in the seven most prolific shale basins in the United…

Baker Hughes Slashes Capex, Books Huge $15 Billion Write-down

Baker Hughes Slashes Capex, Books Huge $15 Billion Write-down

Apr 13, 2020 at 17:02 | Tsvetana Paraskova

Baker Hughes expects to book a non-cash goodwill impairment charge of US$15 billion in Q1 and plans to slash capital expenditure (capex) by 20 percent this year in response to…

Saudis To Issue Debt As Price Crash And Oil Deal Hit Revenues

Saudis To Issue Debt As Price Crash And Oil Deal Hit Revenues

Apr 13, 2020 at 16:53 | Tsvetana Paraskova

OPEC’s top producer and the world’s top oil exporter, Saudi Arabia, may soon tap the international debt market to raise money as the oil price crash and the historic oil…

Could U.S. Airlines Be Nationalized?

Could U.S. Airlines Be Nationalized?

Apr 13, 2020 at 14:57 | Michael Kern

With airlines facing a $250-billion loss in revenue for 2020 at a minimum, the additional $35 billion they might have to pay in the form of refunds over…

China’s Oil Imports Suffer From Sharp Drop In Economic Growth

China’s Oil Imports Suffer From Sharp Drop In Economic Growth

Apr 13, 2020 at 12:43 | Tsvetana Paraskova

China’s oil imports may have declined in March, a Reuters poll of 31 economists showed on Monday, while experts expect China’s economy to have sharply contracted in the first quarter…

Venezuela Grapples With Extreme Gas Shortage Amid COVID-19 Crisis

Venezuela Grapples With Extreme Gas Shortage Amid COVID-19 Crisis

Apr 13, 2020 at 11:00 | Irina Slav

A group of private oil services companies in Venezuela has called on the government to relax stringent rules against gasoline imports amid critical shortages of the essential fuel, Reuters reports,…

G20 Oil Nations Agree To 3.7 Million Bpd Cut

G20 Oil Nations Agree To 3.7 Million Bpd Cut

Apr 13, 2020 at 09:33 | Irina Slav

Oil producers from G20 have agreed to reduce their combined crude oil output by 3.7 million bpd, according to Iran’s Oil Minister, Bijan Zanganeh, as quoted by IRNA. G20 met on…

Tesla Sets Sales Record In China Despite Coronavirus Crisis

Tesla Sets Sales Record In China Despite Coronavirus Crisis

Apr 10, 2020 at 17:18 | Tsvetana Paraskova

Tesla has just had its best month in China, selling a record high number of electric vehicles in March despite a 41-percent plunge in overall car sales in the world’s…

Trump Confirms U.S. Will Help Mexico Out With Production Cuts

Trump Confirms U.S. Will Help Mexico Out With Production Cuts

Apr 10, 2020 at 14:29 | Julianne Geiger

U.S. President Donald Trump on Friday confirmed that the United States would “help Mexico along” in achieving the production requests that OPEC+ has asked it to make.…

Oilprice - The No. 1 Source for Oil & Energy News