Canadian Prime Minister Justin Trudeau has defended his government’s decision to ban all drilling for oil and gas in the Arctic for the next five years—for starters—in response to a Continue Reading
Oil prices dipped on Wednesday over concerns that producer club OPEC would not be able to maintain its high compliance so far with output cuts aimed at reining in a Continue Reading
A mystery is confounding the US oil market: when inventories rise, prices rise, too. That is not the way it is supposed to work. At 508.6m barrels as of early Continue Reading
Oil prices have traded reliably in the $50s per barrel since OPEC agreed to cut production last November, but having failed to break through a ceiling in the upper-$50s, crude Continue Reading
It is more likely that oil prices will fall below $50 per barrel than that they will continue to rise toward $70. Prices have increased beyond supply and demand fundamentals Continue Reading
Measuring the success of OPEC’s production cuts has never been harder. Oil traders say they aren’t just looking at the most recent numbers from the Organization of the Petroleum Exporting Continue Reading
Crude oil stockpiles are expected to empty significantly during the third quarter as continued production restraint from OPEC interacts with the seasonal increase in consumption. OPEC and non-OPEC countries are Continue Reading
Iraq’s government is ambitious and it wants to make the most of the country’s oil and gas reserves. Plans for an expansion of the country’s refinery network have been circulating Continue Reading
The federal Oil Ministry has begun sending NOC-produced crude to KRG refineries, generating badly needed fuel that will supply areas liberated from IS. New deal links Kirkuk oil and KRG Continue Reading
Major international oil companies say they plan to step up their investments in Egypt, expecting to find more oil and gas now that ENI’s giant Zohr gas discovery has put Continue Reading
Eni SpA will start producing from the giant Zohr natural gas field off Egypt’s Mediterranean coast by the end of 2017 and plans to invest $10 billion in the North Continue Reading
Nigeria said it lost out on as much as $100 billion in revenue last year as attacks by militants in the oil-rich Niger Delta cut crude output to a record Continue Reading
President Donald Trump signed a joint resolution in the Oval Office Tuesday rolling back part of the Dodd-Frank financial regulation overhaul that would require resource extraction issuers to report payments Continue Reading
Mexico’s national oil company Petróleos Mexicanos issued €4.25 billion ($4.49 billion) in bonds Tuesday, the largest euro-denominated emerging market corporate bond deal on record. Emerging market investments have recovered from Continue Reading
Tareck el-Aissami (L) was supported by President Maduro (R) on Tuesday The vice-president of Venezuela has accused the US of “imperialist aggression” after it slapped sanctions on him for allegedly Continue Reading
Investors are buying up physical cobalt anticipating that shortages of the metal, a key component of lithium-ion batteries used in electrical cars, will spur prices to their highest levels since Continue Reading
Retail gasoline prices in the United States continue to hold steady despite regional fluctuations because oil markets in are limbo, a market survey found. Motor club AAA reports an average Continue Reading
Chesapeake Energy Corp. and the estate of its former chief executive, the late Aubrey McClendon, have agreed to settle a legal dispute involving claims that Mr. McClendon stole sensitive documents Continue Reading
Pope Francis has insisted that indigenous peoples must give prior consent for any economic activity on their ancestral lands – an indirect critique as the Donald Trump administration seeks to Continue Reading
A general view shows the headquarters of Gazprom in Moscow, Russia, June 30, 2016. Gazprom’s bid to tap into a pipeline meant to wean Europe off Russian gas threatens to Continue Reading
The start of new production in the North Sea is a testament to the enduring strength of Norway’s energy sector, the country’s energy minister said. Norwegian Energy Minister Terje Soviknes Continue Reading
Russia’s largest oil field, so far past its prime that it now pumps almost 20 times more water than crude, could be on the verge of gushing profits again for Continue Reading
Explorers look set to drill a record number of wells in Norway’s Arctic waters this year, undeterred by oil prices apparently stuck below $60 a barrel. After making a discovery Continue Reading
France’s Total is looking to invest in energy projects further downstream than their upstream and LNG production facilities, the company’s President of Gas Laurent Vivier said Tuesday. The strategy is Continue Reading
Oil is charging lower to start the new week, as the monthly OPEC oil market report has done little to assuage oversupply concerns – despite the cartel’s proclamations of production Continue Reading
Oil prices dipped on Monday on signs that global fuel markets remained bloated despite OPEC-led crude production cuts that have been more successful than most initially expected. Brent crude futures Continue Reading
The EIA is, and will continue to be, the gold standard for reporting U.S. oil inventories, and the administration’s weekly reports have the power to immediately swing crude oil prices Continue Reading
IEA Sees OPEC Achieving 90% Production Cut Compliance There are limits to investors’ love affair with OPEC. After unprecedented optimism that the Organization of Petroleum Exporting Countries will manage to Continue Reading
Top OPEC oil producer Saudi Arabia made a large cut in its crude output in January to support prices and lessen a glut, helping boost compliance with the group’s supply-reduction Continue Reading
Steep Opec production cuts could ease an oil market surplus quicker than expected in 2017, the oil cartel signalled in its first output assessment since a deal to curb supplies Continue Reading
The new January OPEC Monthly Oil Market Report is out with crude only production numbers for January 2017. All charts are in thousand barrels per day. (Click to enlarge) OPEC Continue Reading
When OPEC and other major oil exporters agreed late last year to limit production as a way to bolster teetering prices, many saw it as a shaky deal by a Continue Reading
The nation most identified with its massive oil reserves is turning to wind and solar to generate power at home and help extend the life of its crucial crude franchise. Continue Reading
Iraq, OPEC’s second-largest producer, plans to cut crude exports from its southern port of Basra to 3.013 million barrels per day (bpd) in March, the lowest since August, a loading Continue Reading
Saudi Arabia Cuts Oil Output by Most in 8 Years Iraq’s oil exports are poised to slump to a seven-month low in March as ongoing maintenance at some of its Continue Reading
No compatible source was found for this media. Tom Petrie Says Oil’s on Path to Successful Rebalancing Saudi Arabia told OPEC that it cut oil production by the most in Continue Reading
A metric used to gauge oil demand in China, the world’s second-largest economy, show steady gains but at a slower pace than before, S&P Global Platts said. Platts measured China’s Continue Reading
Iraq will reduce the amount of crude oil it exports via its largest port terminal in Basra to 3.013 million bpd next month, according to loading data seen by Reuters. Continue Reading
The Trump administration has frozen millions of dollars in assets belonging to Tareck El Aissami, as it labelled Venezuela’s powerful vice-president an international drug trafficker. The US Treasury designated Mr Continue Reading
India’s rapidly worsening air pollution is causing about 1.1 million people to die prematurely each year and is now surpassing China’s as the deadliest in the world, a new study Continue Reading
In order to cater to growing power demand, China is likely to begin construction on inland nuclear reactors in the next four years, resuming plans for nuclear power plants that Continue Reading
Beijing issued a yellow alert for heavy air pollution Tuesday as a new round of smog hit the city, authorities said. The alert indicates an air quality index of over Continue Reading
China’s crude oil imports and oil product exports in January retreated from fresh highs in December, but were still higher from the same month last year, according to preliminary data Continue Reading
U.S. shale oil production for March is expected to rise by the most in five months, government data showed on Monday, as energy companies boost drilling on the back of Continue Reading
A review board in Canada said it started a detailed approval process for the route of the expanded Trans Mountain pipeline to the western shore. The National Energy Board said Continue Reading
The number of new drilling permits issued in Texas last month was more than 80 percent higher than the previous year, state data show. Texas is the No. 1 oil Continue Reading
Last week a group of Republicans and businessmen tabled a proposal for a carbon tax, designed to replace the Obama administration’s string of environmental regulations aimed at reducing climate change-aggravating Continue Reading
President Trump’s desire that pipelines in the U.S. buy American iron and steel products may run into international trade law violations, and have a yet-unpredictable impact on costs and prices Continue Reading
A new report by the United States Department of Energy concludes that American renewable energy firms are creating more jobs than their fossil fuel counterparts. Solar and wind energy companies Continue Reading
Has the Permian Basin become too hot? More companies and enormous sums of capital continue to flood into West Texas to take advantage of the most prolific shale basin in Continue Reading
