U.S. drillers leave oil rig count unchanged: Baker Hughes
U.S. energy companies left the oil rig count unchanged this week as the rate of growth has slowed over the past month or so with a decline in crude prices Continue Reading
Syncrude Canada to cut August crude deliveries 35 pct after outage: sources
Syncrude Canada on Friday told buyers it would cut crude deliveries in August by about 35 percent after an outage last month at its oil sands site in northern Alberta, Continue Reading
Exxon, Once a ‘Perfect Machine,’ Is Running Dry
Darren Woods spent a year preparing an ambitious plan to return Exxon Mobil Corp. XOM 0.75% to glory. Struggling with laryngitis, the oil giant’s chief executive stepped before a ballroom Continue Reading
Volatile world means volatile oil prices, Russia’s energy minister says
Volatile crude oil prices reflect a volatile geopolitical climate, as well as concerns about global trade tensions, Russia’s energy minister, said Friday. Russian Energy Minister Alexander Novak addressed the price Continue Reading
Russia’s Gazprom approves development of giant northern Kharasavey gas field
London — Russian gas group Gazprom said Friday it was moving ahead with the full-scale development of the giant Kharasavey gas field on the northern Russian Yamal peninsula, as it Continue Reading
Oil falls toward $73 per barrel as supply concerns ease
Oil prices fell more than 1 percent on Friday, set for a second straight week of decline as Libyan ports reopen and amid hopes that Iran will still export some Continue Reading
Oil prices try to claw back on supply fears
Crude oil prices recovered some of the ground lost during Wednesday’s sharp downturn after the IEA warned supplies may be “stretched to the limit.” The price for Brent crude oil Continue Reading
Oil steadies despite IEA warning of spare capacity limits
Oil prices steadied on Thursday after the International Energy Agency’s (IEA) warned that the world’s oil supply cushion “might be stretched to the limit” due to production losses in several Continue Reading
JP Morgan raises oil price outlook, but trims demand-growth forecast
(Reuters) – Investment bank JP Morgan on Friday raised its outlook for oil prices, but lowered its forecast for global crude demand-growth this year amid increasing uncertainty over international trade. Continue Reading
This Oil Price Crash Was Just A Correction
The oil market is “stretched to the limit” despite the fact that OPEC+ agreed to ramp up production following their meeting last month, according to the International Energy Agency. The Continue Reading