Iran’s Oil Minister Bijan Zanganeh talks to journalists before the beginning of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, May 25, 2017. The Continue Reading
Goldman Sachs Group Inc. bought about $2.8 billion in Venezuelan bonds that had been held by the oil-rich country’s central bank, a lifeline to President Nicolás Maduro’s embattled government as Continue Reading
The OPEC deal will lead to an ongoing tightening of the crude oil market, putting a floor beneath crude prices in the $50s per barrel in the second half of Continue Reading
Foreign oil companies will soon be able to invest in China’s upstream sector through joint ventures with the country’s three major fossil fuel companies, according to a new manifesto by Continue Reading
China’s gasoil exports fell sharply in April from the previous month’s record high, as a cocktail of lower stocks and reduced output at home prompted refiners to keep more barrels Continue Reading
An above-normal Atlantic hurricane season could be a problem for the U.S. energy industry, but data show shifting production patterns may spare oil. Meteorologists with the National Oceanic and Atmospheric Continue Reading
U.S. has brought crude oil from 80 nations into its refineries In the past 30 years, the U.S. has imported more than 91 billion barrels of oil, drawing from a Continue Reading
The Chart above compares several different combinations of past (vintage) data to estimate output. The dotted line is based on the most recent 8 months (August 2016 to March 2017) Continue Reading
Rebuilding the completion crew workforce at US shale plays will take time, likely to slow North American crude oil production. The net result of the industry’s massive layoffs may be Continue Reading
The US has underestimated the risks to its nuclear safety as a single nuclear fuel fire could lead to fallout “much greater than Fukushima,” according to a new study. Researches Continue Reading
Oil prices appear to have recovered from last week’s flash crash following a significant draw in U.S. inventories and bullish rumors surrounding the OPEC deal. (Click to enlarge) (Click to Continue Reading
The number of active oil and gas rigs in the United States rose by 8 on Friday, according to oilfield services provider Baker Hughes . The total oil and gas Continue Reading
With oil prices spiking nearly 10 percent from last Friday’s sudden, capitulation “flash crash” which was perhaps driven by Pierre Andurand liquidating his entire long book, there has been a Continue Reading
Saudi Arabia signals curbs will be rolled into next year Oil market attention shifts to potential oversupply in 2018 When Khalid Al-Falih arrived at Davos in late January, the Saudi Continue Reading
The Organization of the Petroleum Exporting Countries deserves a pretty good grade, arguably a B-plus, for its effort to prop up the world oil market. That may not be reflected Continue Reading
Six months after restricting their oil output in an effort to raise global crude prices, some members of OPEC are pushing for a broader effort to reduce petroleum production, say Continue Reading
Kazakhstan could add at least another quarter million barrels of oil per day to the market through new field development, a country assessment found. The U.S. Energy Information Administration updated Continue Reading
Parties to the development of the Leviathan natural gas field off the coast of Israel said they’re ready to tap into a loan to facilitate momentum. Delek Group, alongside its Continue Reading
Credit rating lowered to one notch below investment grade S&P says Oman can’t mitigate risk of volatile export revenue Oman was cut to junk by S&P Global Ratings, which said Continue Reading
U.S. energy firms added oil rigs for a 17th week in a row, extending a 12-month drilling recovery that is expected to help boost crude production in the United States Continue Reading
The US oil rig count rose by 9 to 712 in the week ending Friday, up from 318 a year ago, Baker Hughes said in its weekly report. The US Continue Reading
Sustained declines in coal train loadings from the Powder River Basin have pushed down total US volumes to a 2017-low weekly total, Surface Transportation Board filings showed. Data filed by Continue Reading
A moment of truth is at hand, not just for Tesla, not just for electric vehicles, but for transport generally. It is by no means clear that Tesla will ever Continue Reading
Oil is rallying for a second consecutive day, with continued positive momentum from yesterday’s weekly inventory report, in combination with rising hopes of deeper and/or longer production cut commitments by Continue Reading
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. Oil prices edged up on Tuesday, driven by anticipation that Continue Reading
Commodity pricing is a complex thing, with a whole host of things affecting the price at which buyers and sellers transact, but almost all of those things fall into one Continue Reading
Natural gas prices jumped to a three-month high, breaking from a recent pattern of tight trading after government data showed a smaller-than-expected storage addition for last week. The U.S. Energy Continue Reading
“Well he would say that, wouldn’t he.” Mandy Rice Davies at the time of the Profumo scandal, 1963. OPEC has mounted yet another charm offensive as a result of last Continue Reading
Saudi Arabia signals curbs will be rolled into next year Oil market attention shifts to potential oversupply in 2018 When Khalid Al-Falih arrived at Davos in late January, the Saudi Continue Reading
OPEC members and their partners in the oil production cut agreements from last November and December have reached a consensus to extend the deal until the end of 2017, the Continue Reading
If OPEC was a person, you’d recommend either therapy or that it cut its losses and start licking its wounds. As Bill Baruch, chief market strategist at iiTRADER told marketwatch.com Continue Reading
OPEC on Thursday boosted its forecast for 2017 oil-production growth from countries outside the cartel by more than 60%. It is the latest evidence that surging U.S. production is dragging Continue Reading
Oil cuts to be extended by six months: Iraq, Algeria ministers OPEC to make formal decision at May 25 meeting in Vienna OPEC and other oil producers taking part in Continue Reading
Non-OPEC to grow 950,000 barrels a day in 2017, led by U.S. Outlook for non-OPEC now 4 times higher than at outset of cuts OPEC boosted estimates for growth in Continue Reading
OPEC on Thursday sharply raised its forecast for oil supply from non-member countries in 2017 as higher prices encourage U.S. shale drillers to pump more, hampering OPEC efforts to clear Continue Reading
The International Energy Agency will review its electric vehicle (EV) use and oil demand forecasts after India and China recently signaled new policies in favor of electric cars and vehicles Continue Reading
First quarter revenue rises 72% to 144 billion riyals Revenue from oil more than doubles, non-oil revenue up 1.3% Saudi Arabia reported a first quarter budget deficit of 26.2 billion Continue Reading
While OPEC has just two weeks left until the May 25th meeting to decide on an extension of its production cuts, U.S. shale is back to drilling and planning capital Continue Reading
U.S. crude stocks have shown a sustained decline over the last five weeks, giving oil bulls new inspiration that the market is rebalancing. Commercial crude inventories have fallen by 13 Continue Reading
Only 20% onshore rigs in Indonesia operating vs 60% in 2012 Nation may not see major oil, gas investment: Drilling group Red tape, rising costs and declining crude prices are Continue Reading
U.S. Secretary of State Rex Tillerson will host foreign ministers from Arctic nations at a summit in Alaska on Thursday, where President Donald Trump’s reluctance to fight climate change will Continue Reading
Source: U.S. Energy Information Administration, Power Plant Operations Report The generation fuel mix of electricity in the Northeast Census division of the United States has shifted dramatically over the past Continue Reading
A move to open up parts of the Atlantic to oil and gas activity by the Trump administration went against regional interests, a letter shows. The U.S. Interior Department said Continue Reading
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma September 15, 2015. Oil prices edged up on Tuesday, driven by anticipation that Continue Reading
After yesterday’s monthly EIA report, and tomorrow’s monthly OPEC report, the weekly EIA inventory report acts as the filling in this energy data sandwich. While have to wait until next Continue Reading
Global oil demand will exceed supply in the second quarter, and even more so until the end of the year, if OPEC extends the production cuts, according to Neil Atkinson, Continue Reading
As pessimism sweeps over the oil market, a few prominent voices are unbowed, arguing that the market is well on its way towards balance. Goldman Sachs’ head of commodities Jeff Continue Reading
Decline in fuel inventories is accelerating, says Jeff Currie Supply deficit to expand even more if OPEC extends cuts: IEA Oil is trading near $50 again, OPEC seems to be Continue Reading
Saudi Arabia’s energy minister Khalid al-Falih tried to put the markets at ease by all but confirming that OPEC would extend its production cuts through the end of the year. Continue Reading
When it comes to the oil market, the narrative over the past year, ever since OPEC’s first aborted its meeting last April, has been just one: limit crude supply in Continue Reading
