Crude Slumps as `Explosive’ Shale Growth Threatens Supply Cuts
U.S. supply rise seen as risk factor in market rebalance: IEA Dollar strength diminishing appeal of oil as value refuge Crude dropped the most in more than two weeks as Continue Reading
Oil Prices Fall After API Reports Crude, Gasoline Build
The American Petroleum Institute (API) reported a build of 933,000 barrels of United States crude oil inventories for the week ending February 23, according to the API data. Analysts had Continue Reading
Oil Demand Strong Into 2020
Oil demand will remain strong through at least 2020, pushing spot costs for crude above futures pricing. That’s the message from Francisco Blanch, Bank of America’s head of commodities and Continue Reading
Fundamentals do not matter to new breed of oil speculator
Investors have built a billion-barrel bet on higher oil prices. But they are a different breed of bull than years past. The “net long” position held by fund managers in Continue Reading
How Oil Trade Is Getting An Efficiency Boost
In the world of growing oil demand, lower oil prices, and increased digitalization, oil traders and oil firms continue to push for efficiency gains—the favorite buzzword during the downturn. Energy Continue Reading
Saudi Arabia Won’t Substantially Raise Output if Agreement Isn’t Extended
Saudi Arabia will not substantially increase its oil output over the next 2-3 years if the OPEC production cut agreement is not extended, say analysts at BMI Research. Saudi Arabia Continue Reading
In Search Of Investors, Saudi Arabia’s Crown Prince Is Coming To America
Mohammed bin Salman bin Abdulaziz al Saud, the Crown Prince of Saudi Arabia, will be leaving his kingdom next month for a three-week charm tour. His agenda hasn’t yet been Continue Reading
OPEC to meet with U.S. shale firms in Houston on Monday: sources
LONDON/HOUSTON (Reuters) – OPEC will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, the latest sign of the producer group widening talks about Continue Reading
Iraq exported more than 100 million barrels of oil last month
Iraqi crude oil sold at a discount of more than $3 per barrel to Brent, the global benchmark, in January, the government reported. File photo by Ali Jasim/UPI Feb. 27 Continue Reading
Saudi Monarch Replaces Military Brass, Launching Defense Revamp
Saudi Arabia’s monarch ordered a far-reaching shake-up of its armed forces to strengthen its military amid a drawn-out war in Yemen and efforts to contain Iran’s influence in the Middle Continue Reading