Oil’s Next Tug Of War
– WTI and brent suffered more losses this week despite two strong excuses to rally. Firstly, EIA data delivered the type of numbers that bulls have been waiting for all Continue Reading
Saudis: OPEC May Discuss Deeper Cuts In November
OPEC and the non-OPEC producers that are part of the production cut deal may consider deepening the output cuts at the cartel’s next meeting in Vienna in November, Saudi Arabia’s Continue Reading
BPTT Makes 2 ‘Significant’ Gas Discoveries Offshore Trinidad
BP Trinidad & Tobago makes 2 ‘significant’ gas discoveries with the Savannah and Macadamia exploration wells, offshore Trinidad. BP Trinidad & Tobago (bpTT) has made two ‘significant’ gas discoveries with Continue Reading
Pennsylvania pipeline fight could upend international oil flows
Refiners from the Midwest United States are fighting for access to a vital Pennsylvania pipeline – a move that could cripple their East Coast competitors and redraw the map for Continue Reading
Oil in the $50s Is New Reality for CEOs Gathering in Russia
Rising shale production will offset OPEC cuts: Rosneft CEO Unclear how OPEC can phase out its curbs, say BP and Total A crude price in the $50s is the new Continue Reading
Oil Prices Fall As U.S. Rig Count Rises For 20th Straight Week
The number of active oil and gas rigs in the United States rose for the twentieth straight week, Baker Hughes reported on Friday—this time by 8, as drillers in the Continue Reading
Has Permian Productivity Peaked?
The U.S. shale industry might have just received a huge windfall with the nine-month extension of the OPEC cuts. Shale output was already expected to come roaring back this year, Continue Reading
Top Russia Oil Boss Scorns Tesla, Electric Cars as Overrated
Igor Sechin calls Tesla’s valuation, growth plans excessive Electric cars in Europe ‘not as popular as had been expected’ The day after President Donald Trump said the U.S. will exit Continue Reading
Goldman’s Venezuela Bond Trade Wasn’t Reviewed by Top Executives
When a small brokerage firm contacted Goldman Sachs Asset Management last week offering to sell $2.8 billion of deeply discounted Venezuelan bonds, the response was a quick “yes.” Buying the Continue Reading
Oil futures climb 1 percent after U.S. stockpile draw
Oil futures rose on Thursday after slumping to a three-week low the previous session, buoyed by an industry report that showed U.S. crude stockpiles had fallen more than expected. Data Continue Reading