Why the crude rally has fizzled, continued: Market analysis series
This is the second of a three-part look at why oil prices have failed to rally despite OPEC’s best efforts at managing supply cuts. Read part 1 here . So, Continue Reading
Oil Price Volatility and US EIA Data
A number of news media pieces have recently suggested that oil prices may fall due to soaring output in the US. Output from US light tight oil (LTO) may not Continue Reading
OPEC panel recommends six-month extension of oil output cuts: source
An OPEC and non-OPEC technical committee recommended that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said, Continue Reading
At Least 12 Die as Rioting Breaks Out in Venezuela
At least a dozen people were killed as the streets of Caracas, Venezuela, erupted into a night of riots, looting and clashes between government opponents and the National Guard late Continue Reading
Maduro targets companies as Venezuela unrest grows
Venezuela’s president Nicolás Maduro has ordered an investigation into Telefónica’s Movistar for alleged “coup-mongering” after a week of protests against his increasingly repressive rule. Mr Maduro accused the subsidiary of Continue Reading
U.S. Treasury says it will not issue drilling waivers to Russia sanctions
U.S. Treasury Secretary Steven Mnuchin arrives to meet with China’s Finance Minister Xiao Jie during the IMF/World Bank spring meetings in Washington, U.S., April 21, 2017. The U.S. Treasury will Continue Reading
U.S. drillers add oil rigs for 14th week in a row -Baker Hughes
U.S. drillers added oil rigs for a 14th week in a row, extending an 11-month recovery that is expected to boost U.S. shale production in May in the biggest monthly Continue Reading
Exxon Won’t Get Drilling Waiver for Russia, Mnuchin Says
Exxon Mobil Corp. won’t be allowed to bypass U.S. sanctions against Russia to resume drilling for oil in a joint venture that seeks to tap billions of barrels of that Continue Reading
U.S. Oil Drilling Growth Shows First Signs of Cooling Off
U.S. oil drillers slowed the pace of a months-long expansion as investors worry that growing shale production will ruin OPEC’s efforts to prop up prices. Drillers added 5 rigs targeting Continue Reading
Schlumberger posts yearly gain on North American oil recovery
Gains in first quarter activity in North America were offset somewhat by declines in Russia and parts of Europe, oilfield services company Schlumberger said. Most first quarter indicators for the Continue Reading