US Drops Eight Oil Rigs This Week
US drillers drop eight rigs this week as crude prices advance. After two weeks of adding oil rigs, the U.S. rig count declined by eight this week, according to data Continue Reading
Report: High Output, Not Pipeline Constraints Hurt Canadian Oil Industry
Canada’s oil industry, most of which is housed in Alberta, has had a tough year, with the discount to WTI falling to record highs before Premier Alberta Notley mandated a Continue Reading
Trump Credits Own ‘Talent’ for Oil Prices
President Donald Trump said OPEC “is essentially a monopoly,” even as he credited his own “talent” for having brought down oil prices. “Four months ago, oil hit $83 a barrel,” Continue Reading
U.S. crude stockpiles flat, products build sharply: EIA
U.S. gasoline and distillate inventories rose sharply last week as refineries ramped up activity, while crude oil stocks were barely changed, the Energy Information Administration said on Friday. FCrude inventories Continue Reading
Shutdown risks delays to U.S. drilling, ethanol, wind initiatives
The partial government shutdown is increasing the chances of delays in U.S. energy initiatives from the release of President Donald Trump’s proposed offshore drilling plan to allowing higher levels of Continue Reading
Crude oil futures slip in Asian trade on bearish oil product data from API
ct inventories from the American Petroleum Institute weighed down on prices. Receive daily email alerts, subscriber notes & personalize your experience. At 10:30 am Singapore time (0230 GMT), ICE March Continue Reading
Oil rises toward $57 on China-U.S. trade talks, OPEC cuts
Oil rose toward $57 a barrel on Friday after China said it would hold talks with the United States to look for solutions to a trade dispute, while signs of Continue Reading
Large Gasoline, Distillates Build Suppresses Oil Prices
The American Petroleum Institute (API) reported a crude oil inventory draw of 4.5 million barrels for the week ending December 28, compared to analyst expectations that we would see a Continue Reading
Oil rises in choppy trade as OPEC supply cuts vie with demand worry
Oil prices rose more than one percent on Thursday in a session of volatile trade, drawing support from signs that Saudi Arabia is cutting crude output but pressured by concerns Continue Reading
Iraq seeks to hold crude oil production at 4.513 mil b/d for six months
Iraq’s oil ministry has said it will seek to hold the country’s crude production at 4.513 million b/d for the next six months, keeping the country in line with the Continue Reading