Commodity Pricing

Source: Forbes

What should oil companies do with their cash?

Forbes


After the oil industry’s worst quarter in history, companies are taking a variety of approaches towards their finances, and getting a variety of advice and criticism from the pundits and media. Saudi Aramco’s decision to maintain its dividend has …

Oil price rises on optimism before OPEC+ meeting

Oil price rises on optimism before OPEC+ meeting

Oil&Gas


The group is expected to return 1.5 million barrels per day of production to the market

The price of Brent crude climbed to $45 per barrel as anticipation grows for the meeting of the Organisation of Petroleum Exporting Counries …

August 18, 2020 - 7:04 am Commodity Pricing, Crude Oil News, International, OPEC
Source: nasdaq.com

Shale driller Chaparral Energy files for bankruptcy due to pandemic woes

Reuters


Oklahoma shale driller Chaparral Energy Inc filed for Chapter 11 bankruptcy protection on Sunday, the latest U.S. energy sector casualty in recent months as COVID-19 crushes oil demand.

The company’s assets and liabilities were in the range of $500 …

Source: Reuters

Oil prices inch lower as demand forecasts reduced, supply rises

Reuters


NEW YORK  – Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.

This week, two prominent …

Source: Reuters

OPEC trims 2020 oil demand, sees doubts about 2021 on virus fallout

Reuters


LONDON – World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and there are doubts about next year’s recovery, OPEC forecast on Wednesday, potentially making it harder for the group and its …

Source: CNBC

The coronavirus pandemic is debunking some long-held myths of the energy industry

CNBC


The coronavirus pandemic has exposed some hard truths to the world’s largest oil and gas majors, energy analysts have told CNBC, with many reeling after historic second-quarter losses laid bare the financial frailty of the industry.

“Big Oil” companies,

Source: Reuters

Crude rises 2% after draw in U.S. oil stocks spurs demand hope

Reuters


NEW YORK  – Crude prices rose more than 2% on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic.

Brent crude …

Source: Reuters

U.S. refiners’ biofuel bills soar in oil market slump

Reuters


U.S. oil refiners this quarter are expected to spend the most since at least 2018 to meet U.S. biofuels requirements, further pressuring margins hit by the collapse since March in global prices and demand.

Under renewable fuel legislation originally …

Source: Reuters

Occidental Petroleum to reduce debt before boosting oil output: CEO Hollub

Reuters


Occidental Petroleum expects oil and gas output to dip in the second half of the year and will not boost production until it “significantly” reduces debt, Chief Executive Vicki Hollub said on Tuesday.

The company has been struggling with …

Source: Reuters

Oil gains on U.S. stimulus hopes and demand recovery

Reuters


NEW YORK  – Crude prices rose on Tuesday, underpinned by expectations of U.S. economic stimulus to support the world’s biggest oil consumer as well as a rebound in Asian demand as economies pick up.

Brent crude LCOc1 futures rose …

360 Digital Closing Bell 8-10-2020

360 Digital Closing Bell 8-10-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Column: Refining margins mired between OPEC+ and recession – Kemp

Reuters


LONDON  – Global crude exporters and refiners are locked in a stand-off, as OPEC+ tries to drain excess crude stocks and lift prices and refiners face falling fuel consumption and shrinking margins.

These drops are most evident in the …

360 Digital Closing Bell 8-6-2020

360 Digital Closing Bell 8-6-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Oil prices hover near five-month highs

Reuters


LONDON  – Oil prices hovered near five-month highs on Thursday as support from a weak dollar .DXY and falling U.S. crude inventories counteracted bearish sentiment about fuel demand, pushing the benchmarks in and out of positive territory.

Brent crude …

360 Digital Closing Bell 8-5-2020

360 Digital Closing Bell 8-5-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Oil prices at five-month high on big drop in U.S. crude stocks

Reuters


LONDON – Oil prices rose to their highest since early March on Wednesday on a drop in U.S. crude inventories and the weak dollar, but mounting coronavirus infections weighed on the demand outlook.

Brent crude was up $1.50, or …

360 Digital Closing Bell 8-4-2020

360 Digital Closing Bell 8-4-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: CNBC

Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup

CNBC


Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

U.S. West Texas

August 4, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: CNBC

BP reports second-quarter loss after major write downs, halves dividend

CNBC


Energy giant BP reported a significant loss for the second quarter on Tuesday, after downgrading the value of some of its assets on expectations of lower commodity prices.

Second-quarter underlying replacement cost profit, used as a proxy for net

360 Digital Closing Bell 8-3-2020

360 Digital Closing Bell 8-3-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: CNBC

OPEC+ is facing a ‘very delicate, fragile balancing act’ in the oil market, strategist says

CNBC


OPEC  and its allies need to find a balance between supporting oil prices and keeping U.S. crude production at bay, a strategist told CNBC this week as the oil-producing group starts to roll back supply cuts.

The alliance’s historic …

Source: CNBC

Oil steady as virus fears counter positive factory data

CNBC


Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe …

FILE PHOTO: A well head and drilling rig in the Yarakta oilfield, owned by Irkutsk Oil Company (INK), in the Irkutsk region, Russia, March 11, 2019. REUTERS/Vasily Fedosenko/File Photo

Russia says July oil output in line with OPEC+ deal

Reuters


MOSCOW (Reuters) – Russia’s Energy Ministry said on Sunday that the country’s oil output in July was unchanged from levels seen in June, in line with an OPEC+ agreement.

The ministry added that its level of compliance with the …

August 2, 2020 - 12:59 pm Commodity Pricing, Crude Oil News, International
360 Digital Closing Bell 7-31-2020

360 Digital Closing Bell 7-31-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Reuters

Chevron posts $8.3 billion second-quarter loss on write downs, job cuts

Reuters


HOUSTON  – Chevron Corp (CVX.N) on Friday reported an $8.3 billion loss in the second quarter on asset writedowns from plummeting fuel prices, a forced exit from Venezuela and expenses tied to thousands of jobs cuts.

Multibillion-dollar …

Source: CNBC

Oil prices bounce back from 3-week lows, but economic headwinds loom

CNBC


Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.

Brent crude was up …

360 Digital Closing Bell 7-30-2020

360 Digital Closing Bell 7-30-2020

Michael Tanner hosts the 360 Digital Closing Bell - out every day in your e-mail. The best 8 min summary of the energy markets. There are big names presenting at The Oil & Gas Conference., check it out for

Source: Forbes

Chapter 11 Bankruptcy statistics on U.S. shale patch are not the best barometer to gauge industry’s future

Forbes


The oil and gas industry’s most recent cyclical downturn, triggered by the Covid-19 global pandemic in March, has yet again invited close scrutiny of the U.S. shale industry. At one point, prior to the turn of events, shale was …

Source: Reuters

ConocoPhillips posts worse loss than feared on oil price plunge, shares fall

Reuters


ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9%.

The pandemic brought travel and other businesses …

Source: Reuters

Headache for OPEC as oil market structure signals return of glut

Reuters


SINGAPORE/LONDON  – Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil’s collapse in April and May amid the coronavirus …