Expanding fuel shipments from the Persian Gulf will intensify competition from Europe to Asia, squeezing profits across the global refining industry and contributing to a looming glut of oil products. Continue Reading
Saudi Arabia, the world’s biggest oil exporter, moved to allay fears that the kingdom was backing away from its pledge to curb production, underlining its concern about a 10 per Continue Reading
The speaker of the parliament based in the eastern part of Libya says Russia has promised military assistance. House of Representatives President Agila Saleh told Russia’s state RIA Novosti news Continue Reading
Saudi Arabia told OPEC it raised output back above 10 million barrels a day in February, reversing about a third of the cuts it made the previous month. The kingdom Continue Reading
Iran will keep its oil production cap at 3.8 million barrels per day in the second half of 2017, the country’s oil minister said on Tuesday, provided other OPEC members Continue Reading
President Donald Trump met with Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman at the White House on Tuesday for a discussion that was likely to touch on investment opportunities Continue Reading
The Venezuelan government is investigating alleged corruption in a $1.3 billion contract between the state oil company and a private contractor co-founded by a Saudi prince, according to law-enforcement officials Continue Reading
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a government official said on Wednesday, as Continue Reading
China’s stockpiling of crude oil appears to have increased in the first two months of the year, despite prevailing higher prices caused by OPEC and its allies curbing output. The Continue Reading
A flood of natural gas swamping the U.S. is turning into a global glut, sinking prices and dimming the hopes of American producers to export their way out of an Continue Reading
PetroChina pays highest price among all winners Final destination of the crude not yet decided Analyst calls it a profile-building exercise PetroChina International has bought crude oil from the US Continue Reading
Premier Li Keqiang said Wednesday China will set up a special fund and pool the country’s best scientists to find out the “unique” cause of smog that frequently blankets north Continue Reading
Delta Air Lines has hired a consultant to assess the impact on jet fuel prices if the carrier sells or closes the Philadelphia-area refinery it purchased five years ago to Continue Reading
Caelus Energy and Jim Musselman are braving polar bears, bitter cold and harsh economic reality. It’s hard to tell where the world ends here on the Alaska North Slope. In Continue Reading
President Donald Trump is set to sign a sweeping directive to dramatically shrink the role climate change plays in decisions across the government, ranging from appliance standards to pipeline approvals, Continue Reading
A drop in crude oil prices was a relief for U.S. consumers who saw retail gas prices drop in kind, but the relief may be short-lived, a market analysis finds. Continue Reading
In 2011, while working toward a Ph.D. in American Studies at the University of Minnesota, Matthew Schneider-Mayerson began a study into the peak oil community. Approaching his subject from the Continue Reading
OPEC’s worst enemy isn’t U.S. shale drillers. It’s the hedges propping them up. American oil explorers who survived the worst of the 2014-2016 market rout are shrugging off the 14 Continue Reading
For more than a decade, Sen. James M. Inhofe has raged against the scientific consensus that humans are fueling climate change, calling it “the greatest hoax” ever perpetrated on Americans. Continue Reading
So far this year, natural gas has performed the worst among major commodities, posting painful losses in January and February. It has rebounded somewhat in the last few weeks, but Continue Reading
The proposed border adjustment tax has been dividing U.S. lawmakers. It is also dividing companies into those who support it and those who do not, as the simplified theory of Continue Reading
The dramatic drop in crude oil prices is in large part because of “aggressive” output in the United States, but OPEC still factors in, a Russian minister said. Crude oil Continue Reading
Eon, the German utility, recorded a net loss of €16bn for 2016 — the largest in his history — and unveiled ambitious measures to reduce debt by €7bn through asset sales and Continue Reading
Crude oil prices hovered near three-month lows on Tuesday in early Asian trading as investors await key reports and data that may shed light on a supply overhang in the Continue Reading
Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. The critical question is Continue Reading
Oil prices are down nearly 10 percent over the past month, leading some to wonder if we’re set for a resumption of the plunge seen between 2014 and early 2016. Continue Reading
Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that Continue Reading
Oil’s fall from grace last week started with hedge funds, and it may only get worse from here. Investors cut bullish wagers on West Texas Intermediate crude to a one Continue Reading
Leonardo Maugeri of Harvard University, who in 2012 predicted a glut in oil supplies and a steep fall in prices, has warned that there is again a prospect that the Continue Reading
When OPEC announced production cuts last year, the most reliable indicator of oil-market supply started signaling a shortage ahead. Now it’s pointing the other way. In the weeks after OPEC’s Continue Reading
Last November, OPEC orchestrated an impressive feat: corralling all (or nearly all) of its members to sign on to relatively aggressive production cut deal, and then actually convincing everyone to Continue Reading
Damned if they do and damned if they don’t. This is OPEC’s precarious position after the recent fall in oil to below $50 per barrel. Oil prices will tank if Continue Reading
By the end of the year, Iraq plans to shatter the record-setting benchmarks it achieved in 2016 for both oil and gas production.Despite an OPEC agreement to limit global supply, Continue Reading
Saudi Deputy Crown Prince, Mohammed bin Salman, responsible for the kingdom’s reforms, left on Monday for Washington to meet President Donald Trump on a visit expected to pitch the world’s Continue Reading
U.S. shale oil production in April was set for its biggest monthly increase since October as output in the Permian Basin, America’s fastest growing shale oil region, was expected to Continue Reading
Oil markets are looking particularly bearish this week, with WTI once again below $50, the OPEC cuts in jeopardy over Iran and Iraq ramping up production, the second U.S. shale Continue Reading
The NYMEX April natural gas futures contract continued to increase Monday, fueled by strong demand as weather forecasts indicate winter is not over just yet. This on the heels of Continue Reading
A drilling surge in America’s hottest oil play may prove to be a pitfall for natural gas bulls. As explorers extract crude from the Permian shale in West Texas, they’re Continue Reading
The Trump administration’s plan to slash corporate tax rates could free up more than $10 billion a year for U.S. oil explorers, opening new opportunities to boost drilling at a Continue Reading
Canada’s oil industry is facing a dilemma – three major proposed pipelines but perhaps only room enough for two of them. For years, the oil industry in Canada has been Continue Reading
A problem for the U.S. shale oil and gas industry that analysts and observers have warned about for a long time has materialized: there is a shortage of workers. According Continue Reading
A recovery in U.S. oil output may deter OPEC and non-OPEC producers from extending production cuts beyond June and might lead to a new price war, Russia’s top oil major Continue Reading
Oil steadied below $49 a barrel as U.S. drillers continued to boost activity, countering OPEC’s efforts to drain a global glut. Futures were little changed in New York after falling Continue Reading
Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs. Brent crude LCOc1 had Continue Reading
Houston hosted two events this week: the nation’s largest energy conference and the town’s famous rodeo. They have more in common than you’d think. In both cases, the key for Continue Reading
Saudi Arabia and American frackers are gearing up for the second oil war. It will take oil lower, but not back to $20 again. Saudi Arabia has kept its promise. Continue Reading
Listed reserves haven’t changed in nearly 30 years * Falih says reserves could be bigger than those already booked * Disclosures likely to resemble those of BP and Shell * Continue Reading
Last week when Saudi Arabia let it leak that the kingdom has no intention of leading OPEC toward another cut in production to accommodate the growing volumes of oil from Continue Reading
Libya’s crude output dropped 11 percent as clashes among rival armed groups over the last 10 days led to the closing of some of the OPEC nation’s biggest oil export Continue Reading
Last Friday, news broke that the Benghazi Defense Brigades seized control of two major Libyan ports on the “Oil Crescent,” posing a real challenge to Khalifa Haftar and Russia’s grip Continue Reading
