New UK Prime Minister Likely Good for the Oil, Gas Sector
The appointment of Theresa May as the United Kingdom’s new Prime Minister is likely to be a good development for the UK oil and gas industry, according to her voting Continue Reading
Crude Prices Down as IEA Report Points to Record Stockpiles
Crude oil prices fell Wednesday after surging nearly 5% overnight, as investors took profits and a bearish monthly International Energy Agency report pointed to record stockpiles. Brent crude, the global Continue Reading
Oil Retreats After Industry Data Show U.S. Stockpiles Expanding
Nationwide supplies rose 2.2 million barrels last week: API IEA sees record Middle East oil supply while U.S. output falls Oil fell after the biggest gain in three months as Continue Reading
Oil drops as investors lock in gains; surprise U.S. stockpile build
Crude futures fell on Wednesday as investors locked in gains after oil prices surged nearly 5 percent in the previous session, partly on forecasts from the U.S. government and OPEC Continue Reading
Oil Rises on Supply Forecast, Inventory Expectations
Oil prices rose Tuesday after forecasting agencies said production outside the Organization of the Petroleum Exporting Countries would fall this year more than previously expected. Traders also expect weekly U.S. Continue Reading
Oil bounces back from two-month lows on weaker dollar
Oil futures bounced back from two-month lows on Tuesday, helped by a weaker dollar, but a global stocks overhang and a drop in bullish bets by investors still weighed on Continue Reading
OMR Highlights (13 July 2016)
Global oil supplies rose by 0.6 mb/d in June to 96 mb/d after outages curbed OPEC and non-OPEC supplies in May. World production was 750 kb/d below last year as higher OPEC output Continue Reading
IEA Sees Record Middle East Oil Supply While U.S. Output Slumps
Middle East’s market share is the highest since the late 1970s Record inventories remain ‘threat to stability’ of prices Oil production from the Middle East has climbed to a record Continue Reading
EIA cuts 2016 U.S. oil demand growth forecast
The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according to a monthly outlook issued on Continue Reading
Huge stocks overhang threatens oil price recovery: IEA
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. Continue Reading