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Article Archive | Page 7

Second COVID Wave In China Could Upend Crude Recovery

Jun 29, 2020 at 17:26

As the world’s largest net importer of crude oil and other liquids since September 2013, any significant variation in Chinese demand for oil resonates quickly and profoundly in global oil…

How The Fed Bailed Out U.S. Oil And Gas

Jun 29, 2020 at 17:08

The Trump administration has taken dozens of actions during the Covid-19 pandemic to benefit the oil and gas industry, such as opening new lands for leasing, watering down…

Colombia Is An Overlooked Victim Of The Oil Price War

Jun 29, 2020 at 17:02

The considerable optimism surrounding oil at the end of 2019, when Brent was trading at $68 a barrel has turned sour. The demand shock triggered by the coronavirus…

Tighter Markets End Lucrative Oil Trade

Jun 29, 2020 at 15:55

From a super contango in April, the Brent Crude futures curve has flattened and flipped to backwardation for the nearest months, wiping out was is seen as one…

OPEC+ Is Still Producing Too Much Oil

Jun 29, 2020 at 14:58

OPEC further restricted its oil production in June compared to May as it aims to withhold a record volume of supply from the market together with its non-OPEC allies led…

Fossil Fuels Make Up 84 Percent Of The Global Energy Market

Jun 29, 2020 at 14:02

This week BP released its Statistical Review of World Energy 2020. The Review covers energy data through 2019, and provides a comprehensive picture of…

U.S. Commercial Crude Oil Stocks Hit Record High

Jun 29, 2020 at 12:57

The United States held a record-high level of commercial crude oil inventories as of the week to June 19 following the collapse in demand in the lockdown and the slow…

Iraq Set To Fall Short Of Ambitious OPEC+ Targets

Jun 29, 2020 at 11:55

Iraq produced more than 650,000 barrels per day (bpd) above its target output level in May and is now being asked to make up for its non-compliance…

Suppliers Fight For Dominance In This Crucial Gas Market

Jun 29, 2020 at 11:06

Europe’s Mediterranean region is emerging as Europe’s main front of commercial rivalry – natural gas producers that rely on pipeline supplies and utilize primarily oil-indexed or hybrid-pricing terms are taking…

Chinese Oil Majors Could Form A Powerful Buyers Club

Jun 29, 2020 at 10:00

China’s state-owned oil companies—Sinopec, CNOOC, PetroChina, and Sinochem—are discussing an arrangement to buy crude oil together instead of individually, to avoid bidding wars and gain more bargaining power, unnamed sources…

Shale Giant Chesapeake Files For Bankruptcy

Jun 29, 2020 at 09:10

Chesapeake Energy has filed for Chapter 11 bankruptcy protection, the company said to day, adding that it had signed a restructuring support agreement with creditors. The restructuring support agreement, which…

Natural Gas Price Plunge Could Soon Lead To Shut-Ins

Jun 26, 2020 at 17:39

Natural gas prices plunged to new lows this week, falling below $1.50/MMBtu, a catastrophically low price for U.S. gas drillers.  The factors afflicting the gas market…

The Long Road To Oil Demand Recovery

Jun 26, 2020 at 17:36

Fuel demand in the United States has been gradually increasing in recent weeks, clawing back over half of the consumption lost during the first couple of weeks of…

U.S. LNG Industry Needs Prices To Double

Jun 26, 2020 at 17:34

Last week, Tellurian said it would make the final investment decision on the Driftwood LNG project next year. On the one hand, the…

Imploding Car Sales Weigh On Battery Metals Market

Jun 26, 2020 at 17:31

Car sales are tanking the world over: Europe is likely to experience a 20–25% drop in overall sales, the US is running at an annualized rate of little over 12m…

Peak Fuel Demand Will Occur Within 10 Years

Jun 26, 2020 at 17:27

It has been a tough few months for the oil industry, and there’s more pain on the way as the industry struggles with disruptive forces that could completely…

2020 Will Be A Brutal Year For Coal

Jun 26, 2020 at 17:27

As if the economic fallout from the novel coronavirus pandemic weren’t enough, a series of trade battles have redoubled the United States’ economic woes in recent weeks. Like…

30% Of U.S. Shale Drillers Could Go Under

Jun 26, 2020 at 17:26

U.S. shale was one of the big losers of the Saudi-Russian price war that many saw as a war on U.S. shale. Producers scrambled to stay afloat as…

Do Gold Stocks Still Have Upside?

Jun 26, 2020 at 17:20

Gold miners’ stocks rocketed out of mid-March’s stock panic, breaking out to major new bull-market highs in mid-May. Such blisteringly-fast gains, and gold stocks’ upleg stalling out since, have left…

Russian Mercenaries Block Output Restart At Libya’s Largest Oilfield

Jun 26, 2020 at 13:09

Russian and other foreign mercenaries entered the Sharara oilfield on Thursday evening to prevent the resumption of oil production at the largest Libyan oilfield, Libya’s National Oil Corporation (NOC) said on…

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