Shrinking EU Market Share Forces Gazprom To Action
For all the talk that Brexit would spell the end to the EU drive for energy market liberalization, the European Commission seems to have no intention to halt its ambition Continue Reading
Is Oil Going Back Under $40?
In recent weeks the oil market has seen negative sentiment drive prices lower based on expectations of heightened output (some of which have been realized) from recent problem areas including Continue Reading
Oil Settles Near $46 Amid Nigeria Force Majeure, US Fuel Glut
Oil closed near $46 a barrel in New York as the market weighed a force majeure declared by Exxon Mobil Corp. on crude shipments out of Nigeria against excess U.S. Continue Reading
Oil Prices Tick Higher on Demand Expectations
Oil prices rose Friday as better-than-expected Chinese economic data boosted expectations for oil demand from that nation, the world’s No. 2 oil consumer. But U.S. drilling data showed an uptick Continue Reading
Oil bounces after big losses but glut persists
Oil prices rallied from sharp losses on Thursday but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment. Brent crude oil Continue Reading
Brimming Gasoline Stockpiles Cap Oil Prices
We begin by taking a quick look at some of the critical figures and data in the energy markets this week, which show that renewed concerns about the supply glut Continue Reading
Thousands of Sadr supporters defy army
Thousands of supporters of Muqtada al-Sadr, the powerful Iraqi cleric, defied army warnings to demonstrate against the government, highlighting simmering political unrest in Iraq. Protesters packed in to Baghdad’s Tahrir Continue Reading
Petrobras Gets Permission To Halt Production At 16 Oil Platforms
The Brazilian government gave permission to Petrobras to suspend production at sixteen oil platforms as the troubled state-owned firm attempts to reduce costs. As reported in The Rio Times on Continue Reading
Schlumberger in $300 million deal offshore Australia
More than $300 million in contracts for the upstream side of the energy sector goes toward developing offshore Australia, a division of Schlumberger said. Schlumberger subsidiary OneSubsea secured an engineering Continue Reading
China’s Oil Output Tanks , Hits 4 Year Low
China Imports China’s crude oil output over the first half of the year stood at 101.59 million metric tons, down 4.6 percent and the lowest six-month figure since 2012, Bloomberg Continue Reading