Oil producers may be enjoying oil prices at $65 to $70, but these price levels are likely to encourage even more oversupply from U.S. shale, Fatih Birol, the Executive Director Continue Reading
Oil prices rose for a sixth day on Friday after Russia’s oil minister said that global crude supplies were “not balanced yet,” alleviating market concerns about a wind-down of the Continue Reading
WTI up 4.7% this week even as U.S. oil rig count rises by 10 Brent, WTI closed with biggest weekly gains since October Crude ended the week with a gain Continue Reading
Oil prices hit $70 per barrel for the first time in more than three years on Thursday. The last time Brent traded that high, prices were falling off a cliff Continue Reading
Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some Continue Reading
The number of active oil and gas rigs rose this week, according to Baker Hughes data , increasing by 15 total rigs, bringing the total rigs to 939, which is Continue Reading
Alexander Novak . Reuters reports that Novak might discuss the country’s potential exit from the pact in Oman next week. Russia had vowed to cut output by 300,000 barrels per Continue Reading
Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member’s oil output capacity is near reaching 5 million barrels per day, but the country will remain in full Continue Reading
A heavy explosion at the Nigeria Gas Company pipeline, which crosses the Ugbokodo community near the Warri Refinery, caused chaos in the area, according to emerging reports . The explosion Continue Reading
Kenya has decided to allocate 20 percent of future oil revenues to the communities where crude oil has been discovered, cutting the share from an initial proposal to give local Continue Reading
