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Breaking News:

Oil Should Stay In Triple Digits: Analyst

Energy / Crude Oil

Libya Declares Force Majeure On Oil Exports

Jul 01, 2022 at 08:10 | Tsvetana Paraskova

Libya’s National Oil Corporation (NOC) declared force majeure on crude exports from its oil terminals amid continued blockades of production and ports, which have severely crippled Libya’s oil exports.…

Analysts Hike Oil Price Forecast As Supply Concerns Intensify  

Jun 30, 2022 at 11:20 | Charles Kennedy

Brent prices are expected to average $106.82 a barrel in 2022, the monthly Reuters poll showed on Thursday—and that’s the highest average oil price forecast in the survey so…

Oil On Course For First Monthly Decline In 8 Months

Jun 30, 2022 at 10:03 | Irina Slav

Oil prices may be heading for their first month of declines since November as fears intensify about the global economy swinging into a recession, in large part because of…

Oil Prices Jump As OPEC+ Confirms 648,000 Bpd Production Hike

Jun 30, 2022 at 08:13 | Julianne Geiger

The OPEC+ meeting ended in a relatively quick fashion on Thursday, agreeing to boost production by 648,000 bpd in August, according to Energy Intel’s Chief OPEC Correspondent, Amena Bakr. The…

The G7 Has Paved The Way For Increased Oil And Gas Spending

Jun 29, 2022 at 10:14 | Irina Slav

Despite repeated commitments to emission reduction and a switch to cleaner energy sources on the part of governments in Europe and North America, oil investment is about to…

Oil Climbs Higher As Nuclear Talks Crumble In Qatar

Jun 29, 2022 at 10:05 | ZeroHedge

High hopes had been placed on the indirect talks set to be held in Qatar starting Tuesday between Iran and the United States, which involved the European Union…

Delayed EIA Inventory Report Shows Crude Draw, Products Build

Jun 29, 2022 at 09:43 | Irina Slav

Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day…

Putin Ally Threatens Strike On Europe’s Largest Oil Hub

Jun 28, 2022 at 11:38 | Charles Kennedy

A Russian politician and former regional military commander has suggested that Europe will "totally croak" if Russia militarily targets Europe's biggest oil hub in the Netherlands.

The Biggest Threat To Brazil’s Oil Boom

Jun 28, 2022 at 11:26 | Matthew Smith

Latin America’s largest economy Brazil is experiencing a massive offshore energy boom which has seen the country overtake Venezuela and Mexico in little…

Will Colombia’s New President Upend Its Oil Industry?

Jun 28, 2022 at 11:20 | Matthew Smith

Leftist candidate Senator Gustavo Petro emerged victorious from Colombia’s June presidential run-off as the strife-torn country’s president elect. On 7 August 2022 Petro…

OPEC Well Completions Dip In 2021

Jun 28, 2022 at 09:38 | Tsvetana Paraskova

The number of completed wells at OPEC producers dipped by 280 compared to 2020 and stood at 1,588 wells completed in 2021. This was the lowest number of well completions…

UAE, Saudi Arabia Pumping Oil Near Limits: Macron

Jun 28, 2022 at 08:29 | Irina Slav

The UAE and Saudi Arabia's oil production is nearing their limit, French President Emmanuel Macron told his U.S. counterpart during the G7 meeting this week. The French president was referring…

Exxon CEO Warns That Consumers Will Pay For Hasty Energy Transition

Jun 27, 2022 at 11:09 | Tsvetana Paraskova

ExxonMobil expects all new cars sold two decades from now to be electric vehicles. But the U.S. supermajor also believes that people will “pay a high price” in…

U.S. Gulf Coast Crude Exports Are Breaking Records

Jun 27, 2022 at 10:46 | Rystad Energy

Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as…

Goldman Sachs: Upside Risk In Oil Is “Tremendously High”

Jun 27, 2022 at 10:08 | Charles Kennedy

Goldman Sachs continues to be very bullish on energy and believes that the upside risk in crude oil and refined products “is tremendously high right now,” Jeffrey Currie, global head…

G7's Oil Price Cap For Russia: Easier Said Than Done

Jun 27, 2022 at 09:14 | Irina Slav

The idea of putting a price cap on Russian oil exports in order to keep the oil flowing but reduce the Kremlin's revenues from it might sound rather exotic at…

U.S. Shale Drillers Begin Re-Fracking Existing Wells

Jun 27, 2022 at 06:27 | Irina Slav

Oil well re-fracking is on the rise in the United States as shale producers seek to boost production without making significant investments in new wells, Reuters has reported. Re-fracking…

U.S. Drillers Add 10 Oil Rigs As Permian Takes The Lead

Jun 24, 2022 at 12:19 | Julianne Geiger

The number of total active drilling rigs in the United States rose by 13 this week, according to new data from Baker Hughes published on Friday. The total rig count…

Economic Uncertainty Could Spark A Drop In Diesel Consumption

Jun 24, 2022 at 10:33 | Alex Kimani

The oil price rally has really cooled down over the past three weeks, with oil prices declining to levels last seen prior to Russia's invasion of Ukraine. A…

Is A Recession Really The Next Big Risk For Oil?

Jun 24, 2022 at 10:25 | Irina Slav

Crude oil is a notoriously inelastic commodity—whatever its price, consumption does not vary greatly. Yet per a notorious industry joke, the only cure for high oil prices is…

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