Oil slipped for a fourth day after an industry report pointed to a bigger-than-expected increase in U.S. crude stockpiles before a fractured OPEC+ gathers on Thursday to deliberate on its Continue Reading
Oil fell the most in two weeks as tensions between OPEC members heightened the uncertainty of the group delaying its planned output increase. Futures fell 1.7% in New York as Continue Reading
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 4.146 million barrels for the week ending November 27. Analysts had predicted an inventory draw Continue Reading
Exxon Mobil Corp.’s impending writedown of natural gas fields rounds out a record year for Big Oil chargeoffs stemming from misplaced optimism on the future of fossil fuels. The five Western Continue Reading
The economic and industrial turmoil created by the novel coronavirus pandemic will forever be associated with the year 2020, but its impact will be much farther reaching and longer lasting Continue Reading
Global carbon capture and storage facility capacity increased by 33% in 2020 and 12 new commercial projects were added in the Americas, bringing that total to 38 operating facilities, which Continue Reading
If OPEC+ increases its production as planned from January, the world will have to face a new 200+ million barrel surplus through May, Rystad Energy calculates. If OPEC+ increases its Continue Reading
OPEC and its Russian-led partners have postponed a meeting until Thursday. The arrival of a vaccine is a blessing for oil producers. Hopes for a vaccine, however, are causing a Continue Reading
OPEC is hoping a couple of days away from the market’s glare will allow cooler heads to prevail and rescue a deal to extend production cuts that analysts say is Continue Reading
Highlights Ministers hope to regroup by Dec. 3 meeting Saudi Arabia favors 3-month extension of oil cuts UAE wants tighter enforcement of quotas London — OPEC is hoping a couple Continue Reading
