Crude Rally Unwinds Completely – Expect $40 Oil
Oil prices plunged on Wednesday as the EIA shocked traders once again, raising the possibility that the oil markets are not as close to “balance” as once thought. The EIA Continue Reading
Oil nears a fresh bear market: 5 things to watch
Crude oil’s quiet slide from its 2016 high sharpens questions about the outlook for the commodity S ince oil prices hit a year-high above $52 a barrel in June they Continue Reading
Oil Industry About To Be Burned Again By Fall In Oil Prices
The current oil-price rally is over. U.S. rig counts have surged as oil prices sink. Capital is driving the oil markets and it enables bad behavior by producers. That is Continue Reading
Why haven’t oil prices fallen further as hedge funds boost short positions? Kemp
Used oil barrels are seen outside a garage in Cuevas del Becerro, near Malaga, southern Spain February 16, 2015. Hedge funds and other money managers have begun to amass another Continue Reading
Trucker strike risks output at Kurdistan’s Shaikan field
A strike by unpaid tanker truck drivers temporarily disrupted deliveries on Wednesday from Kurdistan’s Shaikan field, which normally produces 40,000 barrels per day (bpd) as part of the region’s core Continue Reading
Iraq Seeks Exxon, Petrochina Help to Develop Two Oil Fields
Country hopes to boost output from fields: deputy oil minister Iraq sees oil output at 4.8 million barrels a day to end-2016 Iraq is negotiating with Exxon Mobil Corp. and Continue Reading
Why Saudi Arabia Continues To Pump Crude At Record Levels
Hawtah field As the Financial Times reported on 12 July , Saudi Arabia’s oil-output reached record highs in June 2016. Increasing production 280,000 barrels/day to 10.6m b/d, Saudi Arabia has Continue Reading
Nigeria Loses 700,000 bpd Crude Output To Militant Attacks
Pipelines Niger Delta Recent military attacks on oil infrastructure in Nigeria have dragged the country’s daily crude production down by 700,000 barrels per day (bpd), figures by the Nigerian National Continue Reading
Exxon Said in Advanced Talks With Eni Over Mozambique Gas Stake
CEO met Mozambican President Nyusi last week to discuss deal Exxon also in parallel talks with Anadarko over stakes Exxon Mobil Corp. is in advanced negotiations with Eni SpA over Continue Reading
Drop in the ocean: India’s strategic oil reserves unlikely to stir market
India’s initial plan to build-up its strategic petroleum reserves (SPR) is not shaping out to be the dramatic event that some in the market had hoped could help reignite global Continue Reading