Oil prices rose about 1 percent on Monday as the United States and China appeared closer to ending a trade war that has slowed global economic growth while OPEC ally Continue Reading
Consider some recent headlines: “World Bank Warns Of Extreme Volatility In Oil Markets”, “International Energy Agency Head: Oil markets are entering an era of unprecedented volatility” and “ Oil prices Continue Reading
Oil traders are taking on an “overly bearish tone,” paying too much attention to Trump’s tweets, macroeconomic fragility and expected U.S. shale growth. “We think more critical and bullish determinants Continue Reading
The U.S. exported a record 3.6 million barrels per day of oil in February. This oil is the result of the American fracking boom — and as a report from Continue Reading
OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their Continue Reading
Libya’s National Oil Corp. has restarted limited production at its giant Sharara oil field, a person familiar with the matter said Monday, following the removal of gunmen who had occupied Continue Reading
Despite strained U.S.-Saudi relations on several fronts, Saudi Arabia’s oil giant Aramco continues to see the U.S. market as strategic and continues with plans to expand the biggest U.S. refinery Continue Reading
Iraq maintained near-record high levels of oil exports in February, with overall sales averaging 3.996 million barrels per day (bpd). The export total includes 3.621 million bpd by the federal Continue Reading
Oil prices rose nearly 2 percent on Monday morning, on trade deal hopes and OPEC supply outages. One of the largest OPEC outages at the moment is the supply disruption Continue Reading
Ratings agency Standard & Poor’s (S&P) on Monday slashed the credit rating for Mexico’s national oil company Petroleos Mexicanos, or Pemex, piling more pressure on the government to tighten up Continue Reading
Opposition leader Juan Guaidó staged a dramatic return to Venezuela on Monday despite government threats to arrest him, energizing the country’s opposition and raising the stakes in the political showdown Continue Reading
Even if you just casually follow global energy news, you can’t help but notice that liquefied natural gas prices (LNG) in Asia keep dropping. Last week, prices for the super-cooled Continue Reading
China will cut billions of dollars in taxes and fees, increase infrastructure investment, and step up lending to small firms as the government boosts stimulus to shore up an economy Continue Reading
China lowered its economic growth target this year to between 6% and 6.5%, bowing to a deepening slowdown that can’t be quickly arrested without aggravating debt levels that are already Continue Reading
Alberta government’s decision to respond to the very low Canadian heavy oil prices with mandatory production cuts of 325,000 bpd has created a division among Canada’s oil industry. The government Continue Reading
U.S. shale drillers are facing a serious problem: Their wells are not producing as much oil and gas as they had anticipated. When facing shareholder scrutiny, shale drillers have countlessly Continue Reading
The U.S. government received bids for about 70 percent of the land it offered at a large oil and gas lease sale in Wyoming last week, held over the protests Continue Reading
Russia plans to speed up oil output cuts this month and by the end of the month it will bring the combined oil production cut level to 228,000 barrels per Continue Reading
Germany will be looking to regulate the controversial Russia-led Nord Stream 2 natural gas pipeline project using its national sovereignty, a senior German energy official said on Monday in comments Continue Reading
Russia will speed up its oil production cuts this month and plans to reach its share of the OPEC/non-OPEC output reduction by end-March or early April, Russian Energy Minister Alexander Continue Reading
Crude oil futures were higher during mid-morning trade in Asia Monday, recovering from Friday’s losses, on improved sentiment following a bullish report on US rig count data. At 10:50 am Singapore Continue Reading
Oil prices rose on Monday, buoyed by output cuts by producer club OPEC and reports that the United States and China are close to a deal to end a bitter Continue Reading
The price of the Brent international crude oil benchmark dipped below two Middle Eastern benchmarks that represent heavier, sour grades, Reuters reports , citing industry sources. Based on light sweet Continue Reading
After the recovery in global oil and gas drilling seen in 2018, this year the pace of drilling growth around the world is set to step up, albeit moderately, analysts Continue Reading
A slight decline in crude loadings is offset by a $4 per barrel increase in price, as Iraq’s output stays near record levels. Loading arms at the terminal for Iraqi Continue Reading
Scores of people are believed dead after a pipeline explosion in southern Nigeria, according to local officials. The Associated Press reported on Saturday that more than 50 people were missing, Continue Reading
The US is discussing emergency aid for Venezuela should the regime of Nicolás Maduro fall, including potential financial assistance alongside official loan programmes from the IMF and other institutions. With Continue Reading
Venezuelan opposition leader Juan Guaidó said he plans to return to his home country on Monday in a high-stakes strategy that directly challenges President Nicolás Maduro’s authority and could end Continue Reading
Venezuela is scrambling to find buyers for its oil, hoping to keep revenue streams alive even as Maduro loses control of Citgo. The U.S.-based subsidiary of PDVSA officially severed ties Continue Reading
China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other Continue Reading
The United States and China appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on Continue Reading
President Xi Jinping, battling a persistent downturn in China’s economy, is trying to gird his rule by demanding absolute loyalty from the Communist Party in an effort to stifle simmering Continue Reading
More than 90 percent of U.S. coal-fired power plants that are required to monitor groundwater near their coal ash dumps show unsafe levels of toxic metals, according to a study Continue Reading
Shale companies’ strategy to supercharge oil and gas production by drilling thousands of new wells more closely together is turning out to be a bust. What’s more, the approach is Continue Reading
China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other Continue Reading
Proposals to tax greenhouse gas emissions have been attacked by the head of the US oil refinery trade group even though the idea has support from some of his largest Continue Reading
The oil industry is kind of stuck between a rock and a hard place. Investors are growing impatient with even the largest oil companies, as the FT reported. In the Continue Reading
The U.S. shale revolution helped avert a “major, major energy chaos” in the world, OPEC’s Secretary General Mohammed Barkindo said in a somewhat puzzling interview with CNBC this week. Barkindo Continue Reading
A weaker-than-expected US manufacturing report halted an early-session crude oil price rally and swung futures into negative territory in midmorning trading Friday. Receive daily email alerts, subscriber notes & personalize Continue Reading
Oil prices settled down about 2 percent on Friday, ending around 3 percent lower on the week as concerns over global demand growth after weak U.S. manufacturing data overshadowed OPEC-led Continue Reading
Oil prices have had the strongest start to the year in recorded history, but economic data looks set to put an end to that rally. Oil was down a few Continue Reading
OPEC’s production dropped to a four-year low in February, helped by Saudi Arabia and its Arab Gulf allies overachieving in their shares of the cuts, the monthly Reuters survey showed Continue Reading
OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter, Saudi Arabia and its Gulf allies over-delivered on the group’s supply pact while Continue Reading
Shell is facing prosecution from the Dutch authorities over its acquisition of an offshore oil and gas block in Nigeria a few years ago, Reuters reports. The Anglo-Dutch supermajor is already Continue Reading
Petroleum products imports into Nigeria, slumped as just one of the 26 vessels expected into the Lagos ports between now and March 11, is conveying premium motor spirit (PMS). Latest Continue Reading
Mexico Pacific Limited is pursuing a mid-scale LNG export project in Mexico’s Sonora state. Mexico Pacific Limited (MPL) has awarded KBR, Inc. a pre-front end engineering design (pre-FEED) contract for Continue Reading
Russian Foreign Minister Sergei Lavrov said on Friday that Moscow was helping Venezuela with supplies of wheat, hours before a Reuters reporter saw a Venezuela-bound cargo ship carrying Russian wheat Continue Reading
Venezuelan President Nicolas Maduro has ordered state oil company PDVSA’s office in Lisbon to be relocated to Moscow, Vice President Delcy Rodriguez said on Friday, a move she said was Continue Reading
China has found massive shale oil reserves in its northern Tianjin municipality, Chinese news agency Xinhua reported on Friday. Two wells at a field have been flowing for more than Continue Reading
The U.S. government kicked off a major sale of oil and gas leases in Wyoming this week after rejecting protests over lands on offer that are considered critical areas for Continue Reading
