Shell continues divestment streak with Irish sale
Shell said it’s past the halfway point in its three-year divestment streak after shedding its stake in a natural gas field off the coast of Ireland. File photo by Brian Continue Reading
Oil Climbs After U.S. Crude Output Forecast Is Cut for Next Year
EIA cuts 2018 production forecast to 9.9 million barrels a day U.S. crude supplies seen dropping 2.45 million barrels: Survey Oil rose the most in more than a week after Continue Reading
Oil Prices Find Support As API Reports Massive Crude Draw
The American Petroleum Institute (API) reported a huge draw of 8.133 million barrels in United States crude oil inventories, compared to analyst’s expectations that this week would see a much Continue Reading
Demand factors push gas prices higher in the U.S.
Demand pressures push retail gasoline prices higher for more than half of the U.S. states, motor club AAA reported. File photo by Ismael Mohamad/UPI. July 11 (UPI) — Though regional Continue Reading
Goldman Sees Risk of Oil Below $40 Without OPEC ‘Shock and Awe’
OPEC needs to “shock and awe” the oil market for prices to gain, according to Goldman Sachs Group Inc. The Organization of Petroleum Exporting Countries must increase output cuts aimed Continue Reading
Goldman: Oil Prices To Fall Below $40 If Shale Doesn’t Slow
That prediction comes from Goldman Sachs, which says that the oil market is searching for a new equilibrium. The investment bank says that it is still too early to tell Continue Reading
EIA World Oil Demand Prediction Drops By 70,000 Barrels
World oil demand growth will fall by 70,000 barrels per day to 1.47 million barrels per day this year, according to a new forecast published by the U.S. Energy Information Continue Reading
Remember Peak Oil? Demand May Top Out Before Supply Does
When Bob Dudley, chief executive officer of British oil giant BP Plc, was asked at a recent conference when oil demand will peak, he had a precise answer: June 2, Continue Reading
Top Oil Traders Sell Bespoke Crude From a Supermarket at Sea
Ships floating off Singapore form distribution center for Asia Oil from U.S. to Africa sold from vessels; grades also blended Start your day with what’s moving markets in Asia. Sign Continue Reading
Shale Investment Booms, But Global Oil Has A Big Problem
The IEA’s World Energy Investment 2017 report predicts a slight increase in oil and gas investment this year, rising by 3 percent. That comes after a plunge of 44 percent Continue Reading