OPEC’s Barkindo said to visit Iraq amid supply deal push U.S. stockpiles probably rose by 1.25 million barrels: survey Oil climbed with OPEC’s secretary-general set to visit Baghdad on Tuesday Continue Reading
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Oil prices dipped early on Tuesday over disagreement within producer cartel OPEC on who should cut how Continue Reading
Oil prices dipped on Monday, with U.S. crude briefly falling below $50 per barrel, on news of the impending restart of Britain’s Buzzard oilfield and Iraq’s wish to be exempted Continue Reading
Offshore oil rig Another week kicks off with oil under the influence of OPEC and producer rhetoric. As prices fell below the psychological support at $50/bbl, hark, here are five Continue Reading
OPEC cuts shouldn’t be at Iraq’s expense: Minister Al-Luaibi Manufacturing, services PMI in euro zone beat expectations Oil traded near $50 as better-than-expected economic data in Europe countered Iraq’s demand Continue Reading
Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and Continue Reading
Oil consumption will stand at 87 million barrels per day by 2035, or 7 percent less than the current figures in the baseline scenario, according to the study conducted by Continue Reading
Global oil demand will rise by 1.2 million barrels per day (bpd) in 2017, steady from 2016 global demand growth levels, despite gains in Chinese consumption, the chief of the Continue Reading
About 500,000 solar panels were installed every day last year as a record-shattering surge in green electricity saw renewables overtake coal as the world’s largest source of power capacity. Two Continue Reading
Gearing up for a tough confrontation with OPEC next month, Iraq says it won’t cut oil production and if OPEC wants to impose production limits, it will only agree to Continue Reading
African commodity exporters risk a “disorderly” hit to their economies if they don’t adapt to the reality of low prices, said a senior official at the International Monetary Fund. Some Continue Reading
The Iraqi oil ministry will negotiate directly with international oil companies (IOCs) and consortiums in the upcoming bidding of a dozen small- to medium-sized fields located in the provinces of Continue Reading
The Energy Committee of the Egyptian Parliament plans to contact its Ministry of Petroleum to get to the bottom of why the petroleum shipment from Aramco was suspended earlier this Continue Reading
China oil Angola overtook Russia as China’s biggest oil supplier last month, exporting 1.02 million barrels per day to the Asian country, up by 45.8 percent on the year, Reuters Continue Reading
The Kenyan government has been urged to consider a pipeline for oil exports to reap maximum benefit from the proposed early production. According to oil and gas experts, the basic Continue Reading
Venezuelan state oil company PdVSA obtained the minimum required participation in its bond swap after… CARACAS, Venezuela—State oil producer Petróleos de Venezuela SA said Monday it has concluded a deal Continue Reading
Oil Pipeline Fears of a possible default by Venezuela’s cash-strapped oil company PDVSA have mounted in recent weeks, but can now rest easy, after Venezuela managed to get credit holders Continue Reading
The final judgment may rest with God. But there is a lot of manoeuvring in Tehran to influence the decision on who will be Iran’s next supreme leader. There is Continue Reading
Venezuela’s socialist government and opposition will hold surprise talks on Sunday amid a worsening political standoff and protests since the suspension of a referendum drive to remove unpopular President Nicolas Continue Reading
PDVSA Venezuela just dodged a bullet, pulling off a last minute bond swap with creditors. The deal only buys Venezuela a little bit of breathing room, and a default at Continue Reading
Essar tank truck Monsoon torrents and regional civil disturbances did not affect India’s hunger for fuels last month, with local refineries processing 4.82 million barrels per day, up 9.27 percent Continue Reading
The land of liberal politics, electric cars and strict pollution controls might seem like an odd place to drop $1 billion into a 115-year-old oil refinery. Chevron Corp sees an Continue Reading
Native American protesters on Monday occupied privately owned land in North Dakota in the path of the proposed Dakota Access Pipeline, claiming they were the land’s rightful owners under an Continue Reading
A leak late on Sunday prompted Enterprise Products Partners to shut its Seaway Crude Pipeline system, the largest conduit for moving oil from the major storage hub in Cushing, Oklahoma Continue Reading
Local media in Oklahoma reported Monday a company was working to contain a release of crude oil from near the main U.S. oil storage hub in Cushing. News9, a CBS-affiliated Continue Reading
Source: U.S. Energy Information Administration, based on U.S. Commodity Futures Trading Commission and Bloomberg Short positions in West Texas Intermediate (WTI) crude oil futures contracts held by producers or merchants Continue Reading
US oil and gas drillers are reporting the biggest and most sustained upturn since oil prices began slumping in the middle of 2014. (John Kemp is a Reuters’ market analyst. Continue Reading
We are now approaching a time of year, where people across many parts of the world are preparing for the winter season. Oil consumers and providers will be watching weather Continue Reading
Seeking energy from Earth’s depths Drilling into hot rocks to tap geothermal energy is one thing. Drilling deep enough to tap the energy from magma oozing into volcanoes is quite Continue Reading
A short-term cap in oil output would reduce market volatility, Russian Energy Minister Alexander Novak said on Monday at a meeting with OPEC Secretary-General Mohammed Barkindo, as both are looking Continue Reading
Greenhouse gas emissions rose to a symbolic high last year and are at levels more than 40 percent higher than before the Industrial Revolution, a report said. The World Meteorological Continue Reading
Virtual reality oil Humans have a hard time with numbers. The truth is that our brains are much better at processing images and colors than they are at processing numbers. Continue Reading
il traded near $50 as better-than-expected economic data in Europe countered Iraq’s demand that OPEC should exempt it from planned output cuts. Prices rose as much as 0.3 percent in Continue Reading
Oil prices fell early on Monday as Iraq said it wanted to be exempt from any deal by producer cartel OPEC to cut production to prop up the market, and Continue Reading
Shale drillers It has been a rough 2 years for forecasters of crude oil prices. Essentially no one saw the 2014 crash coming, and everyone looked on in surprise as Continue Reading
This week’s oil prices put the industry at a value of $1.7 trillion – almost three times larger than the $660 billion in revenues generated from all major raw metals Continue Reading
A depiction of the global sources of CO2 which are dominated by the US, China and Europe Levels of CO2 in the atmosphere have surged past an important threshold and Continue Reading
Libya’s oil production is 580,000 to 600,000 barrels per day (bpd) and officials are negotiating with western municipalities to return another 380,000 bpd output from those areas, Prime Minister Fayez Continue Reading
Saudi Arabia’s Energy Minister Khalid al-Falih said on Sunday he had invited his Russian counterpart Alexander Novak to meet Gulf Arab energy ministers in Riyadh as part of efforts to Continue Reading
Iraq’s Oil Minister Jabar Ali al-Luaibi said on Sunday his country should be exempted from output restrictions as it was fighting a war with Islamic State. “We are fighting a Continue Reading
The king of Saudi Arabia, the world’s largest oil exporter, met Venezuela’s president on Sunday in Riyadh and discussed ways to stabilize global oil prices, state news SPA reported. King Continue Reading
Iran hopes non-OPEC Russia and OPEC heavyweight Saudi Arabia can agree to coordinate on possible actions on the global oil market, Iranian Oil Minister Bijan Zanganeh said on Sunday. “I Continue Reading
Country says it pumped 4.7 million barrels a day in September OPEC cuts shouldn’t be at Iraq’s expense: Minister Al-Luaibi OPEC’s second-largest producer threw an obstacle in the group’s path Continue Reading
A dispute between Iraq and Turkey has emerged as a dramatic geopolitical sideshow to the complicated military campaign to retake Mosul, Iraq’s second-largest city, from the Islamic State. President Recep Continue Reading
Oil Ministry pursues negotiations with IOCs on new oil projects – a warning shot at OPEC members seeking to impose quotas. An Iraqi worker adjusts a control valve at the Continue Reading
After posting double-digit growth in August, India’s oil products demand in September declined as widespead rains and regional unrest took toll on transport, but analysts expect a rebound in October Continue Reading
In the Tengger Desert, China — This desert, called the Tengger, lies on the southern edge of the massive Gobi Desert, not far from major cities like Beijing. The Tengger Continue Reading
The top shale basins in the U.S. could lose another 30,000 barrels per day in November, as a shortage of drilling fails to offset natural depletion. However, the decline is Continue Reading
A.G. investigating whether Exxon hid risks of climate change Schneiderman focuses on period during global price collapse Exxon Mobil Corp. is headed to a courtroom in New York for the Continue Reading
Their owners may be bankrupt, but the sprawling mines of Wyoming’s Powder River Basin are still churning out coal. It is the same story in oil fields along the Gulf Continue Reading
