Independent refiners bought 21% less oil month-on-month: ICIS April imports at 8.4 million b/d down 8.8% from March record China’s oil imports dropped from a record as purchases by the Continue Reading
About 756,000 plug-in electric vehicles (PEVs) were sold in the world in 2016, with 95% of those sales in China, Europe, the United States, Japan, and Canada, according to figures Continue Reading
One recent afternoon at a Shell-branded station on the outskirts of this Dutch city, the price of a gallon of unleaded gas started ticking higher, rising more than 3½ cents Continue Reading
An oil and gas drilling advocacy group published an open letter to Google asking the search engine giant to consider “purging or demoting” websites spreading misinformation about hydraulic fracturing. Google Continue Reading
Russian Energy Minister Alexander Novak on Monday backed extending oil output curbs by leading producers, saying it would help speed up a return to a healthier market. Novak did not Continue Reading
WTI oil prices plunged to almost $45 per barrel yesterday (Figure 1). That was a downward adjustment to where prices should be based on supply, demand and inventory fundamentals. (Click Continue Reading
Money managers least bullish on WTI crude in five months Longs fell, shorts surged just before oil took near 5% tumble Hedge funds jumped out of the oil market just Continue Reading
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during Continue Reading
Prolonging cuts will speed up rebalancing of market: Novak Saudi Minister Al-Falih confident of agreement to extend Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling Continue Reading
Indian Oil boosting spot purchases of low-sulfur crude: Ashok Company reducing share of purchases made via long-term deals The global oil market glut is helping India’s biggest crude processor become Continue Reading
Producer group determined to reach goal of reducing stockpiles U.S. shale output has slowed impact of OPEC’s production curbs Saudi Arabia’s oil minister said he’s confident that an agreement by Continue Reading
Saudi energy minister Khalid al-Falih said Monday at an industry conference in Kuala Lumpur that he was confident that the crude oil output cut deal will be extended by six Continue Reading
Iran’s defense minister on Monday lashed back at Saudi Arabia, slamming the kingdom’s deputy crown prince over belligerent comments last week that underscored the deep rivalries between the Sunni and Continue Reading
Independent refiners bought 21% less oil month-on-month: ICIS April imports at 8.4 million b/d down 8.8% from March record China’s oil imports dropped from a record as purchases by the Continue Reading
Since U.S. oil production started recovering at the end of 2016, coinciding with a pro-oil administration entering the White House, industry bodies and analysts have been projecting that the U.S. Continue Reading
An oil derrick and wind turbines stand above the plains north of Amarillo, Texas, U.S., March 14, 2017. The energy industry scrutinizes U.S. oil stockpile data every week for evidence Continue Reading
-We’re viewing this week’s flat price damage as a function of bullish frustrations and momentum chasing rather than new bearish fundamental revelations. In short, we think the market became impatient Continue Reading
OPEC officials maintain market is rebalancing Cut extension details still in flux Market has priced in extension, say analysts The price swoon of the last few weeks has no doubt Continue Reading
Oil prices crashed on Thursday before bouncing back in trading on Friday, suggesting that the crash was due more to a technical selloff rather than disappointing fundamentals. Friday, May 5, Continue Reading
About $7 million of August $39 puts change hands Friday ‘Lottery ticket’ signals fear, likely oil recovery: analyst It’s come to this for the beleaguered oil market: a big bet Continue Reading
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Hedge funds cut bullish bets on U.S. crude for the second straight week, data showed on Friday, Continue Reading
Crude oil lost ground on Thursday, falling for a third out of four sessions and trading near its lowest since late March after data showed a lower than expected decline Continue Reading
OPEC and other countries that agreed to cut crude production are converging on the need to extend the pact beyond June to help clear a supply glut, Saudi Arabia’s OPEC Continue Reading
Oil exports now at about 2.5 million barrels a day: Zanganeh Oil minister says he expects oil to trade at $55 a barrel Iran will go along with whatever decision Continue Reading
The Nigerian government, Wednesday, said it has witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months. The Minister of State for Petroleum Continue Reading
Maria Planchart has had to go through trash to find food for her one-year-old son, Jean Pierre. She is among a growing number of Venezuelans suffering from hunger and malnutrition. Continue Reading
Volunteers, members of a primary care response team, walk together as demonstrators clash with police during a rally against Venezuela’s President Nicolas Maduro in Caracas, Venezuela. A 20-year-old Venezuelan protester Continue Reading
The Elevation Resources drilling rig is shown at the Permian Basin drilling site in Andrews County, Texas, U.S. on May 16, 2016. U.S. energy firms added oil rigs for a Continue Reading
A deal with a Japanese oil and gas company was among agreements reached during a recent trade visit to Asia, the provincial leader of Alberta said. Alberta Premier Rachel Notley Continue Reading
The pace of US jobs growth bounced back last month while the unemployment rate dipped to its lowest level since 2007, supporting the Federal Reserve’s view that the economy’s choppy Continue Reading
Nearly 200 tankers have left an oil field above the Arctic Circle in Russia that’s passed the production milestone of 35 million barrels, Gazprom Neft said. A subsidiary of Gazprom Continue Reading
WTI and Brent continued to tumble on Thursday, dropping to their lowest levels since the announcement of the OPEC deal back in November. Brent actually dipped below $49 per barrel, Continue Reading
Oil prices fell 3% over the course of a few minutes in midday Asian trading Friday, hitting their lowest level since a key production-cut agreement in November as traders lost Continue Reading
U.S. crude production rises in longest run of gains since 2012 Crude-price decline drags shares of energy companies lower Oil slid below $45 a barrel for the first time since Continue Reading
Oil prices fell to a five-month low Thursday, as investors have become increasingly skeptical of OPEC’s abilities to ease a global supply glut amid elevated U.S. crude production and inventories. Continue Reading
OPEC and non-OPEC oil producers look likely to extend their agreement to limit supplies beyond its June expiry to help clear a glut, three OPEC delegates said on Thursday, downplaying Continue Reading
American output has longest run of gains in more than 4 years Commodities tumble amid concern Chinese consumption to weaken The oil rally following OPEC’s deal has disappeared. Futures on Continue Reading
First quarter results mean current market conditions support a doubling of the amount of activity in Kurdish oil fields, a Norwegian energy company said. Norwegian oil and gas company DNO Continue Reading
The Iranian Offshore Oil Company will increase production at the Foroozan oil field, which Iran shares with Saudi Arabia, by 12,000 barrels daily, the company’s executive director told Iranian media, Continue Reading
Libya’s ongoing civil war, which has resulted in a hothouse environment for extremists, Da’esh supporters and regional coalitions, could be heading to a slowdown in activity. Arab media sources claim Continue Reading
Students held demonstrations across Caracas Thursday as a two-month-old protest movement that shows no signs of letting up claimed more lives. At the Central University of Venezuela, soldiers bathed hundreds Continue Reading
Mexico’s state energy major Pemex has increased its oil output and the amount of crude it feeds into its refineries, with exports to the U.S. and Asia declining over the Continue Reading
Sweeping energy reforms have turned Mexico into one of the world’s most attractive offshore prospects, but one segment is getting no love from U.S. investors: the nation’s aging refineries. Efforts Continue Reading
Clashes between soldiers and alleged fuel thieves left 10 people dead and nearly a dozen more injured in central Mexico, the military and state officials said Thursday. Four soldiers and Continue Reading
Oil industry leaders meeting in Malaysia next week to discuss extending production cuts won’t have to look far for evidence the market remains awash in supply. Just off the coast, Continue Reading
FILE PHOTO: Erik Solheim speaks during an interview in Jakarta October 25, 2010. REUTERS/Crack Palinggi The United States will shoot itself in the foot if it quits the Paris climate Continue Reading
As rapid growth in U.S. shale production grabs headlines and threatens to upend attempts by OPEC to balance oil markets, a more unsung sector of the U.S. industry is also Continue Reading
U.S. could sacrifice economic edge to China if it leaves the Paris climate agreement, state governors tell the White House. File Photo by Stephen Shaver/UPI May 4 (UPI) — There’s Continue Reading
U.S. refiners are flooding the market with gasoline, intensifying oil prices’ spring decline. Refiners are turning crude oil into gasoline and diesel at the highest rate in at least 34 Continue Reading
Preliminary Monthly Electric Generator Inventory Republished May 4, 2017, 4:30 p.m. to clarify that utility-scale solar plants make up 2% of electricity generating capacity, not 2% of utility-scale electricity generation. Continue Reading
