North Sea pipeline operator invokes force majeure
The operator of a damaged North Sea crude pipeline has invoked a clause that exempts it from fulfilling contracts, underlining the scale of the damage that has sent oil and Continue Reading
Oil slips as U.S. gasoline stock build overshadows crude draw
Oil prices slipped for a second straight day on Wednesday, as a slump in U.S. crude stockpiles was offset by a larger-than-forecast rise in gasoline inventories and as U.S. crude Continue Reading
World Oil Supply Hits Year High, Boosted by U.S. Shale Surge
The Loma Campaña Vaca Muerta shale oil drilling site in Neuquén, Argentina. Shale producers are roaring back to life, pushing the global oil supply to its highest level in a Continue Reading
OPEC Wakes Up to the Threat of U.S. Shale 2.0
Stronger U.S. output is blunting OPEC’s effort to clear glut Once expected in third quarter ’18, rebalancing now seen later OPEC predicted that global oil markets won’t rebalance until late Continue Reading
U.S. Shale Sends OPEC Deal Back To Square One
True to its perpetually optimistic form, OPEC, which last month for the first time conceded to the threat posed by rising U.S. shale production… sharply raised its demand forecast for Continue Reading
U.S. Shale Output Rises As OPEC Production Falls To 6-Month Low
OPEC’s crude oil production dropped to a six-month low in November, while U.S. and other non-OPEC supply has grown stronger than initially expected this year, which prompted the cartel to Continue Reading
Florida senator moves ahead of White House on offshore drilling plans
Moving ahead of the word of a U.S. offshore drilling program for the Atlantic, a Florida Democrat called on his colleagues to pass legislation to block access. U.S. Sen. Bill Continue Reading
Rising U.S. output threatens global oil market balance in 2018
The global oil market will likely show a surplus in the first half of 2018, as rising U.S. supply offsets OPEC’s discipline in maintaining its production cuts for the whole Continue Reading
Investors pour cash into U.S. shale despite questions on returns
Financiers keep pouring cash into the shale oil sector, providing producers with a path to keep U.S. output rising through the middle of the next decade. The United States is Continue Reading
The ‘Unknown Unknowns’ That Threaten U.S. Shale
Three years after the oil price crash, the U.S. shale patch is on its second growth phase and is expected to continue to increase its production, at least through the Continue Reading