A fresh wave of seasonal oil demand is expected to be unleashed when the global refining capacity increases to 101.8 million barrels per day (mb/d) in August, compared to 97.25 Continue Reading
Iranian Oil Minister Bijan Zanganeh leaves an OPEC meeting in Vienna on June 2. Iran replaced the head of its state-oil company on Sunday amid tension within the government over Continue Reading
Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman chairs a meeting for the Council of Economic and Development Affairs, in Jeddah, Saudi Arabia June 5, 2016. Saudi Press Agency/Handout via Continue Reading
The mere mention of OPEC is almost instinctively accompanied by an automatic reference to the Kingdom of Saudi Arabia, as if the two are practically synonymous. As an oil producer, Continue Reading
Nigerian militants whose attacks on oil infrastructure have sent output plunging to its lowest level in 27 years said for the first time that they are considering peace talks, even Continue Reading
Venezuela registered its biggest monthly oil-production decline in a decade in May, according to data released Monday by the Organization of the Petroleum Exporting Countries, signaling further trouble for a Continue Reading
U.S. shale oil output is expected to fall in July for the seventh consecutive month, according to a U.S. government forecast on Monday, despite a recent rally in crude prices Continue Reading
Statoil ASA may seek to partner with Petroleos Mexicanos in Mexico’s deepwater fields as the producer looks to gain a foothold in the country’s recently opened energy market. “We see Continue Reading
Oil traders at the U.S. storage hub of Cushing, Oklahoma are betting stocks will fall by the most since early autumn, due to the twin effect of declining Canadian supplies Continue Reading
Penn West Petroleum Ltd. shares surged the most in more than two decades after Teine Energy Ltd. agreed to buy oil-producing properties for C$975 million ($762 million) in cash. Penn Continue Reading
