What’s Behind Oil’s Slow Flash Crash?
Crude oil prices declined forty percent between October 1 and Christmas Day in 2018. The decrease has been variously attributed to the United States’ failure to follow through on its Continue Reading
Solar Investment Plunges Amid Panel Glut
Global spending on solar energy declined by almost a quarter last year to US$130.8 billion, mainly on the back of a regulatory policy overhaul in China that led to an Continue Reading
IEA lowers Q2, Q3 ‘call’ on OPEC crude oil estimates
The International Energy Agency on Friday raised its estimate of the increase in non-OPEC oil supply this year on the back of supply surges from Russia and the US and Continue Reading
OPEC December Production Data
Qatar has left OPEC and is not included in this months report. All Qatar historical data has been removed from all OPEC charts. OPEC 14 production was down by 751,000 Continue Reading
OPEC+ To Hold Extraordinary Meeting On April 17-18 In Vienna
OPEC has decided to hold an extraordinary full ministerial meeting on April 17 in Vienna to discuss the state of the oil market and the production cut deal, while the Continue Reading
US Will Likely Grant Fewer Waivers in May
The United States will likely grant fewer waivers to buyers of Iranian oil when they’re up for renewal in May, according to IHS Markit. The United States will likely grant Continue Reading
Libya Reopens Oil Ports After Prolonged Halt
Libya reopened on Thursday all its oil loading terminals where operations were suspended for nearly a week due to inclement weather, S&P Global Platts reports , quoting a source close Continue Reading
Nigeria Among Top 10 Cheapest Petrol Selling Countries
Nigeria ranks among the top 10 cheapest petrol selling countries in the world, a policy group has revealed in its latest report. In its report released on 15 January, the Continue Reading
U.S. refiners scramble as White House eyes Venezuela sanctions
U.S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further Continue Reading
Venezuelan crude production continued to decline in December
Venezuelan crude oil production continued its steady decline and hit a new low in December with just 1.15 million barrels per day produced, unwillingly contributing to the OPEC agreed on production Continue Reading
China’s CNOOC to double proven reserves, exploration projects by 2025
China’s CNOOC Group said it aims to double its exploration projects and proven oil and gas reserves in seven years, the company said on Friday via its official Wechat account. Continue Reading
U.S. Debates Lifting China Tariffs to Hasten Trade Deal, Calm Markets
Related The debate is occurring as trade officials try to figure out the best way to pry concessions from China . It hasn’t yet reached President Trump, and the outcome Continue Reading
China’s fourth-quarter GDP: five things to watch
There is rising concern among global investors that a Chinese growth slowdown will drag down the world economy. If reported growth on Monday comes in below expectations, the news could Continue Reading
Analysis: China’s oil sector to wallow in uncertainty in the Year of the Pig
Decelerating economy single largest risk to Chinese oil sector Trade war, IMO2020 and refining overcapacity also major issues Oil demand growth slows to 3.4% in 2019 versus 4.6% in 2018: Continue Reading
EIA sees fuel prices below 2018 average for the next two years
The EIA projects U.S. gasoline prices will see a lower average in 2019 and 2020 compared with last year, but in both cases higher than current levels. Photo by Gary Continue Reading
Low Oil Prices Are Not The Only Problem For The Permian
While low oil prices are beginning to slow the growth of U.S. shale , in the years ahead oil and gas drilling could be curtailed by a different problem: a Continue Reading
Extreme Volatility In U.S. Natural Gas Market Is Here To Stay
U.S. natural gas prices continue their rollercoaster ride at the height of the heating season, after extreme volatility gripped the market in the fall amid more-than-a-decade low natural gas inventories Continue Reading
Tesla Starts Test Drives With New Truck Prototype: Report
A truck leasing company has said Tesla had approached with an offer to test drive a new truck prototype whose initial version the luxury EV maker revealed last year. Electrek’s Continue Reading
US Crude Oil Exports Continue to Grow
The US DOI now reports that domestic crude production could surge to 14 MMbpd by 2020. U.S. crude oil exports have soared due to a combination of: rising domestic crude Continue Reading
Fracking in 2018: Another Year of Pretending to Make Money
2018 was the year the oil and gas industry promised that its darling, the shale fracking revolution, would stop focusing on endless production and instead turn a profit for its Continue Reading
Art Berman: Exposing The False Promise Of Shale Oil
Art Berman, geological consultant with over 37 years experience in petroleum exploration and production, returns to the podcast this week to debunk much of the hopium currently surrounding America’s shale Continue Reading
After billion-barrel bonanza, BP goes global with seismic tech
Buoyed by the success of seismic imaging that found an extra billion barrels of oil in the Gulf of Mexico, BP is looking to take its latest technology to Angola Continue Reading
Davos climate obsessions contain clues for policymaking
What are the biggest risks stalking the world today? A cynic might gripe that the list is so depressingly long that it is pointless even to try to choose: populism, Continue Reading
Shell: Clean Energy Advances Too Slow To Meet UN Climate Targets
Clean energy solutions are not moving fast enough to meet the UN targets for curbing the effects of global warming, and alternative energies are unlikely to meet those targets without Continue Reading
Energy Minister: Russia Can’t Cut Oil Production Quickly
Due to weather and geological conditions in the cold Russian winter, Russia cannot cut its oil production too quickly, Energy Minister Alexander Novak said on Thursday, reiterating Moscow’s commitment to Continue Reading
Crude oil futures slide on US refined product data, economic uncertainty
Crude oil futures were lower during Thursday mid-morning trade in Asia amid a build in US refined product stocks and concerns of global economic growth. At 11:00 am Singapore time Continue Reading
Oil prices slip as U.S. crude output nears 12 million bpd
Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge. P U.S. West Texas Intermediate (WTI) Continue Reading
Oil gains with Wall Street, but rising U.S. fuel stocks weigh
Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined Continue Reading
Oil May Never Return To The Triple-Digits
Despite the wild ride of oil prices in 2018—in which gains earlier in the year were wiped out in massive sell-offs in the fourth quarter—energy and banking professionals expect Brent Continue Reading
December production hits all-time high, capping 2018 gains
Iraq’s oil sector ended a record-setting year with its most prolific single month of crude production ever. Overall crude output from fields controlled by both the federal government and the Continue Reading
EIA: OPEC Production To Fall By 1 Million Bpd This Year
The Energy Information Administration expects OPEC’s combined crude oil production this year to be 1 million barrels per day lower than in 2018, when the cartel produced an average 31.92 Continue Reading
Will The U.S. Seek Zero Iranian Oil Exports Once Waivers Expire?
Despite the fact that the U.S. is not looking to grant any waivers to Iranian oil customers when the current ones expire in early May, it shouldn’t be taken for Continue Reading
White House told US refiners Venezuela oil sanctions under consideration: sources
Highlights Trump administration has long resisted oil sector sanctions Citgo, Chevron, PBF, Valero major importers of Venezuelan crude Sanctions on oil flows one of many options being weighed Washington — Continue Reading
Nigeria: Atiku Calls NNPC ‘Mafia Organisation’, Vows to Privatize It
Nigerian presidential hopeful Atiku Abubakar on Wednesday branded the state-run oil company a “mafia organisation” and pledged to privatise it if he is elected. Abubakar said he had tried to Continue Reading
Can Mozambique Avoid The ‘Resource Curse’?
On Monday morning, Mozambican soldiers opened fire to disperse protesters calling for natural gas projects to be suspended until more pressing issues, particularly fundamentalist insurgents, are dealt with. Nonetheless, Mozambique Continue Reading
Trump Takes Aim At Maduro, Threatens Oil Embargo
A week after Venezuelan President Nicolas Maduro was sworn in for a second term in office, the option of a complete oil embargo against Venezuela has been put back on Continue Reading
Fuel inventories build up in Mexico amid crackdown on theft
Fuel continues accumulating at Mexico’s ports and storage terminals, the government and state-run Pemex said on Wednesday, as the government struggles to accelerate deliveries to gas stations via truck instead Continue Reading
China injects record $84bn to boost economy and avoid cash squeeze
China’s central bank injected a record Rmb570bn ($84bn) into the country’s banking system via open market operations on Wednesday in the latest effort to boost liquidity and promote increased lending Continue Reading
China’s growth set to slow to 6.3 percent in 2019, more stimulus seen: Reuters poll
China’s economy is expected to cool further this year as domestic demand weakens and exports are hit by U.S. tariffs, a Reuters poll showed on Thursday, reinforcing views Beijing will Continue Reading
U.S. crude stockpiles fall more than expected in week: EIA
U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecast, the Energy Information Administration said on Wednesday. Crude inventories fell by Continue Reading
Canada’s oil cuts offer lifeline to producers but create new problems
The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming Continue Reading
EPA’s Wheeler says shutdown is delaying new ethanol gasoline rule
A U.S. Environmental Protection Agency rule to allow sales of higher-ethanol blends of gasoline year-round is being delayed by a partial government shutdown, acting Administrator Andrew Wheeler said on Wednesday. Continue Reading
Offshore Spending To Overtake Shale In 2019
Rystad Energy forecasts offshore spending will outgrow spending on onshore shale activities this year. Service companies exposed to the offshore subsea market and the maintenance, modifications and operations (MMO) sector Continue Reading
Can The U.S. Keep Its Nuclear Industry Afloat?
When nuclear energy is still widely seen as one of the most promising solutions to climate change, as well as one of the most efficient replacements for the more traditional Continue Reading
Crude Oil Inventory Draw Fails To Move Market
The Energy Information Administration reported a crude oil inventory decline of 2.7 million barrels for the week to January 11 but the report failed to have any palpable effect on Continue Reading
2019 US Oil Output to Average 12MM Barrels Per Day
U.S. crude oil production will average 12.1 million barrels per day in 2019, according to the EIA’s latest short-term energy outlook. U.S. crude oil production will average 12.1 million barrels Continue Reading
More studies show terrible news for the climate. We should be alarmed. — WP Editorial
ANOTHER DAY, another study showing terrible news for the climate. There is a danger that scientists’ findings are coming so often and sounding so dire that even thoughtful observers will Continue Reading
U.S. Oil Outlook Slammed By Lower Prices
The recent slide in oil prices may finally start impacting U.S. oil production forecasts. The plunge in oil prices in November and December spread gloom around the industry. Comments from Continue Reading
EIA Sees The U.S. Becoming Net Oil Exporter In Q4 2020
Continuously rising U.S. shale production will make the United States a net exporter of crude oil and petroleum products in the fourth quarter of 2020, the EIA said in its Continue Reading
Survey: Canadians Cry Oil Crisis As Pipeline Problem Grows Worse
Sixty percent of Canadians now feel that the country’s oil pipeline capacity has reached crisis levels, according to a new survey from the Angus Reed Institute. Pipeline takeaway capacity has Continue Reading