There is a lot more oil in storage than the amount that can be accounted for by domestic production and imports. That’s a big problem since oil prices move up Continue Reading
Russian Energy Minister Alexander Novak attends the 15th International Energy Forum Ministerial (IEF15) in Algiers, Algeria September 27, 2016. Russia will consider a proposal from the OPEC oil producers’ group Continue Reading
Russia has significantly cut gas prices for Belarus, which will pay off its debts to Russia for previous gas supplies, the Belta news agency cited Belarussian Deputy Prime Minister Vladimir Continue Reading
Running out of time Oil and gas producers have worked diligently to reduce the cost of their operations following the fall in crude oil prices at the end of 2014. Continue Reading
Oil prices held onto their gains this week, adding a bit of momentum to the rally that started in late September following the OPEC deal. On Thursday, WTI broke through Continue Reading
Oil’s rally sputtered Friday, with prices dipping back below $50. U.S. oil for November delivery settled 63 cents lower, or 1.25%, to $49.81 a barrel on the New York Mercantile Continue Reading
U.S. oil futures held above $50 per barrel on Friday as the entire crude forward curve pushed above that level in a sign that financial markets have increasing confidence in Continue Reading
International aviation group announces agreement to help limit emissions from the sector, coming on the heels of breakthrough support for last year’s Paris climate arrangement. Photo by Stephen Shaver /UPI Continue Reading
* Iraq output jumps to 4.4 mil b/d on Kirkuk exports * Saudi production falls 110,000 b/d * Recovery in Nigeria and Libya adds to OPEC share OPEC crude output Continue Reading
The OPEC and Algeria flags are pictured ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. OPEC Continue Reading
