The Biggest Problem Behind The U.S. Shale Boom
U.S. shale production is expected to continue to soar well into the 2020s. And that is a major problem. Over the past decade, U.S. oil production has more than doubled, Continue Reading
Canadian National train derails in Manitoba, leaks oil
A Canadian National Railway Co train derailed early on Saturday in Western Canada, leaking an undetermined volume of crude oil, the company said. Thirty-seven tank cars derailed near St-Lazare, Manitoba. Continue Reading
Russia’s Gazprombank freezes accounts of Venezuela’s PDVSA: source
Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under Continue Reading
Russia’s Gazprombank freezes accounts of Venezuela’s PDVSA: source
Russian lender Gazprombank has decided to freeze the accounts of Venezuelan state oil company PDVSA and halted transactions with the firm to reduce the risk of the bank falling under Continue Reading
Oil rises over 2 percent to 2019 highs on tightening supplies
Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia’s offshore oilfield boosted expectations for tightening supply while progressing U.S.-Sino Continue Reading
US Atlantic Coast refinery issues, Venezuela sanctions help rally oil futures
Unplanned work at Phillips 66’s Bayway, New Jersey, refinery and further sanctions on Venezuela’s oil sector helped rally the oil complex Friday. NYMEX March RBOB settled 6.44 cents higher at Continue Reading
A Big Week For Oil Bulls
Oil prices headed higher on Friday for the fifth day in a row as fears related to U.S.-China trade talks subsided and production cuts continued to make headlines. Oil posted Continue Reading
Big Oil’s Big Issue With Embracing ‘Big Energy
Oil majors increasingly are trying their hand at being alternative-energy minors. Royal Dutch Shell Plc, which traces its roots back to the late 19th century, just bought Greenlots, a California Continue Reading
It’s All Going Wrong Again for OPEC
Even as oil-producing states in OPEC and beyond begin implementing the output cuts they agreed in December, the world’s need for their crude is shrinking further, suggesting that they will Continue Reading
World’s Largest Offshore Oil Field Partially Shut Down
The Safaniyah oil field in Saudi Arabia—the world’s largest—is producing at a reduced capacity after a ship’s anchor cut a main power cable, Reuters reports citing a knowledgeable source. An Continue Reading