Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts. Seven of the world’s largest energy companies Continue Reading
Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more Continue Reading
Benchmark North Sea Brent crude oil spot prices averaged $53/barrel (b) in December, a $9/b increase from November. This was the first month since July 2015 in which Brent spot Continue Reading
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good Continue Reading
The Kurdish north of Iraq continued to show its oil potential after a driller said operations were paving the way for additional exports. Oryx Petroleum Corp., a Canadian company focused Continue Reading
Iraq plans to raise crude exports from its southern port of Basra to an all-time high in February, keeping exports high even as OPEC production cuts take effect this month. Continue Reading
Iraq has reduced its oil production by 160,000 barrels a day as it starts to make the cuts it agreed to in a deal with other OPEC members last year. Continue Reading
Libya’s crude-oil production has more than tripled in the past six months, imposing an obstacle to the Organization of the Petroleum Exporting Countries’ plans to raise petroleum prices by collectively Continue Reading
When Saudi Arabia initiated the latest OPEC discussion about an oil production cut, Iran insisted that it would only consider joining market rebalancing efforts when it reached a daily output Continue Reading
OPEC made an early New Year’s resolution when it promised the world that it will get thin – or more accurately that it will thin its output in an effort Continue Reading
