U.S. Rig Count Soars, Putting Yet More Pressure On OPEC
This week’s Baker Hughes report shows the U.S. domestic oil and gas rig count up 21 rigs this week, bringing the total to 789 active oil and gas rigs—a fantastic Continue Reading
Russia to cut oil output by 300,000 bpd by end-April: Energy Minister
Russia will cut its oil output by 300,000 barrels per day by the end of April and will maintain production at that level until the global oil cuts deal expires Continue Reading
Oil prices edge up as drop in U.S. crude stocks eases glut worries
Oil prices edged up on Friday as a drawdown in U.S. crude inventory eased concerns about a global supply glut. Brent crude was up 7 cents, or 0.14 percent, at Continue Reading
Oil Set for Weekly Gain as Saudis Say Willing to Extend Curbs
Oil headed for a weekly increase as U.S. stockpiles retreated from record levels while Saudi Arabia said it’s prepared to continue production curbs in the second half of the year. Continue Reading
Wall Street Bullish On Oil Prices Despite Saudi Warnings
Oil prices have given up some of the gains achieved since the OPEC deal was agreed to in late November, and confidence in the buoyancy of crude prices is starting Continue Reading
Why Oil Demand May Be Higher Than Expected
Investors fretting about too much oil supply may get some cheer from demand, or at least the statistics that consistently underestimate it. The International Energy Agency’s closely watched annual estimates Continue Reading
OPEC will need to extend output curbs to sustain oil price recovery: Reuters poll
OPEC will have to extend its oil output curbs in order to sustain a recovery in prices, as a revival in crude production outside the group may scupper its efforts Continue Reading
Iraq’s oil exports dip so far in March after OPEC cut
Oil exports from Iraq’s southern terminals have edged lower so far in March, according to loading data and an industry source, although not as much as expected, potentially raising questions Continue Reading
Oil prices extend gains after drop in U.S. stockpiles
Crude oil prices rose on Thursday to extend gains from the previous session after official government data showed U.S. stockpiles had eased from record highs. Prices surged on Wednesday after Continue Reading
Iran’s Natural Gas Rush Won’t Bring Export Riches — For Now
Iran is on track to out-produce Qatar, the world’s biggest LNG exporter , at the vast natural gas deposit they share in the Persian Gulf. But as much as they Continue Reading