U.S. crude stocks fell last week as imports plummeted, dropping after nine consecutive increases, while gasoline and distillate inventories declined more than expected, the Energy Information Administration said on Wednesday. Continue Reading
Donald Trump on Wednesday ordered the reopening of a review of future fuel economy and emissions standards for US cars, in a move that could slow down development of electric Continue Reading
Rosneft could take control of 49.9 percent of Citgo – the troubled U.S. business of Venezuela’s state-owned oil company, media are warning. PDVSA used the stake as collateral for a Continue Reading
Administrator Scott Pruitt and Department of Transportation Secretary Elaine Chao announced that EPA intends to reconsider its final determination issued on 12 January 2017 which recommended no change to the Continue Reading
Oil rebounded above $48 a barrel amid a reported decline in U.S. crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Continue Reading
Oil prices rebounded from three-month lows on Wednesday after industry data showed a surprise drawdown in U.S. crude stockpiles and as Goldman Sachs put a positive spin on OPEC’s compliance Continue Reading
For traders who were paying attention, the weekly COT (Commitments of Traders) reports from the CFTC (U.S. Commodity Futures Trading Commission) have recently been screaming out a warning…crude oil bear Continue Reading
Global oil markets are gradually rebalancing, but progress has been slower and more uneven than the Organization of the Petroleum Exporting Countries and bullish hedge funds expected. OPEC as well Continue Reading
1. Shale The US shale industry has come back with a bang, with oil prices back above $50 a barrel. After two years of contraction, the US Energy Information Administration Continue Reading
The possibility of OPEC deciding to extend the deadline of its November 30 oil output cut agreement is growing, according to one former senior U.S. energy official. Former Assistant Secretary Continue Reading
