Russian Crude Losing Out as Iranian Oil Returns to Europe
The return of Iranian oil to the international market is hurting Russia’s main crude grade, forcing it to trade at the biggest discount in two years. The discount of Russia’s Continue Reading
BP Can Keep Reduced Spending Level for Another 3 Years, CEO Says
BP Plc can keep spending at a reduced rate of about $17 billion for another three years without affecting growth, Chief Executive Officer Bob Dudley said. The explorer has enough Continue Reading
Global oil majors look to shed refineries as crude prices rebound
Global oil majors Chevron Corp and Royal Dutch Shell Plc are putting small refineries on the auction block as they look to trim lower-margin assets in the face of headwinds Continue Reading
Crude oil rises for first time in seven days
Crude oil prices rose in early Asian trade on Friday for the first time in seven days as markets took a breather from concerns about the impact of Britain’s possible Continue Reading
Oil Prices Continue to Slide on Market Uncertainty
Oil prices slipped for a sixth straight session Thursday, dragged down by market jitters over the looming U.K referendum and mixed U.S. oil data. Crude prices have been on a Continue Reading
Oil Dips 6th Day as U.S. Drillers Seen Tapping Uncompleted Wells
Oil fell a sixth day, heading for the longest run of declines since February, as concern prices near $50 a barrel will trigger new U.S. production outweighed government data that Continue Reading
Oil hits three-week low on weak U.S. stock draw, Brexit fear
Oil prices hit their lowest in more than three weeks on Thursday, the sixth straight day of losses and longest bearish run since early 2016, as U.S. crude stocks fell Continue Reading
A Vote for Brexit Could Pose Threat to Oil-Price Recovery, Analysts Say
Oil prices, recently buoyed by improving market fundamentals, could suffer collateral damage if the U.K. votes to leave the European Union next week, investors and analysts say. Oil usually moves Continue Reading
Comparing The EIA And OPEC Production Numbers
Oil Rig The latest OPEC Monthly Oil Market Report is out, showing OPEC crude only production numbers for May, 2016. I have compared these numbers with those published by the Continue Reading
Oil Bosses See Volatility Easing With Crude Around $50 a Barrel
Russia’s Novak Says 2017 Oil Price May Average $50 P/B Price ‘more or less’ steady, may only average $55 in 2017: OMV Crude is stabilizing around $50 a barrel and Continue Reading