Oil prices near two-year highs as supply cuts bite
Oil prices eased on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above Continue Reading
Oil prices test new territory amid OPEC chatter
Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent Continue Reading
Brent oil ends above $60 on expected OPEC cut extension
Brent oil closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be Continue Reading
Brent crude tries new trading range as funds stay bullish: Kemp
Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into Continue Reading
Oil market set to move from rebalancing to tightening: Kemp
The oil market is now well into a cyclical upswing and within the next year the narrative about “rebalancing” is likely to be replaced by one about “tightening”. Rebalancing started Continue Reading
Can $60 Oil Last?
Oil prices firmed up in recent weeks, but held back from key resistance points—roughly $60 per barrel for Brent, and around $55 per barrel for WTI. Oil traders were reluctant Continue Reading
Iraq’s Kurds Resume Pumping Oil by Pipeline to Turkish Port
Kurd region exported 264,000 barrels a day before brief halt Latest stoppage came after Iraq retook Kirkuk area from Kurds Oil exports resumed from Iraq’s Kurdish region after halting earlier Continue Reading
UAE to keep cutting oil output to comply with global deal: minister
The United Arab Emirates will continue to reduce its oil output to meet its commitment to a global oil production cut agreement, its Energy Minister Suhail al-Mazroui said. “As part Continue Reading
Iraqi Pipeline Disruption Takes 250,000 Bpd Off The Market
Crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan early on Monday local time, Continue Reading
Violence Ensues Following Kurdistan President Resignation
Kurdistan’s President Masoud Barzani announced his resignation three days before the end of his term in office, with violence erupting against the autonomous region’s parliament, according to tweets from Erbil. Continue Reading
Asian imports of Iranian oil hit highest in six months
Imports of Iranian crude by major buyers in Asia rose in September for a third straight month to their highest since March, boosted by a surge in purchases in China Continue Reading
3 Potential OPEC Deal Killers
The Middle East isn’t yet ready to agree on the future of OPEC’s output reduction deal as the bloc’s November 30 summit approaches, during which the cartel is set to Continue Reading
Oil gives short-term life to African economies, IMF says
The economies of sub-Saharan Africa get some support from oil production in Nigeria and elsewhere, though it flattens out by 2019, the IMF said Monday. The International Monetary Fund said Continue Reading
Exclusive: Chad wants to cut off Glencore’s oil supplies in debt row
Chad is on a collision course with top creditor Glencore as it wants to divert oil from the Swiss trading house to U.S. energy company ExxonMobil from the new year Continue Reading
The Return Of Deepwater Oil
In a historic auction for deepwater oil assets in Brazil, the oil majors showed up on October 27 and bought several offshore blocks, indicating a high level of interest in Continue Reading
U.S. Crude Imports Soar Amid Rising Refinery Output
I’ve been on the road – on walkabout as the Australians would say – for the last four weeks, doing a number of speaking engagements and trips across America. As Continue Reading
China’s Sinopec mulls U.S. oil projects ahead of Trump’s visit: sources
China’s state oil major Sinopec is evaluating two projects in the United States that could boost Gulf Coast crude oil exports and also expand storage facilities in the Caribbean, two Continue Reading
80 Oil Pipeline Companies Off The Hook For Wetlands Damage
Over 80 oil and gas pipeline companies will be exonerated of a lawsuit that claims damage to wetlands via the construction of canals in Louisiana after the Supreme Court decided Continue Reading
You Won’t Guess Who Just Saved America’s Biofuels
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk management, emerging market economic development, and market risk assessment. His… And the latter has one Continue Reading
Record surge in atmospheric CO2 seen in 2016
Emissions from human activities have levelled off but concentrations in the atmosphere continue to grow Concentrations of CO2 in the Earth’s atmosphere surged to a record high in 2016, according Continue Reading
Sanctions Force Rosneft To Shut Down Oil Project
Economic sanctions against Russia have made the offshore Yuzhno-Chernomorsky oil field economically unfeasible, and Rosneft will now suspend exploration in the area for five years, Russian media reported, quoting the Continue Reading
There Was So Much Wind Power In Germany This Weekend, Consumers Got Free Energy
A stormy weekend led to free electricity in Germany as wind generation reached a record, forcing power producers to pay customers the most since Christmas 2012 to use electricity. Power Continue Reading
Climate change fueling disasters, disease in ‘potentially irreversible’ ways, report warns
Climate change significantly imperils public health globally, according to a new report that chronicles the many hazards and symptoms already being seen. The authors describe its manifestations as “unequivocal and Continue Reading
WMO reports GHG concentrations at highest in 800K years
Concentrations of carbon dioxide in the atmosphere surged at a record-breaking speed in 2016 to the highest level in 800,000 years, according to the World Meteorological Organization’s Greenhouse Gas Bulletin Continue Reading
Oil prices rise on expected extension of output cuts
Oil markets rose on Monday, with Brent remaining above $60 per barrel on expectations that an OPEC-led production cut due to expire next March would be extended, although rising exports Continue Reading
Oil Majors Rebound As Breakevens Hit $50 Per Barrel
The earnings reports for the oil majors are widely expected to reveal sharp improvement for the oil industry, finally rebounding after more than three years of low prices. And it Continue Reading
Analysts Raise Oil Price Forecasts
Just a few of months ago, analysts and investment banks slashed their oil price forecasts as OPEC’s production cuts drew down the global oil oversupply slower than initially expected, and Continue Reading
The 4 Factors Driving Next Year’s Oil Markets
With earnings season in full swing, we thought it helpful to outline what we are looking for in oil and gas production and refining company statements and earnings calls. Several Continue Reading
World Crude Oil Supplies per July 2017
In this post I present developments in world crude oil (including condensates) supplies since January 2007 and per July 2017. In this post the world crude oil (inclusive condensates) supplies Continue Reading
‘Transformation Is Happening’: Saudi Aramco’s Chief on Future of Oil
As Saudi Aramco, the Saudi national oil company, prepares for a widely-awaited initial public offering next year, its chief executive, Amin H. Nasser, is at the center of the planning. Continue Reading
Three Crucial Things We Still Don’t Know About the Aramco IPO
Riyadh leaves foreign investors confused about its intentions Finance Minister casts doubt on prospects for overseas sale The financiers and corporate chieftains gathered for Saudi Arabia ’s ‘Davos in the Continue Reading
Iraqi Kurds’ Independence Dreams Dashed as President Steps Down
Masoud Barzani, pictured voting in September’s Kurdistan independence referendum, will continue to play a role in politics without holding any formal position. The resignation is the latest fallout from the Continue Reading
Iraqi Kurds’ Independence Dreams Dashed as President Steps Down
Masoud Barzani, pictured voting in September’s Kurdistan independence referendum, will continue to play a role in politics without holding any formal position. The resignation is the latest fallout from the Continue Reading
Barzani resigns, leaving unstable vacuum
Iraqi Kurdistan fell deeper into political turmoil Sunday as acting President Massoud Barzani announced his resignation and violent protesters stormed the regional Parliament building. In a written statement delivered to Continue Reading
Turns Out, the US Does Have That Iraqi Oil
Before America’s Twitter-loving president made it to the Oval Office, a recurring theme was that the U.S. should have gotten hold of Iraq’s oil after toppling Saddam Hussein. There’s this: Continue Reading
The Biggest Stock Collapse in World History Has No End in Sight
PetroChina, the first $1 trillion company, has sunk since 2007 The oil producer will report third-quarter earnings on Monday It’s going to take more than the biggest stock slump in Continue Reading
Factories across China’s industrial heartland struggle with soaring gas costs
Factories in China’s industrial heartland making everything from steel sheet to tofu and ceramics are struggling with soaring costs or facing closure as they wait for authorities to approve new Continue Reading
Air-Breathing Battery Makes Renewable Power Viable for the Grid
MIT researchers have developed an “air-breathing” flow battery that exhales oxygen, stores power for months, and costs about one-fifth of what current storage batteries cost to run. Air-Breathing Battery To Continue Reading
U.S. oil exports boom, putting infrastructure to the test
Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the Continue Reading
Automakers Build War Chests to Finance a Self-Driving Future
Detroit’s Big Three automakers are showing a new sense of bottom-line discipline as they angle for any advantage in the race with Silicon Valley, and one another, to develop the Continue Reading
US oil floated on cheap money
How much has the US oil industry been inflated, crushed and generally distorted by the Federal Reserve’s monetary force-feeding over the past nine years? According to my probing along the Continue Reading
Statoil will not give up on exploration in Arctic
The chief executive of Norway’s biggest oil company refused to give up on oil exploration in the country’s Arctic despite another disappointing drilling campaign this year. Eldar Saetre, Statoil’s chief Continue Reading
Russia Uses Its Oil Giant, Rosneft, as a Foreign Policy Tool
President Vladimir V. Putin of Russia, right, met with President Nicolás Maduro of Venezuela at the Kremlin this month. Russia is increasingly wielding oil as a geopolitical tool, spreading its Continue Reading
7.5 Billion People — That’s a lot!
As the inimitable Yogi Berra once said, “It’s tough to make predictions, especially about the future.” And indeed it is. Some guesswork is always involved and surprises crop up that Continue Reading
Saudi Rhetoric Sends Oil Prices To Two-Year High
Comments made by Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS), sent Brent crude to its highest in more than two years, to US$59.30 a barrel, Reuters reports . West Continue Reading
Brent oil above $60 level for first time since 2015
Brent crude oil hit $60 a barrel on Friday for the first time in more than two years, in the latest sign the market is tightening after a three-year glut. Continue Reading
Oil up 2 percent, Brent hits $60 per barrel on support for extending curbs
Oil prices jumped about 2 percent on Friday, with global benchmark Brent crude rising above $60 per barrel, on support among the world’s top producers for extending a deal to Continue Reading
Brent Oil Tops $60 for First Time Since 2015 Amid OPEC Optimism
Saudi Arabia backs extension of output-cut deal beyond March Crude futures in New York rise to highest in seven months Brent surged above $60 a barrel for the first time Continue Reading
Exclusive: OPEC’s head says Saudi, Russia statements ‘clear fog’ before November 30 meeting
The fog has been cleared ahead of OPEC’s next policy meeting by Saudi Arabia and Russia declaring their support for extending a global deal to cut oil supplies for another Continue Reading
Here’s Where The OPEC Deal Gets Sticky
Oil prices plunged on May 25 when OPEC and its non-OPEC partners extended their production cut deal through March 2018. At the time, the market had not only expected deeper Continue Reading