Articles by: OilNews

Oil demand to 'rise tentatively' in 2015: IEA

Oil prices may have tumbled over the summer but demand is set to make a modest recovery in 2015, says the International Energy Agency (IEA).

October 14, 2014 - 4:14 am Energy RSS

Oil price drop threatens to hit Russia, Iran harder than sanctions

A drop in global oil prices, driven in part by a boom in U.S. shale oil production, is threatening to hit the economies of energy-exporting Russia and Iran harder than Western economic sanctions have done.

October 13, 2014 - 11:05 pm Energy RSS, Politics & Opinions, Regulatory

Oil falls to post-2010 low after forecast

Brent crude fell to a post-2010 low near $86 a barrel after an energy watchdog cut its forecast for demand.

October 13, 2014 - 8:57 pm Energy RSS

Why drop in oil prices has downside for US economy

If you're a driver, a shipper or an airline, low oil prices sure feel nice. But there are downsides to the recent plunge in oil prices — for the oil industry and for the economy. Low fuel prices can help …

October 13, 2014 - 3:54 pm Energy RSS

Oil Slicks for Junk Bond ETFs

The United States Oil Fund (NYSEArca: USO) is off 6.4% in the past month as West Texas Intermediate, the U.S. benchmark oil contract, ominously descents to $80 per barrel. Oil’s slide has wrought havoc …

October 13, 2014 - 1:09 pm Energy RSS

Oil slides $2, lowest since 2010 on Saudi output signal

Brent oil prices fell more than $2 a barrel to less than $88 on Monday, its lowest since 2010, after key Middle East producers signalled they would keep output high even if that meant lower prices. Brent oil prices have …

October 13, 2014 - 12:38 pm Energy RSS

Exclusive: Privately, Saudis tell oil market- get used to lower prices

By Ron Bousso and Joshua Schneyer LONDON/NEW YORK (Reuters) – Saudi Arabia is quietly telling the oil market it would be comfortable with much lower oil prices for an extended period, a sharp shift in policy that may be aimed …

October 13, 2014 - 10:47 am Energy RSS

Paradigm Oil & Gas Reaches 17 Active Wells, Oil Stockpile to Market

Paradigm Oil and Gas, Inc. , a leading service provider to the oil and gas industry with expanding operations in oil and gas production, today announced the activation of 11 new properties following the …

October 13, 2014 - 10:45 am Energy RSS

Oil falls on Kuwait, Saudi signals, but Chinese data lends support

SINGAPORE/SEOUL (Reuters) – Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled a willingness to bear with lower prices to defend market share, although better-than-expected trade data from China pared the losses. Contrary …

October 13, 2014 - 10:08 am Energy RSS, Politics & Opinions

Oil refineries lower inputs as they undertake seasonal maintenance

U.S. crude oil refinery inputs averaged 15.6 million bpd (barrels per day) during the week ending October 3. Input levels were 135,000 bpd fewer than the previous week’s average.

October 13, 2014 - 9:00 am Energy RSS

Oil Bear Market Strains OPEC Unity as Venezuela Seeks Meeting

Oil ministers from Kuwait and Algeria dismissed possible production cuts as crude’s slump to a four-year low prompted Venezuela to call for an emergency meeting of the Organization of Petroleum Exporting Countries.

October 13, 2014 - 8:52 am Energy RSS

Oil heads for four-year low on Saudi output signal

Brent crude oil fell below $88 a barrel on Monday, its lowest in almost four years, after key Middle East producers signalled they would keep output high to defend market share even if that meant lower prices. Saudi Arabia has …

October 13, 2014 - 5:13 am Energy RSS

Oil falls more than $1 on Kuwait, Saudi signals; China offsets

SINGAPORE/SEOUL (Reuters) – Global oil futures lost more than a dollar on Monday after Saudi Arabia and Kuwait signalled ample supplies and their willingness to bear lower prices to defend market share, although better than expected trade data from China …

October 12, 2014 - 11:58 pm Energy RSS

Oil slides as OPEC goes hands-off

Oil shed more than a dollar as OPEC indicated it was unlikely to try and boost prices with output cuts.

October 12, 2014 - 10:12 pm Energy RSS