Venezuela Is Losing Its Best Oil Buyer
Venezuelan president Nicolas Maduro said this week that PdVSA is willing to retaliate against financial sanctions from the U.S. by suspending oil exports to the country, sending crude to Asia Continue Reading
U.S. Vastly Overstates Oil Output Forecasts, MIT Study Suggests
Estimates from EIA exaggerate impact of fracking technology New well output could undershoot EIA forecasts by 10% in 2020 Turns out, America’s decade-long shale boom might just end up being Continue Reading
U.S. drillers add oil rigs for second week in a row: Baker Hughes
U.S. energy companies this week added oil rigs for a second week in a row as crude prices traded near their highest levels since the summer of 2015 as major Continue Reading
Alaska Drilling Dividend
Republicans aren’t advertising it, but a pro-growth bonus in the Senate tax cut bill is that it finally opens up a small part of the Arctic National Wildlife Refuge (ANWR) Continue Reading
Oil Rig Count Rises After OPEC Deal Extension
A day after OPEC extended the already-extended production cut deal to end-2018, oil and gas rigs in the US climbed by 6 . The boost to the number of oil Continue Reading
Oil in mid-$60 per barrel range fair, Russian company says
A price range for crude oil of between $60 and $65 per barrel is a good point on which to base a budget, the head of Russian oil company Lukoil Continue Reading
Danish gas field gets new life after fate questioned
Danish energy company Maersk Oil said Friday it was moving ahead with a $3.3 billion effort to redevelop the offshore Tyra gas field, Denmark’s largest. “Tyra has been a key Continue Reading
Russia Ups Oil Price Forecast For 2018
Russia’s Economy Ministry will increase its forecast for the price of the country’s Urals oil blend for 2018, following the extension of the OPEC/non-OPEC production cut agreement extension, announced yesterday Continue Reading
Lukoil CEO says oil markets won’t overheat
Oil markets will not overheat as they did during a price spike in the last decade as global demand is rising fast and the alliance of OPEC and non-OPEC countries Continue Reading
Oil Prices Rise After OPEC Announces Deal
Oil prices closed higher lower on Thursday after a group of major oil producers agreed to extend supply cuts through the end of next year. Light, sweet crude for January Continue Reading