Big international oil companies are currently generating more cash at around-US$50 oil price than they did when the price of oil exceeded US$100 in early 2014, Goldman Sachs reckons. “Simplification, Continue Reading
Oil prices rose Wednesday after U.S. data showed that crude inventories continued to shrink and gasoline demand climbed to a record last week. U.S. crude futures settled up 43 cents, Continue Reading
Oil fell on Wednesday, with rising U.S. fuel inventories pulling U.S. crude back below $50 per barrel, while ongoing high supplies from producer club OPEC weighed on international prices. U.S. Continue Reading
Oil extended its slide below $50 a barrel after an industry report was said to show U.S. crude inventories unexpectedly jumped. Crude stockpiles climbed by 1.78 million barrels last week Continue Reading
(Click to enlarge) (Click to enlarge) (Click to enlarge) Chart of the Week (Click to enlarge) • The EIA published a new report on global oil chokepoints, or narrow channels Continue Reading
The oil majors, by and large, have posted dramatically better financial figures for the second quarter, a sign that their cost reduction efforts are bearing fruit. They are no longer Continue Reading
Peak summer demand and declining levels of supplies, both domestic and foreign, mean spikes in the price of gas for U.S. consumers, market analyses find. Motor club AAA reports a Continue Reading
Last week, crude oil rallied the most so far this year, gaining more than 8 percent, or $4 per barrel. Oil traders are much more optimistic than they were just Continue Reading
SINGAPORE (Reuters) – Oil rose on Tuesday, supported by strong U.S. fuel demand, but ongoing high supplies from producer club OPEC kept prices in check. U.S. West Texas Intermediate (WTI) Continue Reading
BP expects global oil prices to hold within a range of $45-$50 a barrel next year as U.S. shale production grows, the British company’s chief financial officer said on Tuesday. Continue Reading
