• 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
  • 8 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
  • 35 mins 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

The World's Largest Oil Company Sees Profits Fall By $22 Billion

The World's Largest Oil Company Sees Profits Fall By $22 Billion

Mar 16, 2020 at 12:09 | Irina Slav

Saudi Aramco reported a net profit of $88.2 billion for 2019, down from $111.1 billion a year earlier as low oil prices and production curbs took their toll on…

U.S. To Buy 77 Million Barrels Of Crude For Strategic Petroleum Reserve

U.S. To Buy 77 Million Barrels Of Crude For Strategic Petroleum Reserve

Mar 16, 2020 at 10:05 | Irina Slav

The United States will start buying crude oil for the Strategic Petroleum Reserve within the next two weeks, with plans to buy around 77 million barrels, Bloomberg reported. The…

Oil Prices Crash 10% On Coronavirus Chaos

Oil Prices Crash 10% On Coronavirus Chaos

Mar 16, 2020 at 08:56 | Tsvetana Paraskova

Benchmark U.S. oil prices plunged to below $30 a barrel early on Monday, while Brent Crude crashed by 10 percent, as the markets were spooked, rather than calmed, by the…

The World’s Biggest Oil Trader Negotiates Venezuela Oil Purchase

The World’s Biggest Oil Trader Negotiates Venezuela Oil Purchase

Mar 13, 2020 at 18:53 | Tsvetana Paraskova

The largest independent oil trader in the world, Vitol Group, is discussing the purchase of Venezuelan crude oil from a Mexican firm that had received the crude in exchange for…

Global Jet Fuel Demand To Slump 11% Amid Coronavirus Outbreak

Global Jet Fuel Demand To Slump 11% Amid Coronavirus Outbreak

Mar 13, 2020 at 16:36 | Tsvetana Paraskova

Jet fuel demand will be the hardest hit fuel sector as the coronavirus outbreak spreads across the world, countries impose travel restrictions, and airlines continue to cancel thousands of flights,…

Canada’s Husky Energy Slashes Spending As Low Oil Prices Bite

Canada’s Husky Energy Slashes Spending As Low Oil Prices Bite

Mar 13, 2020 at 14:02 | Tsvetana Paraskova

Canada’s Husky Energy is the latest North American oil firm to slash spending amid collapsing oil prices, saying that it is reducing its capital budget by US$648 million (C$900…

China’s Top Oil Trader To Cancel Middle East Crude Imports

China’s Top Oil Trader To Cancel Middle East Crude Imports

Mar 13, 2020 at 12:42 | Tsvetana Paraskova

Even though OPEC is now flooding the market with cheap oil, Unipec – the trading unit of Asia’s largest refiner, Chinese Sinopec – is attempting to defer or cancel the…

U.S. Shale Drillers Ask Service Providers For Major Price Cuts

U.S. Shale Drillers Ask Service Providers For Major Price Cuts

Mar 13, 2020 at 11:13 | Irina Slav

U.S. shale oil companies have asked oilfield service providers for price cuts of at least 25 percent as they grapple with tanking oil prices and pessimistic oil demand forecasts, Reuters…

Alberta Prepares Low-Interest Credit For Oil Industry

Alberta Prepares Low-Interest Credit For Oil Industry

Mar 13, 2020 at 10:28 | Irina Slav

The Albertan government is preparing a low-interest credit package for the struggling oil industry in Canada’s oil heartland to mitigate the worst consequences of the latest price collapse. "We are…

Venezuela Looks To Play Mediator Between OPEC And Russia

Venezuela Looks To Play Mediator Between OPEC And Russia

Mar 12, 2020 at 18:57 | Julianne Geiger

Venezuela is in discussions with OPEC and Russia about the current oil price collapse, Nicolas Maduro said on Thursday at a press conference shown on Twitter, according to Russian news…

Alaska Could Become An Early Victim Of The Oil Price War

Alaska Could Become An Early Victim Of The Oil Price War

Mar 12, 2020 at 18:44 | Tsvetana Paraskova

Alaska, the U.S. state most dependent on taxes and other income from the oil and gas industry, could be in for a severe budgetary headache after the oil price crash…

OPEC’s No.2 Suffers From Saudi-Russian Oil Price War

OPEC’s No.2 Suffers From Saudi-Russian Oil Price War

Mar 12, 2020 at 18:35 | Tsvetana Paraskova

OPEC’s second-largest producer, Iraq, has been grappling with street protests for months and the coronavirus outbreak for a few weeks, and now it faces another tough ­test for its finances—the…

US Crude Oil Exports Surge To 3 Million Bpd In 2019 

US Crude Oil Exports Surge To 3 Million Bpd In 2019 

Mar 12, 2020 at 17:09 | Tsvetana Paraskova

Surging shale production and growing global demand for light low-sulfur oil helped U.S. crude exports to soar by 45 percent year on year in 2019, reaching an average of 2.98…

Russia’s Big Bet Against U.S. Oil Is Very High Risk

Russia’s Big Bet Against U.S. Oil Is Very High Risk

Mar 12, 2020 at 13:46 | RFE/RL staff

For years now, Russia has been laser-focused on insulating itself from an external economic shock.It may have just sparked one.In an unexpected move on March 6,…

US Big Oil Employees Risk Savings As Share Prices Slide

US Big Oil Employees Risk Savings As Share Prices Slide

Mar 12, 2020 at 13:20 | Irina Slav

Employees at U.S. oil supermajors have lost $5 billion in savings since the end of 2018 as more than a third of these savings were in company…

Tesla Plans To Ditch Cobalt In New Batteries

Tesla Plans To Ditch Cobalt In New Batteries

Mar 12, 2020 at 11:28 | Metal Miner

Reuters recently reported on Tesla’s announcement that it is in advanced talks to use batteries from China’s Contemporary Amperex Technology Co Ltd (CATL) that contain no cobalt specifically for use in cars made at Tesla’s…

OPEC+ Panel Cancels Next Week’s Meeting

OPEC+ Panel Cancels Next Week’s Meeting

Mar 12, 2020 at 10:19 | Tsvetana Paraskova

The March 18 meeting of the OPEC+ panel monitoring the oil market and producers’ compliance with quotas has been canceled, a source in one delegation told Russia’s news agency

U.S. Discusses Buying Oil For SPR To Help Shale Drillers

U.S. Discusses Buying Oil For SPR To Help Shale Drillers

Mar 11, 2020 at 19:11 | Tsvetana Paraskova

Oil industry representatives have pitched for discussion to the U.S. Administration the idea that Washington buy cheap crude oil to replenish the Strategic Petroleum Reserve, which would also remove millions…

Oil Tycoon Hamm May File Complaint Against Saudis For Flooding Oil Markets

Oil Tycoon Hamm May File Complaint Against Saudis For Flooding Oil Markets

Mar 11, 2020 at 18:10 | Julianne Geiger

US Shale tycoon Harold Hamm has plans to file an official complaint with the US Department of Commerce against Saudi Arabia, according to Bloomberg, after the Kingdom unleashed a…

China’s Refiners Love The Saudi-Russia Oil Price War

China’s Refiners Love The Saudi-Russia Oil Price War

Mar 11, 2020 at 16:32 | Tsvetana Paraskova

China’s independent refiners, which buy a fifth of total Chinese crude oil imports, are increasing their run rates and buying ultra-cheap crude, taking advantage of the Saudi-Russia price war, Reuters…

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