An overlooked report has revealed the United States is completely reliant on imports from foreign countries, most heavily China, for rare earth minerals critical to our national security. The report, Continue Reading
Oil retreated near $53 a barrel as investors weighed rising U.S. drilling activity against OPEC production cuts that the International Energy Agency estimates achieved a record 90 percent initial compliance Continue Reading
A gas station attendant pumps fuel into a customer’s car at PetroChina’s petrol station in Beijing, China, March 21, 2016. Oil prices dipped on Monday on signs that global fuel Continue Reading
The oil market is in a “wait-and-see mode” as OPEC implements its production cuts, with the record level of compliance boding well for tighter conditions, the IEA said in its Continue Reading
Discoveries of new oil and gasfields have dropped to a fresh 60-year low, as companies put a brake on exploration and large fields have become harder to find. There were Continue Reading
There are limits to investors’ love affair with OPEC. After unprecedented optimism that the Organization of Petroleum Exporting Countries will manage to ease a global supply glut, money managers reduced Continue Reading
Reverberations from President Donald Trump’s travel ban and other stances are threatening to undermine future U.S.-Iraqi security cooperation, rattling a key alliance that over the past two years has slowly Continue Reading
Libya’s oil production problems extend far beyond whether the forces of Tripoli or Benghazi secure ultimate control over the country: Clan-based militias are running their own smuggling operations, and their Continue Reading
The flames exploded into the sky like a volcanic eruption, blanketing a swath of the Iraqi countryside in a noxious haze of black smoke. The inferno reached more than 300 Continue Reading
Oil companies’ big bet on demand in their fastest-growing market is getting less lucrative. Energy companies are investing billions of dollars over the next several years in new and existing Continue Reading
India’s monthly oil demand fell the most since May 2003 as the government’s crackdown on high-value currency notes continued to reverberate through the country’s $2 trillion economy. Fuel consumption fell Continue Reading
Chinese steel capacity in operation actually rose in 2016 after a high-profile closure program concentrated on shutting idled plants, environment group Greenpeace said on Monday. China – the world’s top Continue Reading
China is considering forcing steel and aluminum producers to cut more output, banning coal in one of the country’s top ports and shutting some fertilizer and drug plants as Beijing Continue Reading
Opec countries drastically curbed their output in the first month of their new production agreement, in the clearest sign to date that the world’s biggest oil producers are committed to Continue Reading
Oil prices rose Friday after a top energy watchdog said exporters are following through on promises to cut oil production to end a longstanding glut in the market. The International Continue Reading
An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group Continue Reading
WTI snapped out of a two week coma on Wednesday trading to a low of $51.22 following an API report revealing a 14m bbl crude oil build which was later Continue Reading
Forecast Highlights Global liquid fuels Implied global petroleum and liquid fuels inventories are estimated to have increased by 0.8 million barrels per day (b/d) in 2016. EIA expects the oil Continue Reading
Two anonymous OPEC sources say that eleven of the non-OPEC nations that are part of the oil output reduction deal struck at the end of November have only made 40 Continue Reading
Nigerian Vice President Yemi Osinbajo visited the Niger Delta on Friday in a move that could bring peace to the oil-producing region after almost a year of militant and separatist Continue Reading
U.S. energy companies accelerated the rate of growth in oil rigs added over the past four weeks by the most since 2012 as drillers take advantage of a rise in Continue Reading
Record prices for drilling rights in the Permian Basin, the most fertile U.S. shale field, are prompting oil companies and private equity investors to look elsewhere for the next big Continue Reading
The number of rigs drilling for oil in the U.S. rose by 8 in the past week to 591, according to oil-field services company Baker Hughes Inc. The U.S. oil-rig Continue Reading
U.S. oil exports are on the rise, fueled by comparatively higher prices for foreign oil they compete with and lower shipping rates. But analysts say any further increases in exports Continue Reading
LNG exports from the US’ Sabine Pass hit a record in January this year, according to data from Platts Analytics, Friday. Export volumes reached 1.476 Bcm of gas equivalent, versus Continue Reading
In 2017, the offshore rig market is not expected to recover to the levels some had forecasted. In 2017, the offshore rig market is not expected to recover to the Continue Reading
Despite having just one-fifth of the world’s shale resources, advantages in the US and Canada mean the countries will continue to monopolize the market, according to a new Raymond James Continue Reading
Russia is set to post higher exports of Urals crude for the first half of this year despite cutting oil production ahead of schedule under a deal with OPEC aimed Continue Reading
A move by the French government to budget for more solar and hydropower projects on its grid was endorsed Friday by the European Commission. The French government said new solar Continue Reading
Russia’s Central Bank Gov. Elvira Nabiullina says the economy will grow even if the price of oil moves back toward $40 per barrel. Photo courtesy of the Central Bank of Continue Reading
Oil prices were stable early on Friday, with OPEC-led production cuts supporting the market while soaring U.S. fuel inventories were weighing on crude. U.S. West Texas Intermediate (WTI) crude futures Continue Reading
Oil prices are moving back toward the top of their recent trading range, looking to muster a test of resistance once more. As positivity abounds amid new intraday record highs Continue Reading
Natural gas prices edged higher Thursday after government data indicated that natural gas supplies are tight even though mild temperatures have limited demand for the fuel. The U.S. Energy Information Continue Reading
A worker checks the valves at Al-Sheiba oil refinery in the southern Iraq city of Basra, January 26, 2016. REUTERS/Essam Al-Sudani/File Photo Global oil output plunged in January as OPEC Continue Reading
OPEC achieved the best compliance rate in its history at the outset of an accord to clear the oil glut, a plan that’s being supported by surprising strength in demand, Continue Reading
Supported by strong 4Q16 numbers,the estimate for global oil demand growth for 2016 was revised up for the third consecutive month to 1.6 mb/d. Although still forecast to decelerate in Continue Reading
Oil jumped as the International Energy Agency said OPEC had achieved record initial compliance of 90 percent with their cuts agreement, while demand grew faster than expected. Futures gained as Continue Reading
OPEC members have reached a record compliance of 90% with their agreed output cuts, the International Energy Agency said Friday. The Organization of the Petroleum Exporting Countries on Nov. 30 Continue Reading
A form of AI technology is being used to provide greater transparency in the oil market by detecting unknown oil storage tanks. A form of artificial intelligence (AI) is now Continue Reading
As soon as Iran’s nuclear deal with world powers took effect, Majid Zamani and his partners set up an investment boutique with the aim of tapping into the flood of Continue Reading
While the Eastern Mediterranean is well known for its major (and underexploited) gas reserves, Lebanon is the latest country in the region to join the oil rush, after Egypt’s fitful Continue Reading
Steady payments from the Kurdish government in Iraq and improved market conditions means it’s time to start drilling more, Norwegian company DNO said. DNO said it received $210 million in Continue Reading
Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco . Yet, the country’s colossal natural gas resources allow the state-run company to Continue Reading
The Nigerian Navy has rescued an oil tanker from pirates near Bonny Island, even as the number of high-seas hijackers is at an 18-year low, according to the International Maritime Continue Reading
Venezuela’s state-run oil company, PDVSA, has fallen months behind on shipments of crude and fuel under oil-for-loan deals with China and Russia, according to internal company documents reviewed by Reuters. Continue Reading
Forecast Highlights Global liquid fuels Implied global petroleum and liquid fuels inventories are estimated to have increased by 0.8 million barrels per day (b/d) in 2016. EIA expects the oil Continue Reading
The carnage continues in the U.S. major oil industry as they sink further and further in the RED. The top three U.S. oil companies, whose profits were once the envy Continue Reading
On February 3, the Republican-led Senate used an obscure procedural tool to end a bipartisan provision meant to fight corruption and overseas oil bribery, a rule opposed by Rex Tillerson Continue Reading
A potential increase in gasoline taxes in several U.S. states could put a dent in demand at the pumps and mark another setback for a market already flooded with excess Continue Reading
Many a swan song has been sung for thermal coal markets as renewable power generation and a push towards using more natural gas have gained traction. Yet a coal price Continue Reading
