Oil Prices Chase $60 After a Year of Surging Demand
Increased demand has pulled stockpiles of crude oil out of storage this year, even as U.S. shale producers have pushed weekly production to record highs. Above, an oil refinery in Continue Reading
U.S. oil falls on Keystone restart, doubts about Russia’s resolve
U.S. oil prices fell more than 1 percent on Monday, easing from two-year highs on prospects of higher supply from a planned restart of the Keystone crude pipeline and uncertainty Continue Reading
OPEC’s Clash With U.S. Oil Is Nearing Its Day of Reckoning
Strategy of cartel has helped to deplete half surplus stocks Bolstering prices is emboldening American shale-oil drillers The clash between OPEC and America’s oil industry is reaching a day of Continue Reading
Tough OPEC meeting looms amid specter of oil deficit
OPEC is heading for tougher-than-expected policy talks this week amid concern that its efforts to rebalance the oil market might overshoot by creating a global deficit and spurring a further Continue Reading
OPEC’s Impossible Task
OPEC is on the verge of extending its production cuts for an additional nine months, pushing the deal through the end of 2018. But the determination to keep the cuts Continue Reading
OPEC’s No. 2 Producer Strains to Walk an Oil Pricing Tightrope
Iraq’s hitting a couple of speed bumps as it gears up for 2018 oil sales, after OPEC’s second-largest producer made unprecedented moves to sell one-off cargoes this year in addition Continue Reading
Iraq vetting Kirkuk oil pipeline overhaul options
The Iraqi oil ministry said Monday it was looking at documents related to the reconstruction of a crude oil pipeline extending north from Kirkuk. The ministry’s spokesman, Assim Jihad, said Continue Reading
Ministry envisions new contract model for exploration deals
Iraqi Oil Minister Jabbar al-Luieibi indicated Monday that the country will introduce significant changes to its next round of oil contracts. “The anticipated contracts with international oil companies represent an Continue Reading
Total gets first oil out of giant Libra field offshore Brazil
French supermajor Total said production started at a field off the coast of Brazil using infrastructure that could produce 150,000 barrels of oil per day. From the pre-salt Santos basin Continue Reading
Venezuelan crude imports into LOOP tripled on year: In The LOOP
Imports of Venezuelan crude into the Louisiana Offshore Oil Port have totaled over 7 million barrels from January to November this year, almost three times the 2.5 million barrels in Continue Reading