Oil Approaches Eight-Week Low on Mounting Surplus
Oil prices fell to the lowest point since early April as traders anticipated growing domestic and global crude supplies. U.S. light, sweet crude for July delivery fell 1.6% to $64.75 Continue Reading
Oil-Industry: How to Survive Under Tapering Oil Demand
Oil producers should not be complacent with burgeoning oil prices. This opinion piece presents the opinions of the author. It does not necessarily reflect the views of Rigzone. The auto-industry Continue Reading
The Oil Trader Tug-Of-War
Despite the recent sell-off, Brent Crude prices continue to be supported by geopolitical events and supply concerns, while the U.S. benchmark WTI Crude has been pressured to the downside by Continue Reading
Hedge funds scale back wagers on higher oil price
Hedge funds appear to be falling out of love with oil, having reined in a record-breaking bet on higher prices, as Opec and Russia discuss raising production ahead of their Continue Reading
Banks Sharply Raise Oil-Price Forecast on Geopolitical Risks
Banks raised their forecasts for oil prices for the eighth month in a row in May, amid escalating geopolitical risks to supply in Iran and Venezuela. Those concerns have already Continue Reading
OPEC’s Dilemma: Demand Destruction Or Production Boost
OPEC and Russia are considering raising oil production in a few weeks’ time, and while much of the focus has (rightly) been on the supply outages in Venezuela and the Continue Reading
OPEC ministers mindful of potential supply-side deficits
Parties to an OPEC-led effort to collaborate on the methods necessary for a healthy market said they were committed to help offset oil production declines. Members of a joint ministerial Continue Reading
Khamenei says Iran set to boost enrichment capacity if nuclear deal founders
Iran’s top leader said on Monday he had ordered preparations to increase uranium enrichment capacity if a nuclear deal with world powers falls apart after the U.S. withdrawal, and he Continue Reading
Iran sees Spain interested in its petrochemicals sector
Italian energy company Saipem may be interested in working in the Iranian energy market despite U.S. sanctions concerns, Iran’s energy ministry reported. Iranian petrochemicals executives meet on the sidelines of Continue Reading
Qatar taps into giant Argentinean shale reserve
Saad Sherida al-Kaabi (R), president & CEO of Qatar Petroleum, signs an agreement with Andrew Swiger, the principal financial officer of Exxon Mobil, for a stake in shale gas in Continue Reading