Russia’s Rosneft Expects $40 Oil In 2018
Russia’s largest oil producer, Rosneft, expects oil prices to average between $40 and $43 per barrel next year, and is preparing for such prices, Rosneft’s CEO Igor Sechin told TV Continue Reading
Oil weakens on fears Irma could dent U.S. demand
Oil prices edged lower on Monday on concerns that Hurricane Irma’s pounding of heavily populated areas of Florida could dent oil demand in the world’s top oil consuming nation. Losses Continue Reading
Oil Is Unlikely To Return To $80
Gail Tverberg is a writer and speaker about energy issues. She is especially known for her work with financial issues associated with peak oil. Prior… (Click to enlarge) Figure 1. Continue Reading
Can WTI Break Out Of The High $40s?
Comparative inventories have fallen dramatically since mid-February yet oil prices languish in the mid-to-upper $40 range. But what will it take for oil prices to break out of the $45 Continue Reading
Bearish Backlash Drives Oil Prices Down
Oil prices collapsed again on Friday as China aims to reduce the capacity of its teapot refineries and Hurricane Irma zeros in on Florida. This dramatic drop in oil prices Continue Reading
Oil Prices Slip Amid Falling U.S. Rig Count
The number of active oil and gas rigs in the United States rose this week by 1 rig. Baker Hughes Rig Count last week was largely unchanged as well, with Continue Reading
Oil Market Tighter After Hurricane Harvey
– Crude oil flat price, spreads, refining margins and product spreads all mean-reverted this week as PADD III refineries came back on line to the tune of roughly 2m bpd Continue Reading
Oil slides as Irma heads for Florida, threatening demand
Oil prices slid on Friday, with U.S. crude down more than 3 percent on worries that commerce and energy demand in Florida and the Southeast would be hit hard as Continue Reading
Oil rising on weak dollar, not output pact: Sechin
The main driver behind rising oil prices is a weaker dollar and not a global effort by producers to curb output, Igor Sechin, chief executive of top Russian oil company Continue Reading
Oil markets mixed on Saudi supply cut, hurricane damage to refineries
Oil markets were mixed on Friday, with Brent crude supported by expectations that Saudi Arabia could cut its October supplies, while U.S. crude was weighed down by refinery outages due Continue Reading