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Breaking News:

U.S. Gasoline Prices Ripe For Volatility

OPEC+ Discussing 1 Million Bpd Output Cut

OPEC+ Discussing 1 Million Bpd Output Cut

Oil prices were trading up…

Energy / Crude Oil

Mixed Data Keeping Oil Markets On Edge

Jun 09, 2023 at 14:34 | Alex Kimani

Oil markets have become highly volatile in the current week as traders try to make sense of a mix of both bullish and bearish drivers. Oil prices rallied mid-week  after…

Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained

Jun 09, 2023 at 09:03 | Tsvetana Paraskova

Oil prices are set to rise later this year and trade in the $70-$100 range over the next three to five years as supply growth remains limited and OPEC+ continues…

Will Trudeau’s Plan To Clean Up Canada’s Oil Sands Work?

Jun 09, 2023 at 08:16 | Felicity Bradstock

Canada has long relied on its oil sands to support its energy security and bring in revenue for the major oil-producing province of Alberta. Oil sands are known as one…

North Sea Oil Investment Needs More Than Just Windfall Tax Relief

Jun 09, 2023 at 07:51 | City A.M

The government needs to do more than ease the windfall tax to reassure troubled North Sea oil and gas companies over the UK’s investment climate and protect future production, warned…

Oil Moves Up Despite Rising Product Inventories

Jun 07, 2023 at 09:40 | Irina Slav

Crude oil prices inched higher today after the Energy Information Administration reported an inventory decline of 500,000 barrels for the week to June 9. This compared with…

Venezuela’s Secret Weapon: A “Dark Fleet” Of Oil Tankers

Jun 07, 2023 at 08:58 | Matthew Smith

Dark fleet is a term used to describe the assortment of tanker vessels which conceal their locations so as to enable the transportation of illicit cargoes of crude…

China Consolidates Grip On Key Oil Transit Routes

Jun 06, 2023 at 14:32 | Simon Watkins

Following the recent slew of major cooperation agreements (including in energy, security, and logistics) between various permutations of…

Traders Aren’t Buying The Oil Deficit Story

Jun 06, 2023 at 14:15 | Irina Slav

Traders are not buying the oil deficit story. That’s the conclusion that forces itself based on the latest oil and fuel buying and selling developments ahead of the latest OPEC+…

Russian Oil Output Remains High Much To OPEC's Dismay

Jun 06, 2023 at 10:59 | Tom Kool

Russian crude oil export data in recent weeks have not reflected any cuts and OPEC+ allies are increasingly frustrated with its non-compliance Russia’s crude oil exports by sea continue to…

Saudi Surprise Cut Signals OPEC+ Crisis

Jun 05, 2023 at 09:42 | Cyril Widdershoven

Following a suspense-filled weekend in Vienna, where OPEC oil ministers attempted to downplay media attention, global oil markets remain uncertain about the direction of oil prices. The recent "surprise" oil…

Oil Majors Keen On Libya’s Untapped Potential

Jun 05, 2023 at 09:20 | Felicity Bradstock

Following the failed Presidential elections of December 2021 and its negative impact on the oil and gas industry, Libya’s oil production started to get back on track in the second…

Mexico’s Energy Conundrum: AMLO’s Nationalization Plans Face Scrutiny

Jun 05, 2023 at 09:10 | Felicity Bradstock

Mexico’s state-owned oil company Pemex has faced challenge after challenge, following scrutiny over its poor safety standards and low production levels and now it’s likely to miss the scheduled launch…

OPEC+ Discussing 1 Million Bpd Output Cut

Jun 02, 2023 at 15:57 | Julianne Geiger

Oil prices were trading up on Friday afternoon as shorters got a little nervous heading into the OPEC+ weekend, with new rumors circulating about the group’s discussions about another 1…

Insurers Signal Fallout From Sanctions On Russia

Jun 02, 2023 at 12:48 | Irina Slav

A year ago, the Financial Times reported how maritime insurers were concerned that sanctions targeting Russian oil exports would disrupt global supply chains, lead to higher prices,…

Trading Crude With A Short Bias

Jun 02, 2023 at 08:10 | Editorial Dept

In the last week of April, I wrote in these pages that even though the chart for crude futures (CL) was flashing a buy signal, fundamental factors had a bearish…

Oil Jumps As EIA Reports Surprise Crude Build

Jun 01, 2023 at 10:12 | Irina Slav

Crude oil prices moved higher moments before the Energy Information Administration reported an inventory build of 4.5 million barrels for the week to May 26. At 459.7 million…

Argentina's Vaca Muerta Shale Play Could Produce 1 Million Bpd In 2030

May 31, 2023 at 11:58 | Rystad Energy

Crude oil production from Argentina’s burgeoning shale patch, Vaca Muerta, could surge in the coming years and top 1 million barrels per day (bpd) by the end of the decade…

Rosneft Q1 Profit Soars As Russian Oil Output Cuts Remain Invisible

May 31, 2023 at 10:35 | Charles Kennedy

Russian state-run oil giant Rosneft saw its first-quarter 2023 net profit rise by over 45% to around $4 billion, beating analyst expectations as production increases despite Moscow’s 500,000…

Goldman And Others Sees Rising Odds Of Another OPEC+ Output Cut

May 31, 2023 at 09:56 | ZeroHedge

If it was Russia's intention to send oil tumbling after its oil minister last week said that OPEC+ has no intentions of cutting production, in the…

Headline-Grabbing Deals Mask Big Drop In Shale M&A

May 31, 2023 at 09:34 | Alex Kimani

Energy markets have been lackluster in the current year, and it appears the malaise and bearishness have spread into the M&A sector. Oil and gas executives have become increasingly hesitant…

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