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Article Archive | Page 4

Slipping Rig Count Can’t Keep Oil Prices From Falling

Slipping Rig Count Can’t Keep Oil Prices From Falling

Dec 14, 2018 at 12:19

Baker Hughes reported a 4-rig decrease for oil and gas in the United States this week—a loss in rigs for the third week in a row. The four-rig decline was…

Libya’s NOC Won’t Pay ‘Ransom’ For Biggest Oil Field

Libya’s NOC Won’t Pay ‘Ransom’ For Biggest Oil Field

Dec 14, 2018 at 10:49

Libya’s National Oil Corporation said it would not pay a “ransom” to have the armed militiamen that shut down the field last week lift their blockade, the company’s chairman said…

Chinese-Venezuelan Joint Venture Doubles Oil Production

Chinese-Venezuelan Joint Venture Doubles Oil Production

Dec 14, 2018 at 08:43

A joint venture between troubled Venezuelan state oil company PDVSA and China’s CNPC in the South American country has doubled its oil production in the past seven months, Reuters reported…

The U.S. Oil Industry’s Dirty Little Secret

The U.S. Oil Industry’s Dirty Little Secret

Dec 13, 2018 at 16:14

The oil industry engaged in a secret public relations campaign to undermine U.S. fuel economy standards, according to a new investigation from the New York Times. One of the…

IEA: OPEC+ Has Put “A Floor Under Prices”

IEA: OPEC+ Has Put “A Floor Under Prices”

Dec 13, 2018 at 15:51

The OPEC+ agreement succeeded in at least putting “a floor under prices,” according to a new report from the International Energy Agency.  The global supply surplus is not resolved, and…

Is This The New Swing Producer In The Middle East?

Is This The New Swing Producer In The Middle East?

Dec 13, 2018 at 14:01

The United Arab Emirates (UAE) is now OPEC’s third-biggest producer, having surpassed Iran whose output has plunged below 3 million bpd with the U.S. sanctions on Iranian oil. The UAE,…

What Would The End Of OPEC Mean?

What Would The End Of OPEC Mean?

Dec 13, 2018 at 13:53

The Organization of the Petroleum Exporting Countries - the oil market institution that has exerted an unyielding power over the price of crude for nearly 60 years - is now…

What’s Behind The Plunge In LNG Prices?

What’s Behind The Plunge In LNG Prices?

Dec 13, 2018 at 13:41

Spot prices for liquefied natural gas (LNG) in Asia continues to drop, plunging to six-month lows in recent trading, an unusual move for the super-cooled fuel given this time…

Saudi Arabia Can Outwait The Khashoggi Crisis

Saudi Arabia Can Outwait The Khashoggi Crisis

Dec 13, 2018 at 11:52

On 10 November 2018, Turkey shared with Western and Saudi officials the audio recording that proved Saudi Arabia was responsible for the murder Washington Post columnist Jamal Khashoggi on October 2nd.…

No, The U.S. Is Not A Net Exporter Of Crude Oil

No, The U.S. Is Not A Net Exporter Of Crude Oil

Dec 13, 2018 at 11:32

Last week Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. I have seen a…

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