When Will Russia Run Out Of Oil?
On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. In 2016, only 3.7 billion barrels of conventional oil were discovered, roughly Continue Reading
Seadrill in a Free Fall Seen Left to Day Traders as Hope Fades
Seadrill Ltd. , once the crown jewel of billionaire John Fredriksen’s business empire, is at the mercy of short-term speculators as the biggest funds shun the offshore driller amid a Continue Reading
Oil Rally Fizzles as Prices Made Vulnerable by Libyan Recovery
Oil’s rally above $50 a barrel is running out of steam after Libyan production returns, bringing the focus back to OPEC. Futures in New York extended losses after dropping 0.7 Continue Reading
Oil prices fall as Libya’s output rebound boosts supply
Oil prices fell on Tuesday as a rebound in Libyan crude production combined with an increase in U.S. drilling to signal the potential for increased supply. Benchmark Brent crude oil Continue Reading
Oil Markets On Edge As Libya Brings Back 250,000 Bpd
Crude oil production at the Sharara field in western Libya – the country’s biggest – has resumed, an anonymous source told Reuters , and the force majeure that the National Continue Reading
Oil Holds Above $50 as OPEC Optimism Weighed Against U.S. Supply
Oil is holding near $50 a barrel as optimism spurred by OPEC’s output cuts confronts pessimism over rising U.S. supply. Futures in New York were little changed after rising 5.5 Continue Reading
Hedge funds square up most of their former record bullish position in oil: Kemp
Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds’ net position in Continue Reading
The First Sign Of Tighter Oil Markets Is Finally Here
WTI and Brent crude start Q2 in the fifty dollardom, as the market continues to grapple with market rebalancing and OPEC compliance. As the market awaits signs of a tightening Continue Reading
Oil could turn south again to the low $40s,
Several factors are conspiring to keep a lid on oil — and could even send prices sharply lower, analyst John Kilduff told CNBC on Monday. A recent rally — nearly Continue Reading
Oil Traders Drain Hidden Caribbean Hoards as OPEC Cuts Bite
During the oil price rout, islands in the Caribbean were exhibit A for the longest-lasting glut in three decades, with millions of barrels stored there. Now, that oil is flowing Continue Reading