Is Russia Winning The Oil Export War Against The Saudis?
Putin Sechin Russia is on track to set a new record in crude oil exports this year, and Iran is boosting exports to Europe, intensifying competition on the continent, which Continue Reading
Demand Destruction and Peak Oil
We are fully under the influence of petroleum demand destruction. The global oil market can’t function without real oil production price discovery, which doesn’t exist in the currently deflationary global Continue Reading
Brent Crude Declines With Global Equities Amid Adequate Supply
Nigeria output rose, U.S. East Coast gasoline stocks climb Three attacks hit Saudi cities of Qatif, Jeddah, Medina Brent crude dropped below $50 a barrel, sinking in tandem with equity Continue Reading
Oil falls below $50 on economic concerns
Oil fell below $50 a barrel on Tuesday as concern about a potential slowdown in economic growth that would weigh on demand trumped supply outages in Nigeria and other exporting Continue Reading
Brent Oil Trades Near $50 as Nigeria Militants Carry Out Attacks
Niger Delta Avengers claim five attacks in blow to cease-fire U.S. drillers bring back rigs as oil market seen stabilizing Brent crude traded near $50 a barrel as Nigerian militants Continue Reading
World’s Top Oil Trader Says Prices Won’t Rise Much Further
Vitol CEO Ian Taylor says crude to end 2016 near $50 a barrel Sees weaker demand growth in China and the rest of Asia Oil prices won’t rise much further Continue Reading
OPEC Crude Production Rises in June Led by Gains in Nigeria
Nigerian output increased to 1.53 million barrels a day OPEC pumped an extra 240,000 barrels a day last month OPEC’s crude production increased in June as Nigeria raised output following Continue Reading
Libya Oil Deal Doesn’t Mean It’s Ready to Pump More Oil
The end of a split in Libya’s National Oil Corp. marks a small step toward healing the divided country, but the political stalemate that shut down of most of its Continue Reading
Suicide Bombings Hit 3 Cities in Saudi Arabia, One Near a Holy Site
Bombings rocked three cities across Saudi Arabia on Monday, including near the Prophet’s Mosque in the holy city of Medina, raising the specter of increasingly coordinated attacks by militants seeking Continue Reading
Nigerian Government Overhauls State Oil Company’s Leadership
Petroleum minister Emmanuel Kachikwu becomes chairman of NNPC Kachikwu replaced as NNPC managing director by Maikanti Buri Nigeria’s government made wide-ranging changes to the leadership of its state oil company Continue Reading