06/07/2015
LONDON: Benchmark crude oil prices have barely moved for more than two months, implying the market has found a temporary equilibrium after the enormous price shock in the second half of 2014 and early 2015. Over the last 30 trading days, the range b..
06/07/2015
Refiners in South Korea, the world’s fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates to catch strong processing margins. With the Or..
06/07/2015
Saudi Arabia is the biggest oil exporter in the world. However, this status may be threatened as a result of domestic oil consumption. Several recent studies predict that Saudi Arabia will be a net oil importer by 2030 or 2038. Other regional ene..
06/07/2015
When we first started getting substantial oil from fracking and horizontal drilling, the news about costs indicated that oil production would decline at a fast rate when prices were low, pushing prices back up. New data, however, argue for rising pro..
03/07/2015
Scott Weeden, Senior Editor, Drilling Fewer wells are being drilled, yet oil and gas production remains at very high levels, with natural gas and crude oil storage heading for record volumes. Operators continue to push for even greater cost reductio..
03/07/2015
Mark J. Perry @Mark_J_Perry The Energy Information Administration released monthly oil production today for April and here are some of the highlights of that report: 1. Despite low oil prices that averaged $54.45 per barrel in April, US oil pr..
26/06/2015
Kenneth Rapoza Two things put Brazil’s oil wealth in the public eye again this year. One good. One not so good. First the not so good: Petrobras. The state-owned oil firm is up to its eyeballs in scandal. It’s led to the bankruptcy..
24/06/2015
Weekly CFTC Commitment of Traders Report WTI Crude Oil Futures: Net Speculator Positions CFTC COT data shows speculator’s trimmed oil bets last week WTI Crude Oil Non-Commercial Positions: Futures market traders and large oil speculators de..
24/06/2015
I hope you didn't expect $2 gasoline to last, because it's long gone throughout the country and some states are already well over $3 per gallon again. Oil prices in general have climbed 25% since mid-January, and retail gasoline prices are up 33% ..
24/06/2015
Preliminay estimates from the industry, shows that it expects total investments in oil and gas activity in 2016, including pipeline transportation, to be NOK 184.9 billion. This preliminary estimate is 1.4 per cent higher than the corresponding estim..
23/06/2015
Nicole Friedman In today’s oil market, even the data providers are frustrated with the data. Market watchers have become obsessed in recent weeks with “missing barrels,” or the idea that total supply-and-demand figures from fore..
22/06/2015
Offshore staff LONDON – SOCO International says production from the Te Giac Trang (TGT) field offshore southern Vietnam has averaged nearly 34,000 boe/d so far this year. The figure is slightly below expectations due to drilling ..
22/06/2015
The latest OPEC Monthly Oil Market Report is out. There were no big surprises. (click to enlarge) OPEC crude only production was up 23,000 bpd in May, but that was after April had been revised upward by 110,000 bpd. (click to enlarge) Alm..
19/06/2015
* IEA raises 2015 demand growth forecast by 280,000 bpd * Sees demand growth slowing in second half of 2015 * IEA sees higher 2015 demand growth than OPEC, U.S. govt * Sees OPEC output staying high, lifts non-OPEC supply view * For tabl..
19/06/2015
OPEC’s biggest members are pumping record amounts of crude and this year’s rally in prices is under threat, the International Energy Agency said. Saudi Arabia, Iraq and the United Arab Emirates, accounting for at least 18 pe..
19/06/2015
Oil-importing nations bought the most Iranian crude last month since world powers tightened sanctions on the country three years ago, according to the International Energy Agency. Imports of Iranian crude reached 1.4 million barrels a day in May, up..
15/06/2015
The shale oil boom that turned the U.S. into the world’s largest fuel exporter and brought $3 gasoline back to America’s pumps is grinding to a halt. Crude output from the prolific tight-rock formations such as North Dakota&rsquo..
08/06/2015
The June OPEC meeting should not bring too many surprises, as the cartel’s unofficial leader, Saudi Arabia, will not support production cuts in order to boost falling prices, but will instead focus on preserving its global market share. OPEC&r..
08/06/2015
Anthony Mirhaydari, The Fiscal Times Over the last few weeks, it seems like all of Wall Street has fallen asleep. Or perhaps gone on an early summer vacation. The Dow Jones Industrial Average has settled back toward 18,000, a threshold first crosse..
08/06/2015
Barclays lists what the cartel won’t do and tackles what traders are thinking Members of the Organization of the Exporting Countries are expected to leave their oil-production ceiling unchanged at their semiannual meeting on Friday, but what t..
08/06/2015
The cartel is expected to earn $380 billion selling their oil this year, a $350 billion drop from 2014 Abu Dhabi: Gulf countries are likely to feel the heat of revenue loss if oil production is not slashed at the crucial Organisation of the Petrol..
08/06/2015
Weak global economic growth momentum and a supply glut will cap oil prices at around $60 for the rest of 2015 and into 2016, analysts say. "WTI oil futures will remain range bound at around $60 for the rest of 2015 and will only start trending up ..
08/06/2015
Saudi Arabia, the world’s largest crude exporter, raised July pricing for most crude grades sold to Asia amid signs that demand is growing. Arab Light for buyers in Asia will sell at parity to the regional benchmark, state-owned Saudi Arabia..
08/06/2015
Saudi Arabia’s oil-fueled economic boom is showing signs of losing steam. Official data released last week showed demand for loans growing at the slowest pace since 2011 and the kingdom’s currency reserves plunging for a third month in..
08/06/2015
Gross domestic product is set to expand 2.5 percent this year, the slowest pace since 2009, according to economists’ estimates on Bloomberg. Non-oil GDP growth, which averaged 7 percent between 2000 and 2011, will slow to 4.5 percent in 2015, t..
08/06/2015
Volatile oil prices are expected to finish the year near current levels, even though crude may make another plunge in the second half of 2015, according to a new CNBC Oil Survey. The respondents were uniform in their view that OPEC will take no acti..
08/06/2015
Big US oil majors have ventured into the home of Opec this week to deliver a brutal message to the Middle East-dominated oil cartel: 'Anything you can do we can do better.' Ryan Lance, chief executive of ConocoPhilips, told members of the Organisati..
08/06/2015
Ahead of this week’s OPEC meeting, Saudi Arabian oil minister Ali Al-Naimi has once again been talking up one of his country’s biggest resources: sunshine. Speaking to reporters, he said he thought the most interesting thing in energy ri..
08/06/2015
Nearly a year after oil markets entered a deep downward spiral, unmoored from the $100-a-barrel mark that had anchored them for years, some OPEC members are publicly talking for the first time about a new "fair" price for their crude. Oil ministers ..
08/06/2015
If the West and Iran can sign a comprehensive agreement that leads to the removal of sanctions on Iran, how will OPEC respond to the prospect of a flood of new Iranian oil? The oil majors are all highly interested in jumping into Iran. In Vienna f..
08/06/2015
FREDThe price of WTI crude since the last OPEC meeting. On Friday, OPEC is expected to announce its latest decision regarding oil production. OPEC, or the Organization of Petroleum Exporting Countries, is the 12-member oil cartel — of which ..
06/04/2015
OPEC oil output hits highest since October OPEC oil supply has jumped in March to its highest since October as Iraq's exports rebounded after bad weather and Saudi Arabia pumped at close to record rates, a Reuters survey found, a sign key members ..
23/03/2015
Canadian Refiners Set to Buy More U.S. Oil With Wider Discount (Bloomberg) -- Cheaper North American oil is poised to replace West African and Middle East cargoes at eastern Canadian refineries with U.S. crude prices at the lowest level compared w..
18/03/2015
Oil Prices May Have Further to Fall Production aplenty means cheaper oil for longer Oil bulls got another piece of bad news today from an unlikely source: the Federal Reserve. U.S. crude production has continued to rise in spite of the collapse in ..
17/03/2015
Oil Price Hasn’t Hit Bottom as Surplus Expands, Greenspan Says (Bloomberg) -- The price of crude oil hasn’t reached a bottom yet as production keeps increasing, former Federal Reserve Chairman Alan Greenspan said. The slump in oil..
16/03/2015
Iran is in talks with Asia Buyers About Raising Oil Sales (Bloomberg) -- Iran is in talks with at least three buyers in Asia to sell them more crude if sanctions on the Middle Eastern country are lifted, according to four people with direct knowledg..
12/03/2015
How Big Oil Is Profiting From the Slump by Javier Blas (Bloomberg) -- Europe’s largest oil companies are gaining support from an unlikely source as they confront the industry’s worst slump since the financial crisis: lower oil prices...
11/03/2015
OPEC Seen by Attiyah Keeping Oil Policy Unless Others Cut (Bloomberg) -- The Organization of Petroleum Exporting Countries won’t change policy at its next meeting unless other producers cut first, Qatar’s former energy minist..
11/03/2015
U.S. Shale Oil Growth Slows as Price Crash Idles Drilling Rigs by Daniel Murtaugh (Bloomberg) -- The biggest slowdown in oil drilling on record is showing signs of reining in the U.S. shale boom. U.S. shale oil output is expected to post the slo..
10/03/2015
Pump Prices in U.S. Rise for Third Time Since June in Survey (Bloomberg) -- The average price of regular gasoline at U.S. pumps rose 20.98 cents in the two weeks ending March 6 to $2.5384 a gallon, according to Lundberg Survey Inc. Prices rose for ..
09/03/2015
Storage dearth may drive oil prices to $30 By Myra P. Saefong Full storage capacity may lead 40% oil-price drop SAN FRANCISCO (MarketWatch) — As the U.S. runs out of space to store its glut of crude-oil supplies, prices for the commodi..
08/03/2015
Goldman sees LNG as biggest commodity after crude this year CHOU HUI HONG NEW YORK (Bloomberg) -- Global trade in LNG will exceed $120 billion this year, taking it past iron ore as the most valuable commodity after oil, Goldman Sachs Group In..
06/03/2015
U.S. Set to Be the New Swing Producer Saudi Arabia Setting Up U.S. to be New Swing Oil Producer Just a decade ago, Saudi Arabia maintained unequivocal power over oil prices. As the largest producer in the Organization of the Petroleum Exporting Co..
05/03/2015
US running out of room to store oil; price collapse next? By Jonathan Fahey THE ASSOCIATED PRESS NEW YORK — The U.S. has so much crude, it is running out of places to put it, and that could drive oil and gasoline prices even lower in the co..
04/03/2015
Oil storage in US close to running out: Pro Michelle Fox | @MFoxCNBC U.S. crude posted its first monthly gain since June on Friday, but one expert warned that storage in the United States is filling up quickly, and that could send oil..
03/03/2015
Is oil on the rebound? In the longer-run, we expect the new-normal crude oil price to average below the previous years of US$110 per barrel - at around US$80 per barrel,’’ said Manokaran Mottain(inset right bottom), chief economist, Al..
22/12/2014
Oil Investors Keep Betting Wrong on When Market Will Hit Bottom Investors betting on a rebound in oil prices are nothing if not tenacious. They have poured the most money in more than four years into exchange-traded products that track oil as pric..
19/12/2014
Iraq Could Review Oil-Supply Plans as Price Collapse Deepens Iraq said a collapse in crude oil and the cost of fighting Islamic State militants could force the country to review its plans to boost production, highlighting the risks this year&rsq..
18/12/2014
Russia Sees No Need to Cut Oil Supply With Prices to Stabilize Russia will keep its crude oil output steady next year and plunging prices will stabilize, Energy Minister Alexander Novak said, reiterating comments made almost three weeks ago that nat..
11/12/2014
Oil Price Hit by OPEC Numbers as Saudis Stand Firm on Output Crude took a fresh drubbing yesterday as OPEC reduced its estimate for 2015 demand, Kuwait offered new discounts to Asian customers and the Saudi oil minister questioned the need for an ou..
21/11/2014
Confused OPEC Watchers Are More Divided Than Ever To understand just how contentious next week’s OPEC meeting will be, take a look at the confusion it’s created among professionals paid to predict the outcome. The 20 analysts survey..
20/11/2014
IEA Gets Budapest Offer With Paris Lease Expiring in Two Years The International Energy Agency, the adviser to 29 governments, got an offer to move to Budapest. The lease on its premises in Paris, home since 1974, is due to expire within two years. ..
19/11/2014
Iraq’s Biggest Oil Plant to Reopen After Militants Moved Iraq’s biggest oil refinery at Baiji is set to restart processing in about three months after government troops forced Islamic State armed militants away from the facility. Iraqi ..
18/11/2014
Indonesia Raises Fuel Prices as Jokowi Enacts Key Pledge Indonesian President Joko Widodo raised fuel prices to reduce state energy subsidies, enacting a key election pledge less than a month after taking office to narrow the budget deficit and fr..
13/11/2014
Saudi Arabia Leads OPEC Crude Output Lower Before Meeting OPEC said Saudi Arabia led declines in the group’s oil output last month, weeks before its 12 members meet to decide whether to trim a global supply glut that drove crude prices into a ..
12/11/2014
U.A.E. Concerned That Oil Glut May Curb Exploration, Production The collapse in oil prices may deter investment in exploration and production projects predicated on $100 crude, according to Suhail Al Mazrouei, energy minister of the United Arab Em..
11/11/2014
Kuwait Oil Minister Sees No OPEC Output Cut This Month OPEC won’t cut its collective crude output when it meets this month and global oil prices will stabilize once the surplus is absorbed..
10/11/2014
Aramco Said to Name New Asia Head Amid OPEC’s Share Fight Aramco sold 53.8 percent of its crude to Asian customers, according to its 2013 annual review. Saudi Arabia, the largest oil exporter, is seeking to build crude sales and expand in Asi..
07/11/2014
Green Party blasts new Senate leadership LONDON, Nov. 6 (UPI) -- A U.S. Green Party gubernatorial candidate said Thursday voters pushed the country in the wrong direction, though oil voices said it's time to seize the moment. Midterm election..
06/11/2014
Saudi Flexing Met With Crickets by U.S. Shale Frackers Nov. 4 (Bloomberg) -- Nasdaq Advisory Services Lead Energy Analyst Tamar Essner and Oilprice.com Senior Contributor Dan Dicker discuss the price of oil on “Street Smart.” (Source: Bl..