Oil prices hit a two-month high on Monday, lifted by a tightening U.S. crude market and the threat of sanctions against OPEC-member Venezuela. U.S. West Texas Intermediate (WTI) futures briefly Continue Reading
Oil analysts have cut their 2017 crude price forecasts for a sixth straight month in July, citing concerns over compliance with an OPEC-led deal to limit production that could dampen Continue Reading
Short positions tumbled for a fourth week, CFTC data show Net-long position on WTI most bullish in three months Start your day with what’s moving markets in Asia. Sign up Continue Reading
Venezuela is sliding closer and closer toward the brink, and things look as if they’ll get worse, unfortunately, before they improve. A country that boasts the largest proven oilfield in Continue Reading
You wait decades for an existential crisis, then two come along at once. At least that’s how it must feel for OPEC’s beleaguered ministers. In the short term the market Continue Reading
Representatives of some OPEC and non-OPEC nations will meet in Abu Dhabi on Aug. 7-8 to discuss why some of them are falling behind in their pledges to cut production, Continue Reading
OPEC, the once powerful oil cartel, is struggling to hold the line in a make-or-break fight to limit oil production, prop up crippling low prices and prove its relevance. Why? Continue Reading
Iran and Iraq are moving closer to building a pipeline that would export crude oil from the northern Iraqi fields of Kirkuk via Iran, Iranian Oil Minister Bijan Zanganeh said Continue Reading
General view of the Kaaba at the Grand Mosque in Mecca, Saudi Arabia September 9, 2016. Ahmed Jadallah/File Photo DUBAI (Reuters) – Saudi Arabia’s foreign minister called Qatar’s demands for Continue Reading
Mexican national oil company Pemex’s [PEMX.UL] crude output dropped slightly in June compared with the previous month, while exports rose 21 percent, the company said. Pemex produced 2.01 million barrels Continue Reading
More than 50 people were killed in a Boko Haram ambush on an oil exploration team in northeast Nigeria earlier this week, multiple sources told AFP news agency on Thursday, Continue Reading
The Trump administration is considering imposing some U.S. sanctions on Venezuela’s vital oil sector in response to Sunday’s election of a constitutional super-body that Washington has already denounced as a Continue Reading
U.S. government officials are considering stepping up sanctions against Venezuela by targeting its vital oil industry, although an embargo against Venezuelan crude oil imports into the U.S. is off the Continue Reading
CARACAS, Venezuela — President Nicolás Maduro defiantly followed through Sunday with his pledge to hold an internationally condemned election, creating a critical new stage in a long-simmering crisis that could Continue Reading
HOUSTON (Reuters) – Potential U.S. sanctions on sales of light crude to Venezuela’s oil company PDVSA would hamper its already weak refining network while leaving at least one tanker in Continue Reading
Declining renewables and energy storage costs will increasingly squeeze out gas-fired generation in South Australia as early as 2025, a joint research report conducted by Wood Mackenzie and GTM Research Continue Reading
Some American oil producers may be pumping the brakes on new drilling, but as the leading shale players get set to report earnings this week, investors will be watching closely Continue Reading
An Environmental Protection Agency exhibit at the Ronald Reagan Building. (Melina Mara/The Washington Post) Scott Pruitt has repeated a particular line again and again since becoming the head of the Continue Reading
Oil prices moved closer to a two-month high on Friday, closing out the week with some of the strongest gains in 2017. Market sentiment has turned “cautiously optimistic,” as Goldman Continue Reading
Seven months into the OPEC production cut deal, oil prices are not higher than they were at the end of last year, as the stubborn global inventory overhang and rising Continue Reading
It took the oil supermajors quite a while to come to terms with the new oil price realities. The blow from the 2014 price crash was so severe and apparently Continue Reading
Canada’s struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output. Output has fallen in Continue Reading
U.S. coal miners are almost certainly cheering the sharp rise in exports of their product, but their good fortune is mainly the result of Chinese domestic policies that have driven Continue Reading
Russian President Vladimir Putin said Sunday that the U.S. would have to cut 755 diplomats and staff in the country by September in retaliation for impending U.S. sanctions on Moscow. Continue Reading
Royal Dutch Shell is shutting down Europe’s largest refinery after a fire at a high-voltage electricity switch station. The fire at the Pernis refinery in Rotterdam, the Netherlands, started late Continue Reading
Yes, you heard that right, the boss in charge of Europe’s biggest oil company says his next car will be electric. Does this revelation from the CEO at Shell say Continue Reading
Oil prices extended a rally into a sixth day on Friday, hovering near 8-week highs on a decline in U.S. inventories and OPEC’s ongoing efforts to curb production to ease Continue Reading
Oil prices rose every day this week, their best since December, as renewed optimism about falling supply and rising demand refuel a rally. U.S. crude is bumping up against $50 Continue Reading
Back in late May, Saudi Oil Minister Khalid Al-Falih said that ‘exports to the U.S. will drop measurably ‘, as the OPEC Kingpin adjusted its focus to reducing exports to Continue Reading
Physical crude markets are at last showing signs of tightening as record refinery consumption in the United States coincides with a slowdown in oil exports from the Middle East Gulf. Continue Reading
Recent data show that the rebalancing of the oil market is speeding up and if the drawdown trends are sustained, stockpiles will normalize by early 2018, Goldman Sachs said on Continue Reading
Oil prices are on track for the biggest weekly gain so far this year, with Brent solidly above $50 per barrel and WTI not far behind. Shell’s CEO: Oil prices Continue Reading
The largest U.S. energy companies reported robust earnings on Friday, continuing a quarter in which the world’s big oil firms have posted some of their strongest gains since a pronounced Continue Reading
Russia and Iranian agreement involves the potential to tap into Iranian oil fields. The signing of the deal comes as both countries face tighter sanctions pressure from U.S. lawmakers. Image Continue Reading
Republican U.S. lawmakers said on Friday they expected Washington would announce more sanctions on Venezuela if its government proceeds with an effort to elect a legislative body that critics call Continue Reading
The U.S. Treasury Department is ready with tougher sanctions on Venezuela, including crude oil restrictions, but may hold back, an industry report read. On Wednesday, the U.S. Treasury Department sanctioned Continue Reading
Venezuela prepared Friday for a possible showdown between opposition protesters and government forces ahead of a vote that critics decry as a final step toward authoritarian rule in the South Continue Reading
“Down with the dictatorship,” reads graffiti on a Caracas wall Colombia’s President Juan Manuel Santos says his country will not recognise the result of Sunday’s vote in neighbouring Venezuela to Continue Reading
The Trump administration walked an ethical line by using a “bag man” to threaten Alaska’s energy over a healthcare vote, a leader in the U.S. House said. U.S. Sen. Lisa Continue Reading
About half of the population in the state of Kansas could now be drawing energy from wind power as the U.S. sector gains momentum, an industry report showed. A quarterly Continue Reading
The rate of US growth picked up steam but wage growth undershot estimates, underscoring the economy’s recent patchy performance. Gross domestic product climbed at an annualised rate of 2.6 per Continue Reading
The number of active oil rigs in the United States rose this week by 2 rigs showing a growth—albeit a slower one—in oil drilling as US players proceed more cautiously Continue Reading
Total US petroleum deliveries reached an average of more than 20.3 million b/d in June—their highest level for the month since 2007 and a 2.6% increase from June 2016, the Continue Reading
Pennsylvania’s Senate approved a tax reform bill with provisions to tax both natural gas production and consumption in the state. Oil and gas trade associations there strongly criticized the July Continue Reading
Crude oil production in the U.S. will reach an average of 9.9 million barrels a day in 2018, the Energy Information Administration projects in its latest Short-Term Energy Outlook report. Continue Reading
The Trump administration may have to reconsider its proposal from earlier this month to curb biofuel use after a U.S. appeals court in Washington ruled that the Environmental Protection Agency doesn’t have Continue Reading
Tesla Chief Executive Officer Elon Musk said on Friday the Model 3 had over half a million advance reservations as he handed over the first 30 to employee buyers, setting Continue Reading
Exxon Mobil Corp (XOM.N) posted a rare earnings miss on Friday, the only international oil producer to do so last quarter, as production slipped in its African and Canadian operations. Continue Reading
The Vatican says it is shutting off all its fountains, including those in St. Peter’s Square, because of Italy’s drought. Vatican Radio on Monday said the decision is linked with Continue Reading
With its drilling rig on site, a British shale gas explorer said it expects to address offshore production declines with onshore operations by year’s end. Cuadrilla Resources said the drilling Continue Reading
