Oil prices fall on latest rise in U.S. drilling
Oil prices fell early on Monday, pulled down by a rising rig count in the United States, record OPEC-output, and slowing global economic growth which could erode fuel demand. U.S. Continue Reading
OPEC Can Only Push Oil Prices So High
Oil Barrels With oil prices back up above $50 per barrel, more and more shale companies could find it profitable to resume drilling. But the improved prospects for shale companies, Continue Reading
Near Term Oil Prices Can’t Go Much Higher
Looking back at the last couple of weeks’ price action in WTI one thing stands out. OPEC or no OPEC, the benchmark U.S. oil futures contract attracts plenty of sellers Continue Reading
Oil Speculators Most Bullish Since ’14 After Wild Two Months
Bets on falling WTI crude price drop 53% in three weeks: CFTC OPEC reached preliminary accord Sept. 28, next meeting Nov. 30 Oil investors must be getting dizzy. In the Continue Reading
What OPEC’s Oil U-Turn Missed: Peak Demand Keeps Getting Closer
World Energy Council says consumption may stop growing by 2030 Renewable energy, electric vehicles will disrupt industry OPEC’s decision last month to reverse its policy of unfettered production and cut Continue Reading
Oil majors experiment with technology to weather crisis
Oil majors including Statoil, Shell and Chevron are experimenting with various technologies, from drones and drill design to data management, to drive down costs and weather a deep downturn. Crude Continue Reading
Iran oil minister: hopes for OPEC deal in November
Iranian oil minister Bijan Zanganeh said on Monday that he hoped OPEC would reach a deal to restrain oil production in November. Asked by reporters on the sidelines of an Continue Reading
Iraq announces start of offensive to retake Mosul
Military vehicles for the Iraqi security forces gather on the east of Mosul during preparations to attack Mosul, Iraq, October 15, 2016. Iraq’s Prime Minister Haider al-Abadi on Monday announced Continue Reading
Iran calls OPEC’s decision to limit output ‘baby step in right direction’
Iran’s deputy oil minister said on Monday that the OPEC’s primary agreement in Algeria to limit oil output at 32.5 million barrels per day was a small step but in Continue Reading
Iran oil minister: hopes soon to reach Qatar’s gas production
Iran hopes by early next year to boost its natural gas production to Qatar’s level, Iranian oil minister Bijan Zanganeh told an energy conference on Monday. He said Iran’s priority Continue Reading