Oil Drops as Prospects Fade for OPEC Deal
Pipelines at the Zueitina oil terminal in Libya. OPEC members Nigeria, Libya and Venezuela want… Oil prices fell Tuesday as hopes for any deal between the Organization of the Petroleum Continue Reading
Oil prices fall as Venezuela says market is 10 percent over supplied
Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10 percent in order to bring production down to consumption levels, confirming analyst views Continue Reading
Oil Prices Rise on Libya Unrest
Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading
Shifting Strategies: Big Oil Looking At Low-Cost Fields
Oil workers Oil supermajors have come to realize that shrunk capex plans will make their exploration efforts profitable in lower-cost, lower-risk areas, and have changed drilling tactics to the ‘less Continue Reading
Venezuela says global oil supply exceeds demand by 10 percent
Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela’s Oil Minister Eulogio Del Pino said on Continue Reading
Venezuela Crises Compound as Oil Industry Falls Into Disarray
One oil rig was idle for weeks because a single piece of equipment was missing. Another was attacked by armed gangs who made off with all they could carry. Many Continue Reading
North Dakota shale on slow recovery
North Dakota shale activity slowly increasing, though some players are still waiting around for oil to hit $60 per barrel, state official said. Photo by David Gaylor/Shutterstock BISMARCK, N.D., Sept. Continue Reading
Easy resolution unlikely for contentious Dakota pipeline
A potential rerouting of a long-anticipated pipeline at the center of a protest in North Dakota would be a laborious and costly task, possibly delaying a startup by months and Continue Reading
Texas economy still under pressure
The number people in Texas who want to work full time but can’t find jobs in the oil-rich economy remains above recessionary levels, a report found. The Federal Reserve Bank Continue Reading
The United States is both a major importer and exporter of motor gasoline
The United States simultaneously imports and exports gasoline because of regional differences in gasoline supply and demand balances. The two regions with the largest supply and demand imbalances are the Continue Reading
Is U.S. Shale Nearing Collapse?
Oil Rig Crude oil production in the United States has decreased by more than 10 percent since the record high of 2015, from 9.6 million barrels per day (mmbpd) to Continue Reading
U.S. motorists wasted billions on premium gasoline last year: AAA
U.S. consumers wasted billions of dollars last year filling their cars with costly premium-grade gasoline for no tangible benefit, according to a study by the country’s leading motorist advocacy group. Continue Reading
Pipeline Break Lights a Fire Under Gasoline Prices Across Southeast
Supply is crimped… Gasoline prices have surged across the Southeast, as the partial closure of a major pipeline has left some gas stations scrambling for fuel and many drivers stuck Continue Reading
Frack Sand: The Unsung Hero Of The OPEC Oil War
Fracking operations The late-2014, Saudi-initiated oil-price war may have taken the ‘boom’ out of the US shale industry as it seriously threatened OPEC market share, but Saudi victory has been Continue Reading
Oil Investment Crash Could Continue For Another Year
Offshore Oil Rig Investment in upstream operations in the oil and gas industry shrank by a quarter last year and is expected to continue shrinking this year by another 24 Continue Reading
Oil Prices Rise on Libya Unrest
Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading
Oil up as Venezuela sees output deal, Libya suffers clashes
Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised Continue Reading
Oil Investors Flee as OPEC Freeze Hopes Face Supply Reality
Speculators cut bets on both lower and higher WTI prices: CFTC OPEC, other crude exporters to meet in Algiers on Sept. 27 Oil speculators headed for the sidelines as OPEC Continue Reading
Can OPEC Remain the Ultimate Energy Superpower?
The 2016 OPEC (Organization of the Petroleum Exporting Countries) meeting in Algiers later this month has received undue importance from market analysts hoping that Kingdom of Saudi Arabia and non-OPEC Continue Reading
Iran supports any move to stabilize oil market: Rouhani
Iranian flags are seen at a petrol station in Tehran, Iran, January 25, 2016. Iran’s President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and Continue Reading
Big Oil Was Never That Big a Money-Maker, Goldman Sachs Says
Oil companies longing for the glory days of ultra-high crude prices might wish to think again. The rising oil prices that came to characterize energy markets in the mid-2000s, and Continue Reading
THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Big Trouble For The U.S.
The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance. Just a few years ago, the U.S. Energy Industry and Mainstream media were Continue Reading
Russia’s ruling party tightens its grip on lower house
Russia’s ruling party has tightened its grip on the Duma after parliamentary elections on Sunday were marred by irregularities and the lowest turnout in president Vladimir Putin’s 17 years in Continue Reading
Oil Prices Drop as Attention Turns Toward Glut in Stocks
Oil prices fell Friday as markets focused on the glut in oil stocks after the shutdown of the Colonial Pipeline, which transports 1.2 million barrels of gasoline a day in Continue Reading
Oil prices drop as growing supplies stoke glut concerns
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. Oil prices fell more than 1 percent on Continue Reading
Oil Down As Glut Fears Return
Oil prices fell on Friday as the IEA downgraded its projections for oil demand, dashing hopes that oil markets would rebalance this year. Oil prices posted another down week after Continue Reading
Why OPEC Will Put The Brakes On At $60 Oil
OPEC says a price near $60 will avoid added shale production Recently renewed talks of a production freeze among OPEC and some non-OPEC producers including Russia have helped to bolster Continue Reading
Coalition Air Strikes Wipe Out More ISIS Oil Assets In Syria
Air Strike Coalition military forces have carried out 10 air strikes against ISIS targets in Syria, destroying five supply routes, oil well heads and oil tanker trucks, the Combined Joint Continue Reading
Oil Tanker Due to Load Crude at Key Libyan Port Has Small Delay – Bloomberg
An oil tanker that’s supposed to collect crude from a key Libyan export terminal for the first time in almost two years is encountering a slight delay, an official said. Continue Reading
S&P Downgrades Nigeria Further Into Junk as Oil Woes Worsen
Rating lowered from B+ to B, outlook now stable from negative GDP seen contracting 1 percent in 2016, grow 2 percent in 2017 S&P Global Ratings downgraded Nigeria further into Continue Reading
PDVSA Offers Citgo Backing to Sweeten $7 Billion Bond Swap
Company wants to exchange bonds due in 2017 for 2020 debt PDVSA to offer new bonds at 1:1 ratio to old until Sept. 29 Venezuela’s state-owned oil company says it Continue Reading
N.Y. Probes Exxon’s Valuation of Oil Reserves
A.G. investigating whether Exxon hid risks of climate change Schneiderman focuses on period during global price collapse New York Attorney General Eric Schneiderman’s probe into Exxon Mobil Corp. includes scrutiny Continue Reading
Elon Musk Wanted a Race. Now He Has One
Two hundred thirty-eight. Not so long ago that number would have been unthinkable. When Tesla Motors Inc. rolled out its first electric car, the 2008 Roadster, it boasted what was Continue Reading
Pipeline shutdown in Alabama could send gas prices higher
Motorists in parts of the country could pay a little more for gasoline in coming days because of the shutdown of a leaking pipeline in Alabama. Experts say that any Continue Reading
Three new oil sands projects approved in Alberta
Three new oil developments in the Fort McMurray area could add up to 95,000 barrels of oil per day to current output, Alberta’s government said. The provincial government approved three Continue Reading
North Dakota Crude Oil Production Stabilizes in July
North Dakota oil production rose slightly in July, stabilizing after a drop in the previous month to more than two-year lows, according to the latest data from the state’s Department Continue Reading
Bakken July Production Data
North Dakota has just come out with their oil production numbers for July 2016. Bakken production was up by 3,046 barrels per day while all North Dakota production was up Continue Reading
Exxon probe faces uphill climb amid ambiguous accounting rules
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, New York, U.S. December 30, 2015. New Continue Reading
No-Name Gasoline No Longer a Bargain After Supply Dries Up
Unbranded prices soar over name brands in southeastern U.S. Safety agency corrective order issued on major gas pipeline Loyalty to your local mom-and-pop gas station may come at a price. Continue Reading
When Should a Company Write Down Assets
New York Attorney General Eric Schneiderman is investigating why Exxon Mobil Corp. hasn’t written down… New York Attorney General Eric Schneiderman is investigating why the oil giant hasn’t written down Continue Reading
Against All Odds, North Sea Proves Resilient to Oil-Price Slump
Output in U.K. North Sea will rise through 2018: WoodMac Region joins Russia, Norway in bringing down costs to survive Oil producers in the North Sea were supposed to be Continue Reading
Statoil completes sale of Marcellus acreage
Norwegian energy company Statoil said it retained some of its shale acreage in the United States, but completed a sale Friday of assets in West Virginia. Statoil said it closed Continue Reading
Russia bases economic forecast on $40 oil
The Central Bank of Russia lowers rates and forecast for economic growth in 2017, basing its forecast on oil priced at $40 per barrel. Photo by DyMax/Shutterstock MOSCOW, Sept. 16 Continue Reading
Oil Set for Weekly Drop as Resilient Supply Seen Sustaining Glut
Libya, Nigeria plan higher output; IEA sees glut persisting All 14 OPEC members are said to be attending Algiers meeting Oil headed for a weekly loss on speculation a global Continue Reading
Oil prices drop as growing supplies stoke glut concerns
A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. Oil prices fell more than 1 percent on Continue Reading
Crude Rises In Spite Of Poor Economic Data
Crude has just given up the ghost of a rally, as poor economic data weighs on broader market sentiment again. As the dollar rallies, despite waning rate hike hopes, crude Continue Reading
Oil Prices Rise with Gasoline, Diesel
Gasoline made some of its biggest daily gains of the summer as pipeline and refinery outages had traders surging into fuels, eventually pulling crude prices up, too. Light, sweet crude Continue Reading
Oil rises on draw in U.S. crude stocks, but supply worries remain
Oil prices rebounded in early Asian trade on Thursday after falling around 3 percent in the previous session, supported by an unexpected fall in U.S. crude inventories. U.S. crude inventories Continue Reading
Natural Gas Erases Losses After Stockpile Data
Natural gas prices rose to a 2 1/2-month high Thursday, flipping up from losses after data showed a below-average storage addition last week. The U.S. Energy Information Administration said natural-gas Continue Reading
Offshore Drillers Brace for More Pain Even With Bottom in Sight
Transocean, Seadrill see utilization rates stabilizing in 2017 As many as 60 more floating rigs need to be scrapped Offshore oil-rig operators, grappling with the biggest industry downturn in a Continue Reading