Oil Rises After OPEC+ Agrees Record Output Cut
Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won't be enough to head off oversupply with the coronavirus pandemic hammering demand.After four days of wrangling…
Oil Majors Rush to Dominate US Shale
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles.Workers at its Remuda lease near Carlsbad - part of a staff of 5…
Oil Lower after U.S. Crude Build
U.S. crude stocks rose last week; dollar, world stocks trim losses after Trump victory speech. Oil fell on Wednesday in choppy trading after weekly data showed another build in U.S. crude inventories, just as the market began to recover…
ex-Soviet Producers: No Cooperation with OPEC
Russia to defend its market share from Saudi oil; Kazakhstan, Azerbaijan face falling output. Ex-Soviet oil producers, led by Russia, are not bowing to pressure to reduce output in order to lift global prices, leaving little chance of…
Lessons From Oil's "lost decade"
Saudi Arabia and its OPEC allies are counting on strong growth in demand coupled with slower growth in non-OPEC supply to rebalance the oil market in 2016. But the experience of the "lost decade" after prices slumped in 1986 suggests…
Oil Prices Tumble: Noise or Fundamentals?
Brent futures prices tumbled more than 6 percent on Monday, a highly unusual move that has raised questions about whether shifting fundamentals will send the market even lower over the coming months. Over the last month, front-month prices have dropped 17 percent…
Oil Heads for $92 on Weak German Data
German industrial output falls more than expected; fall in dollar fails to halt slide. U.S. supply growth and weak global demand weigh on prices. Brent crude oil fell towards $92 a barrel on Tuesday, pushing towards 27-month lows as…
US Grants First Medal on Energy to Oil Historian Yergin
As the U.S. drilling boom helps drive global crude prices to two-year lows, the Obama administration has awarded the country's first medal for energy security to oil historian and business founder Daniel Yergin. Yergin, 67, received…
The History of Offshore Energy
Offshore exploration is a history of man v. Prospecting for oil is a dynamic art. From a lake in Ohio, to piers off the California coast in the early 1900s, to the salt marshes of Louisiana in the 1930s, to the first “out-of-sight- of-land” tower in 1947 in the Gulf of Mexico…
World Petroleum Congress to be held in Moscow
Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries. Dr.
