Is The U.S. Oil Patch A Value Trap?
While the S&P 500 is up 6.49 percent , year to date (YTD), it has not brought any cheers to energy investors. Energy investors continue to see their investment bleed, Continue Reading
Nimble Shale Drillers Outpump Giants, Confounding OPEC Clampdown
Exxon, Pemex oil output fell while Chevron’s grew by just 0.4% Independent, shale-focused drillers pumping double-digit gains The biggest oil explorers in the world are being left in the dust Continue Reading
Oil eases, near weakest since late March on small U.S. stocks decline
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
Oil Rebounds From 6-Week Low on Signs of Easing U.S. Supply Glut
OPEC deepens production cuts in April vs March, survey shows Oil rebounded from a six-week low after a U.S. industry report signaled a supply overhang in the world’s biggest consumer Continue Reading
Big Oil Is Making Enormous Efficiency Gains
Efficiency and costs are the two magic words of the oil industry today. While just a few years ago the top priority was production growth, followed by more production growth, Continue Reading
Saudi Power Struggle Could Destabilize The Entire Middle East
Political instability in Saudi Arabia is growing as King Salman bin Abdulaziz begins to overhaul the Saudi government, putting a long list of family members into positions of influence while Continue Reading
Saudis To Retain Full Control Over Aramco’s Oil After IPO
Saudi Arabia will continue to have full control over the oil wells and production of Aramco, after the much-anticipated initial public offering of around 5 percent of the Saudi oil Continue Reading
Russia resumes oil shipments to Cuba, helps fill Venezuelan breach
Russia has begun shipping large quantities of oil to Cuba for the first time this century, sources said, as supplies to the island from crisis-wracked Venezuela have dwindled. A Russian Continue Reading
PetroVietnam says Venezuela oil project still stalled, hopes to reactivate
PetroVietnam’s joint venture with Venezuela’s state-run oil company PDVSA remains stalled but the Vietnamese company hopes ongoing talks will lead to reactivation of operations, a top executive for the company Continue Reading
Summary of Weekly Petroleum Data for the Week Ending April 28, 2017
U.S. crude oil refinery inputs averaged about 17.2 million barrels per day during the week ending April 28, 2017, 108,000 barrels per day less than the previous week’s average. Refineries Continue Reading
Ohio lawmakers add budget provision that could open state parks to fracking
Ohio legislators took a step toward allowing fracking in state parks, adding a provision in a pending budget that would strip the governor of the ability to control the issuing Continue Reading
Pentagon concerned about lifting offshore drilling moratorium
A letter viewed by Florida lawmakers from the Pentagon said maintaining a moratorium on drilling in parts of the Gulf of Mexico was in the nation’s interest. A letter from Continue Reading
Trump’s Arctic Drill Plan Challenged by Environmental Groups
Environmental groups are challenging President Donald Trump’s attempt to restore oil and gas leasing on more than 125 million acres in the Arctic and Atlantic oceans, arguing that a warming Continue Reading
Russia says its oil cut exceeds level demanded in OPEC-led pact
Russia’s oil production on May 1 was 300,790 barrels per day (bpd) below the level in October, meaning it has cut output by more than was demanded under a pact Continue Reading
Shell Profit Soars as Oil Sector Bounces Back
Royal Dutch Shell PLC Thursday reported a sharp increase in profit in the first quarter, rounding off a bumper set of results for the world’s biggest oil companies as years Continue Reading
Oil Rebounds From 6-Week Low on Signs of Easing U.S. Supply Glut
U.S. crude stockpiles fell 4.16 million barrels last week: API OPEC deepens production cuts in April vs March, survey shows Oil rebounded from a six-week low after a U.S. industry Continue Reading
Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record Continue Reading
Oil Prices Fall As Hedge Funds Throw In The Towel
Oil prices fell on Monday and Tuesday as hedge funds and money managers have started to cut bullish positions in oil in a reaction to quickly growing supply (Click to Continue Reading
Oil Prices Fall Sharply on Output Concerns
Oil prices took some of their biggest losses of the year Tuesday, with concerns about rebounding output from Libya and rising production in the U.S. pushing prices to new lows. Continue Reading
OPEC oil output falls in April but compliance weakens: Reuters survey
Pipelines are seen at the industrial zone at the oil port of Brega, Libya, January 12, 2017. OPEC oil output fell for a fourth straight month in April, a Reuters Continue Reading
Rising U.S. oil production knocks OPEC off course: Kemp
An oil derrick and wind turbines stand above the plains north of Amarillo, Texas, U.S., March 14, 2017. U.S. crude production is surging, complicating OPEC’s efforts to rebalance the oil Continue Reading
U.A.E. Minister Sees ‘Logic’ in Oil-Cuts Extension Beyond June
Output limits are helping re-balance crude market: Al Mazrouei Extension in cuts must be consensus decision, minister says OPEC and allied oil producers should extend their collective production cuts into Continue Reading
Assassins kill North Gas Company deputy DG
Masked gunmen assassinated the deputy director general of the state-run North Gas Company (NGC) Tuesday morning in Kirkuk.Iraq’s northern oil sector has been buffeted by violence in recent years, due Continue Reading
Saudi to Keep Full Control of Reserves, Output After Aramco IPO
Government will still own wells, deputy crown prince says Offering about 5% stake in Aramco’s concession in 2018 Saudi Arabia will retain full ownership of its oil and gas reserves Continue Reading
All Eyes On Saudi Arabia As OPEC Begins To Unravel
Has OPEC failed? That’s the question analysts have begun to ask , approaching the group’s next meeting later this month. When the members gather at their headquarters in Vienna, it Continue Reading
Oil Politics Driving Libya Closer To Failure
A rift has opened between Libya’s U.N.-backed government and its powerful National Oil Corporation (NOC), threatening the fractured country’s political cohesion and its nascent petroleum-industry recovery. On Monday, NOC Chairman Continue Reading
Extension of OPEC/non-OPEC crude oil production cut deal near certain: analysts
The likelihood of OPEC and major non-OPEC producers agreeing to extend their ongoing crude oil output cut is near certain, two prominent analysts said Monday. Related article: OPEC faces challenging Continue Reading
India admits it will miss coal emissions targets
India’s ageing power stations will miss a government deadline to slash their emissions, the country’s power minister has admitted, as he reiterated the country’s longstanding position that the responsibility for Continue Reading
GM Takes $100 Million Charge on Venezuela Operations
General Motors Co. is taking a $100 million charge to write off its operations in troubled Venezuela, where authorities last month unexpectedly seized its production plant on a court order, Continue Reading
Panama Canal to see daily LNG carrier transits within 4 years, says CEO
The number of LNG carrier transiting the Panama Canal could average one a day by 2021 as more US supply comes on stream and targets demand in North Asia, according Continue Reading
Venezuela opposition blocks streets to protest Maduro’s power shakeup
Venezuela’s President Nicolas Maduro speaks during his weekly broadcast ”Los Domingos con Maduro” (The Sundays with Maduro) in Caracas, Venezuela. Miraflores Palace/via Venezuela’s opposition was blocking streets on Tuesday to Continue Reading
What Mexico’s Falling Exports Mean For Oil Prices
Oil prices are unable to get up off the canvas, as signs of global market rebalancing continue to be errant. With the first weekly EIA report of the month on Continue Reading
Oil Traders Idled as China Refiners Fall Foul of Smog Fight
Private refiners denied fuel export quotas so far this year Government seen reining in processors to combat pollution: EA A little over a year ago, China’s fast-growing private fuel makers Continue Reading
Conservationists sue to halt fracking in Ohio’s only national forest
Four conservation groups on Tuesday sued the U.S. Forest Service and Bureau of Land Management in an attempt to halt fracking plans in a portion of Ohio’s only national forest. Continue Reading
U.S. wind power accelerating at near-record pace
An annual report from a wind energy trade group in the United States found the sector is in the midst of extraordinary growth and Texas is leading the way. Tuesday’s Continue Reading
Demand for bigger vehicles spell bigger profits for carmakers
Revenues and profits at carmakers have been boosted by a shift towards larger vehicles as low fuel prices and a flurry of new products convince motorists to ditch traditional saloon Continue Reading
Wind turbines provide 8% of U.S. generating capacity, more than any other renewable source
Preliminary Monthly Electric Generator Inventory Wind generators accounted for 8% of the operating electric generating capacity in the United States in 2016, more than any other renewable technology, including hydroelectricity Continue Reading
Are Gasoline Prices About To Crash? Glut Moves Downstream
U.S. crude oil inventories have finally started to decline, a potentially momentous turning point in the three-year market downturn. Oil storage levels have been climbing relentlessly since the end of Continue Reading
Oil Rises From One-Month Low Before U.S. Crude Inventory Data
Crude stocks likely fell a 4th week as fuels rose: survey OPEC is sure to roll over cuts at May meeting: FGE’s Fesharaki Oil rose from its lowest close in Continue Reading
Oil production cuts: Fool me once…no, make that any number of times
The jawboning of oil prices by the Saudi Arabian/Russian tag team should be wearing off after more than a year of actions that don’t measure up to the words. Oil Continue Reading
Oil Prices Head Lower As Libyan Production Rebounds
Oil prices are heading lower as we jump into the fifth month of the year, amid concerns from a mixed bag of global economic data and increasing exports from Libya. Continue Reading
Oil prices lower on softening China
The steady rise in U.S. exploration and production figures, coupled with a slowing Chinese economy, helped drag crude oil prices lower in early Monday trading. Crude oil prices moved lower Continue Reading
Oil Falls as U.S. Drillers Boost Rigs and Libya Expands Output
U.S. rigs drilling for crude increase for 15th straight week Libya crude output rebounds as Sharara, Feel fields restarted Oil declined as rigs targeting crude in the U.S. rose for Continue Reading
Oil prices inch down on high stocks, weak China factories survey
Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers Continue Reading
The Return Of Bearishness In Oil Markets
The oil bears are gaining leverage over the bulls as confidence in the stability of crude prices continues to wane. Oil prices traded above $50 per barrel for most of Continue Reading
OPEC Deal Extension Could Be Shorter Than 6 Months
OPEC could extend its crude oil production cut agreement by less than six months – the period that is widely assumed to be the logical continuation of the initial deal, Continue Reading
BLOG: Dream On, OPEC – The US Will Never Act Like A Cartel
OPEC Sec Gen says US is outside the global trend of cutting crude production for the sake of market stability, but in reality, tight oil companies made market-driven cuts before Continue Reading
OPEC Deal Backfires: Saudis Lose Market Share To Iran, Iraq
Since the start of OPEC’s production cuts, oil market analysts and experts have been focusing on how U.S. shale would respond to the relatively higher and stable oil prices, possibly Continue Reading
Libya’s oil output hits 760,000 bpd, highest since 2014: NOC
Libya’s oil production has risen above 760,000 barrels per day (bpd), its highest since December 2014, the National Oil Corporation (NOC) said on Monday. Chairman Mustafa Sanalla said in a Continue Reading
Aramco Cuts Asia Oil Pricing as Saudis Seen Losing Market Share
Saudi Arabia lowers pricing for June crude for sale to Asia State-owned Saudi Aramco raises pricing to all other regions Saudi Arabia, the world’s largest crude exporter, cut pricing for Continue Reading