The International Energy Agency (IEA) is ready to act if “necessary to ensure that markets remain well supplied,” the IEA’s Director for Energy Markets and Security, Keisuke Sadamori, told S&P Continue Reading
WTI Crude prices have recently surged to their highest level in three and a half years—just above $70 a barrel . In theory, that’s higher than the average breakeven costs Continue Reading
BP Chief Executive Bob Dudley expects a flood of U.S. shale and the reopening of OPEC taps to cool the oil market after crude rose above $80 a barrel this Continue Reading
The U.S. oil rig count held steady this week after rising for six weeks in a row even as crude prices soar to multi-year highs, prompting drillers to extract record Continue Reading
There is a lively debate in the world of oil & gas surrounding the concept of peak demand . In essence, this debate centers around the question of when oil Continue Reading
Within a year, world oil consumption will top 100 million barrels of oil per day. Over the same time period, close to 100 million new piston-firing vehicles will be bought Continue Reading
April saw the US produce a record 10,543,000 barrels per day (MBD) of oil, according to data from the American Petroleum Institute. The first four months of this year also Continue Reading
American shale drillers are still spending more money than they are making, even as oil prices rise. Of the top 20 U.S. oil companies that focus mostly on fracking, only Continue Reading
A decade ago, the news that the world’s top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off Continue Reading
U.S. crude oil stockpiles fell last week as exports hit a record high and refinery ramped up output, while gasoline inventories dropped more than expected ahead of the summer driving Continue Reading
