Is Trump’s Offshore Drilling Plan A Disaster?
The Trump administration has had to rein in expectations for offshore oil drilling, with an aggressive sales pitch and boastful rhetoric mostly being met with tepid interest from the oil Continue Reading
Oil markets getting pretty tight, IEA says
It’s possible that the balance between oil supply and demand for the major industrialized economies could slip below the five-year average, the International Energy Agency said Friday. The Organization of Continue Reading
What Happened to the Oil Glut?
A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series Continue Reading
U.S. Rig Count Climbs As Oil Rallies
Baker Hughes reported a 5-rig increase to the number of oil and gas rigs this week. The total number of oil and gas rigs now stands at 1008, which is Continue Reading
Baker Hughes: US Drillers Add Oil Rigs For Second Consecutive Week
US energy companies added oil rigs for a second week in a row. April 13 (Reuters) – U.S. energy companies added oil rigs for a second week in a row, Continue Reading
What Happened to the Oil Glut?
A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series Continue Reading
Are Oil Markets Tightening Too Fast?
The group’s collective output fell by a whopping 201,400 barrels per day in March, compared to a month earlier. It was the largest single-month decline since November and it took Continue Reading
IEA Oil Market Report
Our forecast for global oil demand growth for 2018 is unchanged from last month’s report at 1.5 mb/d. OECD demand in 1Q18 was revised up by 315 kb/d, partly due to cold weather in the Continue Reading
OPEC sees oil markets tighten further even as U.S. shale booms
The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading
OPEC’s Output Fell in March, While U.S. Shale Steamed Ahead
OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel’s agreement to cut production , even as the world’s total oil supply continued to Continue Reading