Russia credits more drilling for production increase
Russian oil company Rosneft said its overall hydrocarbon production for the second quarter of the year was on the rise thanks in part to a drilling boom. Production for the Continue Reading
Russia Delays $10 Billion Rosneft Privatization Due To Low Oil Prices
Russia may not be able to sell its stake in Rosneft in 2016 As low oil prices continue to put pressure on the Russian budget, the government in Moscow continues Continue Reading
Heinberg: Is the Oil Industry Dying?
The peak oil controversy stages a comeback as the industry confronts a future of higher costs — and low prices. A spindletop spouter gushes oil in 1902. (Image: Wikimedia Commons) Continue Reading
Oil Prices Fall as IEA Cuts Demand Forecast
Crude prices extended their falls Thursday as a top energy monitor trimmed its forecast for oil demand next year. The prediction comes as oil prices remain under pressure because of Continue Reading
Oil Trades Near One-Week Low After U.S. Crude Stockpiles Rise
Nationwide supplies gained 1.06 million barrels last week: EIA Record demand from refiners to erode bloated stockpiles: IEA Oil traded near the lowest closing price in a week as government Continue Reading
New Iranian Oil Contracts Unlikely To Attract Big Oil
Approved version of IPCs has more than 150 minor and major changes from the draft Following the end of international sanctions against Iran in July of 2015, the Islamic Republic Continue Reading
OPEC points to 2017 oil surplus as Saudi output hits record
The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, May 30, 2016. Top oil exporter Saudi Arabia boosted its oil Continue Reading
IEA sees oil markets slowly tightening after months of oversupply
A gas pump is seen hanging from the ceiling at a petrol station in Seoul June 27, 2011. Oil markets will begin to tighten in the second half of 2016 Continue Reading
IEA Sees Oil Demand Easing as Economic Outlook Dims
The IEA said Thursday it expects global oil demand to grow by 1.2 million barrels… The International Energy Agency on Thursday trimmed its forecast for the rise in global oil Continue Reading
Oil Market Report for August
Crude oil prices eased to around $45 bbl in August as a global supply overhang weighed and demand growth weakened. Brent crude had threatened to break below $40 bbl at the end Continue Reading