As oil producers agonize over tumbling crude prices, strong car sales in India and China are underpinning demand for gasoline, giving makers of refined products and petrochemicals healthy margins. While Continue Reading
The Skinny on How This Monster Economy Is Losing Steam – and the Worldwide Fallout The Year of the Red Monkey, also known as the Fire Monkey , starts next Continue Reading
Boom times in North Dakota’s oil fields hit the state’s higher-education sector hard, as young people opted for immediate employment over college enrollment. Now, the region’s colleges are seeing a Continue Reading
Falling oil prices have brought widespread layoffs in the oil fields of Texas, Louisiana, Oklahoma and Pennsylvania and questions about whether once-hot local economies are retrenching for good or just Continue Reading
Energy executive Harold Hamm says oil prices should double to $60 by the end of 2016—a contrary prediction for a market currently bracing for oil to fall to $20. He Continue Reading
Convinced that low oil prices are here to stay, domestic auto executives shrugged off concerns about a potential plateau in global automobile demand, issuing bullish forecasts for 2016 and pledging Continue Reading
Lower crude oil prices are starting to drain on tax revenues for some of the top producers in the country, a federal data review found. State reports on the direct Continue Reading
The Sierra Club hailed President Barack Obama for steering the nation toward a low-carbon future, though the energy industry warned of the administration’s heavy hand. “Looking back at the last Continue Reading
Credit rating agency Standard and Poor’s has slashed its oil and gas price forecasts and warned that it could downgrade firms across the two sectors in the next couple of Continue Reading
Mid-sized oil producing companies are proving more resilient against weak oil prices than expected as they are able to slash more costs, allowing them to press ahead with projects that Continue Reading
Oil and gas production was one of the fastest-growing industries in the United States between 2009 and 2014 according to the U.S. Bureau of Economic Analysis (BEA). Oil production increased Continue Reading
Exxon Mobil ( XOM.N ) will shut the smaller of two crude units at its 350,000 barrel-per-day Beaumont, Texas refinery in the second half of April for up to 90 Continue Reading
Think oil in the $20s is bad? In Canada they’d be happy to sell it for $10. Canadian oil sands producers are feeling pain as bitumen — the thick, sticky Continue Reading
The ink is barely dry on legislation to lift a 40-year-old ban on exporting U.S. crude and energy companies already are jockeying to ship American oil overseas. Two tankers filled Continue Reading
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil Continue Reading
Price swings in Russian equities have risen to the widest in four months as a selloff in oil dimmed the outlook for Europe’s biggest crude exporter, which already has been Continue Reading
Cheap crude prices and strong gasoline demand will continue to keep most refineries on both sides of the Atlantic in the black in 2016, analysts say, but weak diesel profit Continue Reading
1) The showdown on oil prices between Saudi Arabia and the US will intensify, and the Saudis will eventually break . It looks like oil and gas prices are going Continue Reading
Oil bounced back after tumbling below $30 a barrel for the first time in 12 years. A persistent oversupply means prices still haven’t staved off the threat of further declines. Continue Reading
Crude futures rose on Wednesday for the first time in eight days, with U.S. oil pulling further away from the widely watched $30-per-barrel level breached the previous session, as Chinese Continue Reading
Oil prices tumbled to within a whisker of $30 a barrel on Tuesday, extending a savage new year sell-off as BP axed thousands of jobs and Brazil’s Petrobras cut tens Continue Reading
U.S. oil prices will hold below $50 a barrel on average this year and next, government forecasters said Tuesday. Oil prices have tumbled from more than $100 a barrel in Continue Reading
Slumping oil prices are testing Venezuela and other large petroleum exporters. Petrodollars are rapidly turning into petropennies. As oil prices flirt with the $30-a-barrel level , a key question becomes Continue Reading
A stronger U.S. dollar is compounding an oil market rout that has seen crude prices fall by almost 20 percent this month, and options trades suggest the market is preparing Continue Reading
The United Arab Emirates moved to quash talk of a potential emergency meeting of the Organization of the Petroleum Exporting Countries (OPEC) after Nigeria’s oil minister said on Tuesday a Continue Reading
Militants launched a coordinated series of bombings and suicide attacks deep inside several government-controlled areas of Iraq on Monday, signaling what could be a renewed embrace of asymmetric tactics by Continue Reading
As it turns out, Syria was merely a springboard for a much larger ISIS plan—replenishing terrorist coffers by taking over oil assets in war-torn Libya. The terror group has largely Continue Reading
The Obama administration is facing a new fight with Congress over Iran sanctions just days before the nuclear agreement signed last year is due to go into effect. The House Continue Reading
An Iranian nuclear official on Tuesday denied a report that technicians had removed the core of the country’s only heavy-water reactor and poured concrete into the cavity, a final step Continue Reading
Bahrain and Oman on Tuesday reduced government subsidies on gasoline, becoming the latest Gulf Arab countries to try to cut back on spending and offset the effect of oil prices, Continue Reading
Managing Director, International Monetary Fund, IMF, Ms. Christine Lagarde, has warned that the prevailing uncertainty in the oil and gas industry could plunge the Nigerian financial system into crisis. In Continue Reading
Petrobras’s finances have come under intense strain since a multibillion-dollar bribery scandal emerged at the company in 2014. With about $104bn in net debt — the highest for any Continue Reading
The Chinese yuan’s 6 percent decline over the past five months is hardly anyone’s idea of a crisis. On average it comes out to a drop of less than 0.04 Continue Reading
With oil prices sinking to levels not seen in more than a decade, Mexican national oil company Petróleos Mexicanos said Tuesday that its production costs are among the lowest in Continue Reading
China is forecast to overtake the U.S. as the world’s biggest crude importer in 2016 and that’s largely thanks to a group of buyers who weren’t allowed to purchase foreign Continue Reading
The weakest commodity market in 25 years is proving to be a boon for China as it grapples with the slowest economic growth since 1990. The world’s biggest user of Continue Reading
China imported a record amount of crude last year as oil’s lowest annual average price in more than a decade spurred stockpiling and boosted demand from independent refiners. The world’s Continue Reading
Demand for shipments of liquefied natural gas from Asian economies that are the world’s biggest gas importers dropped in 2015, according to a report published Wednesday, including a first-ever decline Continue Reading
This edition of the Short-Term Energy Outlook is the first to include forecasts for 2017. North Sea Brent crude oil prices averaged $38/barrel (b) in December, a $6/b decrease from Continue Reading
The global oil glut will swell until late 2017, the U.S. government forecast on Tuesday in an outlook that offered little hope of near-term relief for energy producers reeling from Continue Reading
El Nino and the warm winter weather are being blamed for the weak demand for distillate fuel oil in the United States, but the slump in oil production is probably Continue Reading
The provincial government of British Columbia said it did not support efforts by pipeline company Kinder Morgan to expand a regional crude oil network. Kinder Morgan petitioned the federal Canadian Continue Reading
A Texas state energy regulator said about half as many original drilling permits were issued for December than for the same month in 2014. Crude oil prices, down about 70 Continue Reading
Halliburton equipment at an Alvarado, Texas, equipment yard in June 2015. The merger, which would unite the second and third largest oil-field services suppliers, already faces a growing list of Continue Reading
The ink is barely dry on legislation to lift a 40-year-old ban on exporting U.S. crude and energy companies already are jockeying to ship American oil overseas. Two tankers filled Continue Reading
As the national economy declines under pressure from sanctions and low oil prices, Russia’s president said there are no claims to a role as a superpower. Lower crude oil prices Continue Reading
BP has about 80,000 employees world-wide. BP BP -0.66 % PLC said Tuesday it would slash about 4,000 jobs from its exploration-and-production unit—about one-sixth of the staff in that business—over Continue Reading
Russia is slashing budget expenditure by 10 per cent as it scrambles to cope with lower revenues following the latest big drop in oil prices. Ministries and other government departments Continue Reading
Oil prices moved closer to $30 a barrel on Tuesday as a range of problems pummeled the commodity, including oversupply, China’s weaker economy and a mild start to winter in Continue Reading
Oil extended declines from the lowest close in more than 12 years before U.S. government data forecast to show crude supplies expanded, exacerbating a global glut. Futures fell as much Continue Reading
