OPEC deepened compliance with an oil supply-cutting deal in December due to a further decline in Venezuelan output and extra cuts by Gulf exporters, a Reuters survey found, showing strong Continue Reading
The rise in oil production in Nigeria is a result of peaceful solutions to conflict in action, though pollution is problematic, a British official said. Harriet Thompson, the British Deputy Continue Reading
Libya’s oil revenues nearly tripled in 2017 to US$14 billion as the country managed last year to gradually recover its oil production, reaching 1 million bpd for the first time Continue Reading
It is both the best and worst of times for the current Iraqi oil market. Iraqi oil minister Jabbar al-Luaibi said this week that Iraqi oil fields in the south Continue Reading
Saudi Aramco has cut the price of Arab Light for the U.S. market further for February despite shipping record-low amounts to its biggest customer. U.S. refiners will receive Arab Light Continue Reading
President Nicolas Maduro said on Friday that Venezuela would issue 100 million units of its new oil-backed cryptocurrency in coming days, although it is unclear whether any investors will want Continue Reading
ExxonMobil’s sixth “home run” oil find on the Stabroek block offshore Guyana in less than three years may not only push estimated recoverable reserves notably higher, but could further whittle Continue Reading
$175 is what you’ll pay for gas that’s less than $3 elsewhere Pipeline constraints triggering cold-weather supply scramble Natural gas surged to 60 times the going rate as howling blizzard Continue Reading
U.S. energy companies this week cut oil rigs for the first week in three even though crude prices hovered near their highest level since the spring of 2015. Drillers cut Continue Reading
U.S. crude oil prices have risen above $60 per barrel which should accelerate shale drilling and production in the next few months, provided the price increase is sustained. U.S. crude Continue Reading
