Russia Says Its Oil Production Will Increase After June
As if already preparing for its exit from the OPEC production cut deal that seeks to draw down global inventories of crude oil to rebalance the market, Russian Energy Minister Continue Reading
Russia’s Rosneft Boss Slams U.S. ‘Energy Colonialism’
The United States is using energy as a political weapon and its ‘golden era’ of energy could turn out to be an ‘era of energy colonialism’ for all other market Continue Reading
Russia, OPEC have ‘different understanding of the fair price’ of oil: Putin
Russia and OPEC have divergent views on a “fair price” for oil, but the two sides will continue to cooperate on managing the market, Russian President Vladimir Putin said Thursday. Continue Reading
European gas output to slide by 48 Bcm to just 202 Bcm by 2024: IEA
European gas production — including Norway — is set to fall to just 202 Bcm by 2024, the International Energy Agency said Friday, a drop of some 48 Bcm from Continue Reading
Crude oil stable in consolidation, but outlook bearish
Singapore — Crude oil futures were stable in mid-morning trade Asia Thursday, although the market remained fundamentally bearish, analysts said. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
Another Sign of Economic Worry: Tumbling Oil Prices
A couple of months ago, the bulls ran the oil markets. Now the bears have taken over. Always volatile, oil prices have tumbled more than 20 percent since late April Continue Reading
Oil slumps on U.S. crude stock build, WTI touches January low
Oil prices fell on Wednesday, with West Texas Intermediate crude futures (WTI) dropping to its lowest since January after U.S. crude inventories unexpectedly surged, adding to concerns about slowing global Continue Reading
U.S. crude stocks surge unexpectedly as oil builds across the board: EIA
U.S. crude stockpiles posted another unexpected build last week, sending oil prices 4% lower, while gasoline and distillate inventories grew more than forecast, the Energy Information Administration said on Wednesday. Continue Reading
U.S. Oil Price Enters Bear Market Due to Global-Growth Fears
The U.S. oil price sank into a bear market on Wednesday, falling more than 20% below its April peak, as the global-growth worries gripping financial markets were compounded by fears Continue Reading
US crude oil falls into bear market
US crude oil settled in a bear market on Wednesday and Brent lurched to a six month low after stockpiles of US crude unexpectedly jumped by the most in five Continue Reading