Russian President Vladimir Putin said on Thursday the $50 per barrel price for oil factored in the 2016 budget was too optimistic and the government needed to make adjustments. “We Continue Reading
President Vladimir Putin is likely to use his annual news conference on Thursday to try to reassure Russians as slumping oil prices threaten his efforts to pull the economy out Continue Reading
President Vladimir Putin on Friday said the government may have to cut the federal budget as the price of oil falls, but he tried to assure Russians that the worst Continue Reading
Russia is planning for oil prices to drop to $30 per barrel in 2016. The country’s top finance official, Anton Siluanov, said the government must be prepared for prices to Continue Reading
Financial Crisis 2015 – Public Domain Just within the past few days, three major high yield funds have completely imploded, and panic is spreading rapidly on Wall Street. Funds run Continue Reading
This year’s big news regarding the reporting of oil reserves in World Energy Outlook 2015 is that this annual report now discusses “resources that are technically possible to produce” and Continue Reading
Oil prices are lower Wednesday as the markets remain jittery leading up to today’s decision by the U.S. Federal Reserve on whether to raise interest rates. Global benchmark Brent has Continue Reading
Crude oil fell in Asian trade on Wednesday, snapping gains that pulled prices back from testing 11-year lows, as investors awaited the outcome of a Federal Reserve meeting, where interest Continue Reading
U.S. crude-oil stocks are expected to decrease in data due Wednesday from the Department of Energy, according to a survey of analysts by The Wall Street Journal. Estimates from 11 Continue Reading
Oil markets gained on Tuesday, bouncing back from losses in the previous session, on expectations that U.S. crude supplies fell last week. Light, sweet crude for January delivery settled up Continue Reading
Just about the only thing we know about where oil prices are headed over the next few years is that most of the forecasts will be wrong. The oil market Continue Reading
An oil pump jack can be seen in Cisco, Texas, August 23, 2015. Moody’s Investors Service on Tuesday slashed its 2016 oil price outlook on expectations of a prolonged supply Continue Reading
Natural gas prices dropped to the lowest level since 1999 as concerns about weak demand continued to weigh on the market. Futures for January delivery settled down 7.2 cents, or Continue Reading
The NYMEX January natural gas futures contract continued its downward slide Tuesday, dropping 6.8 cents to settle at $1.826/MMBtu as warm weather forecasts continue to put significant pressure on the Continue Reading
Oil markets are waiting for a much greater supply contraction before prices rebound, and the deeper downturn in prices will test the current pace of adjustment. With WTI dipping to Continue Reading
Oil pump jacks are seen next to a strawberry field in Oxnard, California February 24, 2015. Sellers of a new grade of Iraqi oil are competing fiercely to win market Continue Reading
The United Nations atomic agency on Tuesday agreed to close the file on Iran’s past nuclear activities, drawing a line under an investigation which concluded that Tehran appeared to have Continue Reading
Will There Be Oil Oversupply for the Next Two Years? A push in the region echoes its U.S. strategy from the 1980s At the heart of Korea’s Onsan Refinery lies Continue Reading
A wave of 15 suicide car bomb attacks by the Islamic State group (IS) against Iraqi security forces was repelled east of the flashpoint city of Ramadi Tuesday with limited Continue Reading
Pleading acute shortage of funds, the federal government monday said it would begin a gradual withdrawal of fuel subsidy next year. The Minister of State for Petroleum, Dr. Ibe Kachikwu, Continue Reading
Nigeria has withstood mounting pressure to devalue the naira since March, defending the currency against events ranging from the crash in oil prices to being booted out of one of Continue Reading
The opening of Mexico’s oil industry is warming up after a slow start. Mexico awarded all of its 25 onshore fields auctioned Tuesday, defying the six-year low in crude prices Continue Reading
After being forced to stand on the sidelines for eight decades due to state control of the oil industry, private Mexican oil and gas firms came roaring back Tuesday by Continue Reading
Getting paid has always been hard for government contractors in Mexico, but seldom has the problem been so bad, as low oil prices are battering government finances. Analysts and officials Continue Reading
U.S. prosecutors are preparing to unveil drug trafficking charges against the head of Venezuela’s National Guard, according to people familiar with the case, as the United States investigates the suspected Continue Reading
Under a tent decorated in the yellow, blue and red of Venezuela’s flag, members of the ruling socialist party mingled and drank at a sporting event recently with opposition critics, Continue Reading
China will temporarily stop adjusting domestic gasoline and diesel prices amid worries about pollution, a development that may crimp Chinese demand and further weigh on global markets. The National Development Continue Reading
China’s annual economic growth is likely to slow to 6.8 percent in 2016 from an expected 6.9 percent this year, the People’s Bank of China said in a working paper Continue Reading
The world’s biggest energy consumer may have a message for OPEC. China’s decision to suspend fuel price cuts as crude continues its decline is sending a signal to the Organization Continue Reading
In the dank shower room where the miners soak, the coal dust from their bodies staining the water chocolate, a lone worker sat smoking a cigarette, staring at the floor. Continue Reading
Canadian oil-sands producers like Suncor Energy Inc. like to tout the long life of the world’s third-largest crude reserves as their greatest asset. That longevity may now be their biggest Continue Reading
The average national price of unleaded regular gasoline is poised to fall below the $2 per gallon threshold, AAA reported Tuesday. At $2.013 per gallon, the average is the lowest Continue Reading
The companies said the Justice Department wouldn’t make a decision on Tuesday, as contemplated by a previous timing agreement between the two sides. The Justice Department doesn’t believe the companies Continue Reading
The publicly traded company entered chapter 11 in U.S. Bankruptcy Court in Wilmington, Del., with a restructuring deal that has garnered the support of roughly 75% of debtholders. The deal Continue Reading
NOAA flies over the Arctic to measure sea ice coverage. The extent of sea ice in September 2014 was the sixth lowest since satellite observations began in 1979. (NOAA) For Continue Reading
In a move considered unthinkable even a few months ago, congressional leaders have agreed to lift the nation’s 40-year-old ban on oil exports, a historic action that reflects political and Continue Reading
On the edge of the Nevada desert, Tesla, the electric carmaker, is building the world’s largest battery plant. The mile-long, so-called Gigafactory is expected to boost demand for lithium, the Continue Reading
Task Force on Shale Gas report says that a UK shale gas industry could create thousands of jobs but more exploratory work is required to determine exactly how much gas Continue Reading
Russia is planning for oil prices to drop to $30 per barrel in 2016. The country’s top finance official, Anton Siluanov, said the government must be prepared for prices to Continue Reading
Russia is battening down the hatches for a Biblical collapse in oil revenues, warning that crude prices could stay as low as $40 a barrel for another seven years. Maxim Continue Reading
Oil prices dipped on Tuesday, with Brent set to extend its losing streak to an eighth day, as investors remain concerned about a global glut and mild winter demand that Continue Reading
Oil prices erased early losses Monday after falling near their financial-crisis lows. Analysts say a small price bounce isn’t a surprise, as traders who have bet on lower prices are Continue Reading
Oil fell to a seven-year low on Monday and close to the levels hit during the financial crisis amid increased expectations of a persistent oversupply in global crude. The renewed Continue Reading
The collapse of fuel prices reached a new milestone this week: $35 crude oil. It’s a price that cements deeper turmoil in the U.S. oil industry next year, figuring into Continue Reading
Oil prices dipped on Tuesday, with Brent set to extend its losing streak to an eighth day, as investors remain concerned about a global glut and mild winter demand that Continue Reading
Even with a global glut in oil supplies set to last well into 2017, indications are emerging that a recovery in prices could get underway sooner rather than later. Oil Continue Reading
The once-deep discount for benchmark U.S. crude oil prices versus global rates is about to disappear for the first time since the rise of the shale oil boom, a sudden Continue Reading
Natural gas prices plunged to a 14-year low Monday, as an unusually warm winter saps demand and deals another blow to struggling energy companies. Recent high temperatures for this time Continue Reading
Balmy temperatures this past weekend across much of the U.S. sent a chill down energy producers’ spines Monday. The shape of the jet stream that produced the anomaly may continue Continue Reading
Oil Trades Near Seven-Year Low As oil crashes through $35 a barrel in New York, some producers are already living with the reality of much lower prices. A mix of Continue Reading
