Oil in New York is falling after forming a so-called double top pattern on technical charts, a bearish signal for prices, according to Angus Nicholson, an analyst at IG Ltd. Continue Reading
As the market tries to weigh up supply losses, the return of said supply losses, and weekly inventory changes, prices have been bopping betwixt gains and losses thus far today. Continue Reading
U.S. oil prices jumped to a new 2016 high Wednesday as weekly inventory data showed a surprise drop in domestic crude stockpiles. Light, sweet crude for June delivery settled up Continue Reading
Crude prices firmed on the back of unscheduled supply outages in Nigeria, Ghana and Canada that exceeded 1.5 m/d by early May. This more than offset bearish sentiment in the wake Continue Reading
A unit of South Pars Gas field in Asalouyeh Seaport, Iran. The Islamic Republic lifted… Iran’s oil production has risen faster than expected, reaching levels not seen since before Western Continue Reading
The price of Brent crude oil should rebound in the next year to about $76 a barrel as consumption continues to increase in coming years, a key US energy agency Continue Reading
I spent a lot of time in 2015 warning that at year-end we would see a huge decline in crude oil reserves. As I have explained in the past, the Continue Reading
OPEC oil production rose by 140,000 barrels per day in April to 32.52 million barrels per day, according Wednesday’s S&P Global Platts survey. Iran and Iraq each boost output by Continue Reading
OPEC member Kuwait does not expect any coordinated action to be decided during the group’s upcoming meeting in Vienna on June 2, the country’s acting oil minister said on Thursday. Continue Reading
Kuwait Oil Refinery A senior Kuwait Petroleum Corp official has confirmed to media the company’s plans to increase production by 44 percent to almost 4 million barrels a day in Continue Reading
