Eni US will become the first energy company allowed to explore for oil in federal waters off Alaska since 2015 after the Trump administration this week approved a drilling plan Continue Reading
The slow, but steady, gain in oil production expected from the U.S. waters of the Gulf of Mexico shows the region is more stable than shale, a rig analyst said. Continue Reading
Summary Oil demand and supply are both in the process of balancing and peaking. Oil supply will fall before oil demand, creating a period of significantly higher priced oil. OPEC Continue Reading
Crude futures prices fell Thursday as increased global oil production overshadowed news of declining inventories and a prediction of higher global demand. Oil was hit as investors continued to digest news from Wednesday of Continue Reading
Oil prices fell on Thursday on worries about oversupply as the world’s energy watchdog warned that a long-awaited market rebalancing could be delayed due to weak compliance with production cuts Continue Reading
Oil prices made small gains in topsy-turvy trading tied to falling U.S. inventories. Crude storage levels fell by 7.6 million barrels in the week ended Friday, the U.S. Energy Information Continue Reading
Will the world’s appetite for crude oil ever be sated? For decades, it was widely presumed that demand for petroleum would grow steadily in line with the expansion of the Continue Reading
The world is heading towards an oil deficit, if we are to believe recent headlines quoting the chief executive of Saudi Aramco, Amin Nasser. There is simply not enough investment Continue Reading
OPEC said on Wednesday its oil production jumped in June and forecast world demand for its crude will decline next year as rivals pump more, pointing to a market surplus Continue Reading
The Organization of the Petroleum Exporting Countries coordinates the policies of its members by giving each of them a production allocation rather than limiting how much they can export. OPEC Continue Reading
