Will OPEC Cuts Trigger New Wave Of US Shale Oil?
Excess inventories, weakening demand growth, and oil prices some $15 a barrel lower than this time last year left OPEC and its allies little choice but to roll over their Continue Reading
Trade Deal Could Send Oil To $75
While OPEC and its allies successfully reached a deal to extend its production cut quotas into 2020, the oil price response was markedly disappointing, leaving the market to wonder if Continue Reading
The Real Reason Why ExxonMobil Won’t Go Ahead With $53 Billion Iraqi Megaproject
Last week a small news item went largely unnoticed by the international media but it hints at the real – and until now unpublished – reason why ExxonMobil has not Continue Reading
Oil supertanker bound for Syria detained in Gibraltar
Gibraltar said on Thursday it had detained the supertanker Grace 1 on suspicion of carrying crude oil to Syria in what a legal source said may be the first such Continue Reading
Trump administration lays broad legal grounds for military strike on Iran
As it has contemplated military action against Iran, the Trump administration has opened the door to virtually every legal authority it might use to justify an attack, from tying Iran Continue Reading
Is This A Turning Point In Libya’s Civil War?
Libya’s civil war has taken a catastrophic turn, plunging the country even deeper into crisis. An airstrike hit a detention center for migrants on the outskirts of Tripoli, killing at Continue Reading
Iraq hits half-year oil revenue target
Iraq’s oil exports dropped by 3.5 percent between May and June, though nationwide oil sales – of 3.946 million barrels per day (bpd) * – remain near record levels. Halfway Continue Reading
Pemex Pursues Deepwater Oil Despite Pledges To Play It Safe
Mexico’s state oil firm Pemex plans to pursue an ultra-deepwater project in the Gulf of Mexico despite limited resources and despite recent pledges to avoid riskier endeavors in which it Continue Reading
US sanctions Cuba’s state-owned oil company for continuing Venezuelan imports
The US Treasury Department said Wednesday it has sanctioned Cubametales, Cuba’s state-run oil import and export company, for continuing to import crude and other products from Venezuela in exchange for Continue Reading
Rouhani Says Iran Will Begin Enriching Uranium at Higher Level in Days
Iran will “take the next step” on Sunday and begin to enrich uranium beyond the levels specified under its 2015 accord with the United States and other global powers, President Continue Reading