The global oil demand must rise faster to absorb OPEC+'s hike
According to analysts, data and industry sources, the global oil demand growth must accelerate in the coming months, or else, the market may struggle to absorb a planned…
Occidental delays CrownRock output goals, turns to debt reduction
Occidental Petroleum said on Thursday that it would focus on reducing debt and catching-up with production goals promised before a much anticipated expansion of the cash distribution program. The U.S.
Rystad Says Oil Demand is Peaking. Predicts $60 a Barrel by 2027
Global crude oil prices could drop to about $60 per barrel by 2027 as demand growth slows, say oil analysts at Rystad Energy, chopping a third off next year's peak price…
Oil Slips as Trade War Worries Outweigh Iran Sanctions
Oil prices slipped on Friday as concerns over the impact of a global trade war depressed sentiment, although impending U.S. sanctions on Iran and falling Venezuelan output…
Oil Up as U.S. Sanctions on Iran Expected to Tighten Supply
Oil prices rose on Tuesday with revived U.S. sanctions against major crude exporter Iran expected to tighten global supply.Brent crude oil futures were up 75 cents to $74.50 per barrel at 1337 GMT and U.S.
U.S. Pushes Allies to Halt Iran Oil Imports
The United States has told countries to cut off all Iranian oil imports. It is unlikely to offer any exemptions, said a State Department official as the Trump administration…
Oil Steady Near Multi-year Highs as US Drilling Rises
Oil prices steadied below 3-1/2 year highs on Monday as resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran, while rising U.S. drilling…
Oasis Looks Beyond North Dakota to Permian Basin
Oasis Petroleum Inc, the last major oil producer operating exclusively in North Dakota's Bakken shale formation, is heading south to the nation's largest oilfield, pursuing…
Oil Slips on Chinese Demand, Rising U.S. Activity
Oil prices fell on Monday as a slowdown in Chinese refining raised concerns about demand in the world's second-biggest consumer, while an increase in U.S. drilling capacity could deepen a global supply glut.
Macroeconomic Risks for the Oil Industry
The global oil industry now appears to be in the early stages of a cyclical expansion which is likely to see prices rise over the next few years, slowly at first but then accelerating later.
Oil Firm as Signs of Higher Demand Outweigh Worries of Excess
Oil prices edged higher in choppy trading on Friday and were on track for solid weekly gains following positive demand signals and a reported decline in stocks. Brent crude futures…
OPEC Signals Cuts Extension: Kemp
Saudi Arabia’s energy minister has indicated OPEC will extend its current production cuts for at least another six months to the end of 2017 and maybe further. “Based on…
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.
Oil Falls on Oversupply, Vens Plea Falls on Deaf Ears
Venezuela calls for producer meeting to prop up oil prices. Oil fell on Wednesday, hit by improved prospects for U.S. output and a glut in refined products, while analysts…
Saudi Arabia's Oil Reserves: How Big Are They Really? Kemp
"How much oil lies beneath the desert sands of Saudi Arabia and how long will it last before running out?" is a question that has intrigued and confounded oil experts for five decades.
Iraq's Southern Oil Exports Rise in April to 3.364 mln bpd
Iraq exported oil from southern fields at an average rate of 3.364 million barrels per day in April, higher than the March average of 3.286 million, Oil Ministry spokesman Asim Jihad said on Sunday.
Oil Rally is Not Just About Hedge Funds: Kemp
Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts. "Even as oil rallies…
Iraq's Southern Oil Exports Hit Record High in April
Oil exports from southern Iraq have reached a record monthly rate so far in April as OPEC's second-largest producer resumes the supply growth that has added downward pressure on prices.
Oil Prices Regain Ground, but Glut Looms
Brent, WTI on track for strongest March rally in years; OPEC's March production up despite freeze proposal. Oil futures rebounded from early losses on Thursday but the recovery…
Kemp: Arabia Sees Record O&G Drilling as Rest of World Slumps
A record number of rigs are drilling for oil and gas on the Arabian peninsula even as drilling in the rest of the world tumbles in response to low prices. There were almost…
