OPEC, Russia Promise More Oil, but Can They Pump Enough?
Saudi Arabia and Russia have promised they will lead OPEC and other big oil producers in a deal this week to boost output and lower prices. What if it isn’t Continue Reading
Russia Gears Up To Boost Oil Production In July
Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in Continue Reading
Oil up on U.S. stocks, Libya ahead of OPEC meeting
Oil prices rose on Wednesday, supported by a drop in U.S. commercial crude inventories and the loss of storage capacity in Libya, with investors cautious ahead of a biannual meeting Continue Reading
Oil Prices Steady After API Reports Crude Draw, Gasoline Build
As oil prices continue to fall, the American Petroleum Institute (API) reported a draw of 3.016 million barrels in crude oil inventories for the week ending June 15, compared to Continue Reading
Goldman: Expect Another Bull Run In Oil
The expected increase in oil production will not leave the market in a situation of oversupply, and in fact, barring no further action, the world could still be short of Continue Reading
Iran rules out OPEC deal as Russia, Saudi push for oil output hike
Iran said on Tuesday OPEC was unlikely to reach a deal on oil output this week, setting the stage for a clash with Saudi Arabia and Russia, which are pushing Continue Reading
Oil Industry Tries to Take the Fracking Boom Global
A BP PLC project deep in Oman’s desert shows how big oil companies are taking hydraulic-fracturing techniques perfected in Texas to the global stage, where they had long struggled. BP’s Continue Reading
Mounting trade fears send waves through global markets
The escalating trade war between Washington and Beijing has jolted investors for the first time in months as a sharp sell-off in Chinese shares on Tuesday started a ripple through Continue Reading
OPEC Confident Global Oil Demand Will Stay Strong
An OPEC technical panel has found that global oil demand is on pace to stay strong in the second half of this year, suggesting that the oil market could comfortably Continue Reading
Keeping OPEC/non-OPEC oil output cuts could lead to severe Q3 market tightness: Novak
Peak summer demand could drain global oil inventories to critical levels if the OPEC/non-OPEC coalition leaves its production cut agreement in place, Russian energy minister Alexander Novak said Tuesday. That Continue Reading