Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more Continue Reading
Benchmark North Sea Brent crude oil spot prices averaged $53/barrel (b) in December, a $9/b increase from November. This was the first month since July 2015 in which Brent spot Continue Reading
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good Continue Reading
The U.S. Energy Information Administration expects U.S. crude oil production in 2018 to rise by 300,000 barrels per day (bpd) year-on-year, according to its monthly short term energy outlook released Continue Reading
Debt-laden energy companies that still don’t have a financial escape plan in place are running out of time and willing lenders even after oil doubled from its February lows. Crude Continue Reading
The exploration and production business has been bearing the brunt of slashed investment and reduced budgets in the wake of the oil price crash. Yet, another industry dependent on E&P Continue Reading
The oil industry is expected to boost spending for the first time in three years after slashing almost half a million jobs globally during the downturn, according to industry consultant Continue Reading
The agreement between OPEC and non-cartel oil producers to reduce supply would help draw down the huge global inventory build by the third quarter of this year, S&P Global Platts Continue Reading
OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of Continue Reading
The number of rigs drilling for oil in the U.S. rose by four in the past week to 529, oil-field services company Baker Hughes Inc. said Friday The U.S. oil-rig Continue Reading
