Oil Falls Amid Warnings of Retreat to $40 on Rocky Rebalance
BNP Paribas and JBC see risk of renewed crude price declines China oil refining rises to record in first six months of year Oil fell amid a growing number of Continue Reading
Oil bounces after big losses but glut persists
A worker looks at a pump jack at an oil field Buzovyazovskoye owned by Bashneft company north from Ufa, Bashkortostan, Russia, July 11, 2015. Oil prices rallied from sharp losses Continue Reading
Oil Is Facing The Perfect Storm
Since at least the end of 2014 there has been increasing uncertainty over oil prices, from whether so-called “Peak Oil” has already happened, to matters of EROI (or EROEI) values Continue Reading
The Glut Is Far From Over As Offshore Oil Storage Continues To Swell
Nine tankers carrying as much as nine million barrels of crude are floating in the North Sea as traders can’t afford to sell the crude they have—at least not profitably Continue Reading
Does This Estimate Suggest We Are Heading For $30 Oil?
Crude oil and refined products are once again begin stored on tankers floating at sea, a sign that the two-year oil glut is far from over. Short-term floating storage is Continue Reading
Oil deal and payment promises in Iraq’s IMF pledge
In its formal request for $5.3 billion in new loans from the International Monetary Fund (IMF), Iraq’s finance ministry has suggested a new version of an oil and revenue deal Continue Reading
This Big OPEC Member Might Be The Next Big Opportunity For Oilfield Services
There’s been a global trend toward privatization of natural resources the last several months. With lower commodities prices prompting governments like Saudi Arabia to raise cash through the sale of Continue Reading
Angola sees gloomier economic prospects on oil price slump
Angola is at a critical juncture as its government sees a bleak year ahead as the continued oil price slump has made it halve its 2016 growth forecast. The oil Continue Reading
Nigeria: Crude Oil Production Rises to 1.5mbpd
Country loses top Africa producer status to Angola After hitting two-yea low last month due to Niger Delta militant attacks on oil facilities, Nigeria’s crude oil production has managed to Continue Reading
Maduro’s Threats Fail to Stop Companies From Exiting Venezuela
Kimberly-Clark became latest company to pull out this month Goverment blames U.S.-led conspiracy and backs factory seizure The multinationals that remained in Venezuela through more than a decade of nationalizations, Continue Reading