Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market. Money managers trimmed bets on falling West Continue Reading
Oil prices slipped on Friday in thin Asian trade ahead of the Christmas and New Year holidays, eroding some of the gains in the previous session as traders took profits. Continue Reading
Oil prices remained mostly stable this week on light trading and few major price-altering headlines. However, some weakness in the rally emerged as fears over restored Libyan supply weighed on Continue Reading
WTI moved sideways near $53 from the Sunday open through Thursday afternoon, submitting a high of $53.79 and a low of $52.08 along the way. The narrow $1.79 range over Continue Reading
Oil explorers added rigs for the eighth straight week, extending a ramp-up of activity in the U.S. shale patch as prices hover near $53 a barrel. Rigs targeting crude in Continue Reading
U.S. energy companies added oil rigs for an eighth week in a row, extending a seven-month drilling recovery as crude prices remained near a 17-month high. Drillers added 13 oil Continue Reading
After boasting of gains in oil production this week, the chairman of a Libyan oil company discussed how Egyptian companies could work in the country. Mustafa Sanalla, the chairman of Continue Reading
Work to retrieve spent nuclear fuel in the No. 3 reactor building storage pool of the crippled Fukushima No. 1 nuclear power plant will again be postponed due to a Continue Reading
Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company, al-Eqtisadiah reported. A 49 percent stake will be sold within 10 years, Continue Reading
The number of rigs drilling for oil in the U.S. rose by 13 in the past week to 523, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
2017 Oilfield Service and Drilling Outlook from Bloomberg Intelligence Bloomberg Intelligence (BI) analysts Andrew Cosgrove and William Foiles presented a briefing on Wednesday on the outlook for U.S. oil services Continue Reading
Outgoing President Barack Obama is about to invoke a 1953 law in a bid to protect the Arctic and Atlantic shelf of the United States from the claws of the Continue Reading
A nearly $2 billion natural gas deal could signal a sign that companies are interested in gas drilling again after a long downturn. Gulfport Energy announced plans to issue new Continue Reading
Oil and gas producer Bonanza Creek Energy said it would file for bankruptcy on or before Jan. 5, joining a long list of energy companies that have succumbed to a Continue Reading
The next lease sale planned by the U.S. government for oil and gas reserves in the Gulf of Mexico will be streamed live on the Internet, an agency said. On Continue Reading
Members of a House energy panel said they wanted a federal investigation into whether or not the nation’s Strategic Petroleum Reserve should be maintained. The U.S. Strategic Petroleum Reserve was Continue Reading
The U.S. Department of Energy expects to begin sales of roughly 8 million barrels of sweet crude from the country’s emergency oil reserve in early to mid-January, according to a Continue Reading
Russia will cut crude oil output and will cooperate with OPEC to support global oil prices, President Vladimir Putin said at his end-of-year news conference on Friday. Putin said he Continue Reading
Russia’s president said his country would meet its obligations in terms of crude oil production, but stressed Friday that Russia is not a member of OPEC. Russia is on pace Continue Reading
Oil prices slipped on Friday in thin Asian trade ahead of the Christmas and New Year holidays, eroding some of the gains in the previous session as traders took profits. Continue Reading
Crude prices rose Thursday from the start of traditional trading hours in the U.S., where traders are still feeling bullish about recent changes in the oil market. Prices have been Continue Reading
Growth reported Thursday in the U.S. economy helped lift oil prices out of a hole after falling in response to reports of a build in crude oil stockpiles. Oil prices Continue Reading
Predicting where oil prices would go next month or next year has always been a game of hit and miss, all the more so in the past two years since Continue Reading
Oil prices are set to recover next year as OPEC fulfills its agreement to cut output, halting the slump that battered the global oil industry, Saudi Arabia’s energy minister said. Continue Reading
Saudi Arabia expects oil revenue to jump by 46 percent next year after a deal between the kingdom and other producers to curb output drove up global prices. The world’s Continue Reading
Saudi Arabia has presented the most detailed budget in its history, determined to show it is succeeding in bringing down the deficit and weaning itself off oil. Following months of Continue Reading
Iraq said most international oil companies working in the country, along with the nation’s semi-autonomous Kurds, have agreed to cut crude output to fulfill an OPEC accord. Iraq is fully Continue Reading
Oil prices may rise even more once investors see that OPEC and other major producers are fulfilling an agreement to cut production to curb the global glut, United Arab Emirates Continue Reading
Saudi Arabia said it was making progress on economic reforms aimed at correcting a deficit, with both oil and non-oil revenue increasing in 2017. In a document outlining its budget Continue Reading
European plane maker Airbus Group SE on Thursday said it had finalized a controversial deal to sell more than $18 billion worth of jetliners to Iran less than two weeks Continue Reading
Saudi Arabia will turn to solar for electricity, which could allow it to export a lot more oil. The connection between solar and oil is not an obvious one since Continue Reading
Emails published by Wikileaks reveal a proposal for Turkey to take equity stakes in Kurdistan’s biggest oil fields, in exchange for nearly $5 billion of immediate financial assistance. Turkey’s then-Prime Continue Reading
French energy company Total said it was building up its prospects in South America in a partnership that gives it access to some of Brazil’s biggest oil fields. In a Continue Reading
FOR decades, automakers have been able to count on a fundamental fact of American life: You pretty much need a car to get around. But lately, novel technologies, including ride-hailing Continue Reading
The non-governmental organization The International Crisis Group warns in a report that Venezuela could enter a dangerous period of great turmoil after the worsening economic catastrophe and the decision of Continue Reading
China has warned Donald Trump that “co-operation is the only correct choice” after the US president-elect tapped a China hawk to run a new White House trade policy office. The Continue Reading
China’s crackdown on exhaust-spewing factories that shut or slashed output this week at sites including steel mills, textile and cement factories and coal-fired power plants will ripple across major bulk Continue Reading
Texas, the No. 1 oil producer in the United States, reported crude oil production edged slightly lower than the previous month based on preliminary data. Strains continued for the nation’s Continue Reading
A proposal aimed at encouraging production of U.S.-made goods could push domestic oil prices higher and leave consumers paying more at the pump, some energy economists say. “Border adjustment,” as Continue Reading
Temperature difference from normal as analyzed by GFS model on Dec. 22. (University of Maine Climate Reanalyzer) (This story has been been updated.) Santa may need water skis instead of Continue Reading
The United States became a net exporter of natural gas in November 2016, a development driven by falling imports (due to high domestic natural gas production) and rapidly increasing natural Continue Reading
This estimate (now preferred by Dean Fantazzini) is 35 kb/d lower than the EIA estimate for Sept 2016 (which is the most recent EIA estimate). Texas C+C output has fallen Continue Reading
Oil prices are probably already high enough to spark a rebound in shale production. The IEA says that in the third quarter of 2016, the U.S. shale industry became cash Continue Reading
Offshore oil majors could shave nearly a third off their exploration and development costs by simply agreeing to industry-wide equipment standards, according to an industry association executive. Rather than having Continue Reading
By the sacred fire at the heart of the Oceti Sakowin camp, a woman swaddled in layers of clothing makes announcements over a small loudspeaker. “We have a missing woman,” Continue Reading
“The EROEI of Photo-Voltaics can be whatever you like these days” a friend of mine said once after attending a bio-physical economics conference. It epitomises a growing problem in this Continue Reading
As oil prices recover and U.S. shale production picks up, energy companies that had planned to ship crude on the Dakota Access Pipeline will turn to rail, a transport method Continue Reading
With its devastating show of force in Syria’s civil war, Russia has reasserted itself as a military power in the Middle East. It’s also put Russians in the region at Continue Reading
Russia has pledged to OPEC and other Non-OPEC countries to cut its oil output by 300,000 bpd in the first six months of 2017 in a joint effort to reduce Continue Reading
A Russian oil company said its division in Serbia has opened up a new reserve area with the goal of moving from drilling to development next year. Gazprom Neft said Continue Reading
