A gasoline glut brought on by drivers buying less at filling stations is emerging as one of the biggest threats to the yearlong oil-price rally. U.S. gasoline consumption plummeted last Continue Reading
The two great dueling forces in the world oil market, OPEC and American production, have created an atmosphere of uncertainty, as prices hover above $50. Last week the EIA reported Continue Reading
The report of an independent review of UK tidal lagoon energy was published on 12 January 2017 by a former UK energy Minister Charles Hendry. The report praises the proposed Continue Reading
The decline of Britain’s biggest gas storage site and the lack of new-build to replace it will increase dependency on imports over the next few years, boosting wholesale market volatility Continue Reading
Oil prices held steady on Thursday, supported by ongoing supply cuts led by producer group OPEC, although rising fuel inventories and crude production in the United States weighed on sentiment. Continue Reading
More signs of recovery in U.S. shale oil basins and indications of a build in inventories sent crude oil prices lower early Wednesday. Crude oil prices rallied Tuesday to offset Continue Reading
Oil closed near $53 a barrel as record U.S. inventories tempered the impact of OPEC’s production cuts. American crude supplies climbed 9.53 million barrels to 518.1 million, the highest level Continue Reading
Kuwait is sticking with plans to add half a million barrels a day of oil-production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to Continue Reading
Libya’s crude production exceeded 700,000 barrels a day and is due to keep rising as working conditions in the conflict-ridden country improved for international companies like Eni SpA and Total Continue Reading
The secretary-general of OPEC said market stability was a primary objective for the production group, but noted the importance of spare capacity. Mohammad Sansui Barkindo, the secretary-general of the Organization Continue Reading
