Crude prices rise as investors bet big on oil strength
Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year. U.S. West Texas Continue Reading
Goldman says global crude stocks likely to keep falling
Goldman Sachs expects global crude oil inventories to keep falling due to production cuts and strong growth in demand, although stocks are likely to rise in the United States. “We Continue Reading
Total CEO Says OPEC Needs to Prolong Cuts to Eliminate Surplus
Total SA CEO Calls U.S. Shale Oil Industry Dynamic OPEC and Russia will need to prolong their six-month deal to cut oil output if they plan to trim the global Continue Reading
Natural Gas Bulls Crushed As Prices Tank
Natural gas prices plunged to their lowest level since November on mild weather in the U.S., which has caused storage levels to decline at a much slower pace than expected. Continue Reading
This Is Where Oil Majors Expects The Next Big Efficiency Jump
The race for using high-performance computing in oil and gas reservoir simulation, management and development is on. Oil and gas supermajors are continuously pushing for higher efficiency and lower costs, Continue Reading
OPEC chief sees higher compliance with oil cut, says confidence returning
OPEC and outside producers including Russia will boost compliance with agreed oil output curbs in a bid to clear a supply glut that has weighed on prices, the group’s secretary Continue Reading
OPEC Chief Sees No U.S. Threat as Shale Production Rises
OPEC’s most senior official said he would meet U.S. shale producers next month, as he sought to allay fears his cartel could be hurt by resurgent American output and the Continue Reading
Iran to sign oil contract to sell Russia 100,000 bpd: state TV
Iran announced on Tuesday it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in Continue Reading
Libya signs deal with Russia’s Rosneft
An agreement with Russian oil company Rosneft helps lay a foundation for the recovering oil sector in Libya, Libya’s top oil producer said. Meeting on the sidelines of an international Continue Reading
Saudi Aramco Weighs Offering Citizens Discounted Shares
Saudi Arabian Oil Co. , gearing up for what may be the world’s biggest initial public offering, is considering discounted shares for local investors, according to people with knowledge of Continue Reading