Under broader pressure from the so-called Brexit, crude oil prices moved lower early Monday on a hangover from higher U.S. exploration and production work. Energy companies working in shale oil Continue Reading
Crude imports by China’s independent refiners are expected to slow down in the coming months as several refiners have used up most of their allocation from the first round of Continue Reading
Tokyo Electric on Sunday confirmed lethally high radiation levels inside the primary containment vessel (PCV) of the heavily damaged unit 1 of the Fukushima Daiichi nuclear plant. A magnitude-9.0 earthquake Continue Reading
The economy for shale-rich Colorado is improving, though a tight labor market and pressure outside the energy sector may be constraining, a budget report finds. The labor market for Colorado Continue Reading
Nearly 70 percent of all new cars need to be electric and $3.5 trillion in annual investments are needed to keep global warming at bay, a new report found. The Continue Reading
Earlier this month, Marathon Oil agreed to spend more than $1 billion on acreage in the Permian Basin, the very hottest place on the planet to drill for oil. On Continue Reading
Despite increasing crude oil prices throughout most of 2016, total U.S. crude oil production in 2016 was below its 2015 level . However, monthly production began growing in the fourth Continue Reading
A dramatically increased share of renewables and higher energy efficiency have the potential to create benefits of up to $10 trillion annually by 2050, compared to estimated incremental system costs Continue Reading
For some time, there has been speculation about when global oil demand may peak – not because we will run out of oil or prices will spike making oil unaffordable, Continue Reading
Americans want to restrict carbon emissions from coal power plants. The White House and Congress may do the opposite. Percentage of adults per congressional district who support strict CO2 limits Continue Reading
As crude oil prices recover from last year’s historic decline, the Russian finance minister said the outlook for gains in gross domestic product have improved. Russia last year was producing Continue Reading
Shell, the world’s second-largest publicly traded energy company, is making a high-stakes bet that it can take highly efficient technology and processes perfected onshore and deploy it in deep-sea production. It hopes Continue Reading
Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market. Futures lost as much as 1.6 percent in Continue Reading
Oil prices fell on Monday as rising U.S. drilling activity and steady supplies from OPEC countries despite touted production cuts pressured already-bloated markets. Prices for front-month Brent crude futures, the Continue Reading
The exodus of oil-price optimists has begun. Money managers cut bets on rising West Texas Intermediate crude by a record amount during the week ended March 14, while wagers on Continue Reading
An historic agreement between OPEC countries and other oil producers to reduce their output won’t be enough to nudge crude prices above $60 a barrel this year, according to energy Continue Reading
China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday Continue Reading
Libya’s National Oil Corporation (NOC) has been coordinating with military forces from eastern Libya and has “no reason to believe” it will not regain control of the Es Sider and Continue Reading
Saudi King Salman’s lavish tour of Asia, arriving in each country on a golden escalator with 400 tons of luggage, had a hardnosed marketing mission – to cement the kingdom’s Continue Reading
Global energy-related carbon dioxide emissions can be reduced by 70% by 2050 and completely phased-out by 2060 with a net positive economic outlook, according to new findings released by the Continue Reading
Money managers’ position in NYMEX crude futures took a bearish turn in the latest reporting period, according to US Commodity Futures Trading Commission data released Friday. The CFTC data confirmed Continue Reading
An oil derrick and wind turbines stand above the plains north of Amarillo, Texas, U.S., March 14, 2017. Oil prices edged up on Friday as a drawdown in U.S. crude Continue Reading
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
The real world of oil trading — where actual cargoes are bought and sold — is doing little to help the hedge funds and other speculators who placed record bets Continue Reading
WTI traded to a 3.5 month low on Tuesday at $47.09 after OPEC members shook production cut deal confidence for a second straight week. Saudi Arabia contributed to bearish concerns Continue Reading
Eleven non-OPEC oil producers that joined a global deal to reduce output to boost prices delivered 64 percent of promised cuts in February, an industry source said on Friday, still Continue Reading
Saudi Arabia has set a near-impossible target to end the current round of OPEC oil-production cuts, indicating that a policy rollover into the second half of the year is a Continue Reading
Oil prices are refusing to budge this Friday, despite a large increase in the U.S. rig count and some bearish noises from OPEC. (Click to enlarge) (Click to enlarge) Friday, Continue Reading
China and Saudi Arabia will increase their cooperation in the oil sector, including in Saudi oil exports to China, the two countries said in a joint communique issued on Saturday Continue Reading
A volatile rivalry between two Kurdish factions, which burst into deadly fighting two weeks ago in Sinjar, continues to escalate with protests and provocative troop movements.Forces aligned with the Kurdistan Continue Reading
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 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 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 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
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
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 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
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
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 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
Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group’s efforts to rein in a global glut have so far had little Continue Reading
OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia ’s Energy Minister said. The curbs will be Continue Reading
Russia urged restraint after a powerful Libyan military commander that it supports regained control of key oil facilities taken by forces loyal to the United Nations-backed government. “We urge all Continue Reading
A volatile rivalry between two Kurdish factions, which burst into deadly fighting two weeks ago in Sinjar, continues to escalate with protests and provocative troop movements.Forces aligned with the Kurdistan Continue Reading
Captains of industry and commerce have endorsed calls by the Nigerian government for oil companies to relocate their headquarters to their areas of operations. The Port Harcourt Chamber of Commerce, Continue Reading
Venezuelan state oil company PDVSA has offered Russian counterpart Rosneft a stake in a joint venture in the country’s Orinoco Belt extra-heavy crude area, five industry sources said, in a Continue Reading
China’s crude oil production dropped by 8 percent annually to 31.44 million tons in January and February, as high domestic production costs prompted refineries to import more crude oil, according Continue Reading
China and Saudi Arabia have signed preliminary deals that could be worth as much as $65 billion if finalized, Xinhua reports . The news came on the first day of Continue Reading
China’s crude oil output fell 8 percent year on year in the first two months of 2017 as refineries slashed production and imported more due to high exploitation costs, data Continue Reading
China Petroleum and Chemical Corp (Sinopec) is nearing an agreement to buy a majority stake in Chevron Corp’s South African assets, which are estimated at $1 billion, two people familiar Continue Reading
