Oil rout over, OPEC aims for $50 anchor, says PIRA’s Ross
Major OPEC producers are privately starting to talk about a new oil price equilibrium of $50 a barrel, adding to signs that the market’s long, deep rout is officially over, Continue Reading
Latin American oil producers to meet in Quito on Friday: Ecuador government
Latin American oil producers, including main exporters Venezuela, Colombia, Ecuador and Mexico, will meet in Quito on Friday to seek a common position on global oil prices, the Ecuadorean government Continue Reading
Oil prices expected to recover to around $70 by 2020: Kemp
Oil prices are expected to rise gradually over the next five years but will remain well below the pre-crash level, according to a survey of professionals who follow the oil Continue Reading
Oil jumps as sentiment boosted; analysts warn of glut
Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, January 25, 2016. Oil prices extended Continue Reading
International Rig Count Still Falling
The Baker Hughes International Rig Count does not include the US, Canada, any of the FSU countries or inland China. It does include offshore China. That rig count peaked in Continue Reading
Idle pipeline almost halves north Iraq February oil exports
Oil exports from northern Iraq nearly halved in February due to the ongoing outage of a pipeline to Turkey, wiping $350 million off the cash-strapped Kurdistan region’s revenues as it Continue Reading
Iraq’s Kurds See Oil Revenue Drop in Half After Pipeline Attack
Oil revenue from Iraq’s self-governing Kurdish region dropped more than half last month after a pipeline used to transport crude through Turkey was attacked, further hurting the cash-strapped enclave’s efforts Continue Reading
Kurdistan oil revenue collapses
The Kurdistan region’s oil revenue plummeted by more than half in February, aggravating a financial crisis that has already caused social instability, strikes, and waves of protests. The KRG received Continue Reading
Shell repays Iran 1.77 billion euros debt for oil deliveries
Royal Dutch Shell has paid 1.77 billion euros ($1.94 billion) it owed the National Iranian Oil Company, settling debts after sanctions against the country were lifted in January. The outstanding Continue Reading
Iranian oil headed to Europe
The Iranian Oil Ministry said Monday a tanker of crude oil was on its way to Europe for the first time since sanctions eased after July’s nuclear deal. SHANA, the Continue Reading