LONDON – Oil jumped by almost 10% on Monday for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine candidate and Saudi Arabia said an OPEC+ oil output deal could …
NEW YORK – Oil prices rebounded on Tuesday as robust data from China offset returning supply in other regions but gains were limited due to forecasts for a slow recovery in global oil demand as coronavirus cases rise.
Brent …
RarePetro
Oil & Gas 360 Publishers Note: This is an outstanding piece from Kevin about world oil costs and what the countries need to make in order to keep up with their social programs. We have been covering this topic, …
RarePetro
Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any …
LONDON – Oil fell by more than 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.
The …
From CNBC
Qatar will lose its title as the world’s largest exporter of liquefied natural gas (LNG) within the next year, as Australia ramps up production on a slew of multi-billion dollar export projects.
“Australia and Qatar continued to jostle …
From Reuters
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.
International benchmark Brent crude settled …
From Reuters
Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.
During the session, Brent traded …
From Reuters
Oil prices have continued to drift lower after plunging last week, highlighting the risk for traders trying to exploit mean-reversion strategies by buying futures contracts after a sharp fall in prices.
Front-month Brent futures prices tumbled by more …
From Reuters
Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook and concerns over the safety of oil transport around the Strait of Hormuz threatened supply.
Brent crude futures …
EIA: U.S. shale output to keep rising until peak after 2030
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From Reuters
Oil prices fell on Wednesday on worries that global supply is climbing after U.S. inventories rose unexpectedly and Saudi Arabia and other big producers signaled that they may increase output.
U.S. crude inventories rose 2.1 million barrels in …
The International Energy Agency (IEA) released its monthly Oil Market Report today, outlining the group’s analysis of the overall oil market.
In March 2018, OECD stocks declined by 27 million barrels to …
The EIA’s Jeff Barron joined the EnerCom Dallas conference last week, both as an attendee and as a presenter. At lunch time Thursday he laid down a detailed, analytical presentation that spoke volumes to the analysts, institutional investment officers and …
TransCanada Corporation (ticker: TRP) has a new $2.4 billion NGTL system expansion coming on-line within four years. The NGTL moves gas from the …
From Morningstar
Crude fundamentals look healthier than they’ve been for years, largely due to voluntary curtailments from OPEC and its partners. By giving up 1.8 million barrels per day (mmb/d), combined, …
International oil prices are contingent upon both the worldwide growth in oil production and the worldwide growth in oil inventories. Understanding the balance of these movements, and interpreting those movement is undertaken by the Energy Information Agency (EIA) and the …
So far in 2017 a number of global energy experts and commodities watchers have looked beyond the current reporting period and they see a growing …
Investors’ preference for projects with fast returns could spell trouble for future supply, warn oil traders and service executives. Many of these short-cycle projects involve U.S. shale operations, but with demand continuing to …
Oil prices leapt over $50 per barrel following OPEC’s agreement to cut production last week, and they could be …
The International Energy Agency sees supply and demand coming into balance during the third quarter of the year, according to its August Oil Market Report.…
They say history repeats itself, and given the cyclical nature of the oil and gas business, many look to the past when trying to guess what is coming next, …
The global glut of oil is shrinking, and the oil surplus is smaller than it was believed to be a month ago, according to the IEA’s June Oil Market Report…
The OPEC Monthly Oil Market Report released Monday shows the group expects oil markets to balance out in the second half of this year. Unplanned supply outages …
Production outside of OPEC has started to show more significant signs of rolling over recently, with U.S. production falling below 9.0 MMBOPD for the first time since 2014. Global oil supplies fell 0.3 MMBOPD in March to 96.1 MMBOPD, …
In its March Oil Market Report, OPEC said it is now forecasting weaker demand for its own crude for 2016. The group revised demand expectations for oil …
Oil prices continued their gains today as a report from the IEA indicated that prices may have finally bottomed out, and are beginning to …
Both U.S. benchmark WTI and international benchmark Brent crude oils rose above the $32 mark today as new hope for a supply deal emerged. Iraqi Oil Minister …
In its first Oil Market Report of the year, the International Energy Agency painted a pessimistic picture for the outlook of oil prices. Even as the IEA expects …
