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Energy / Crude Oil

Sanctions Begin To Bite Into Russian Oil Exports

Mar 27, 2024 at 16:16 | Tsvetana Paraskova

The tightening sanctions on Russia's oil exports are raising freight costs for moving Russian crude and having India scrutinize deliveries to avoid opaque trades. The U.S. upped the ante in…

Oil Moves Down on Inventory Rise

Mar 27, 2024 at 09:38 | Irina Slav

Crude oil prices were in the red today after the Energy Information Administration reported an inventory build of 3.2 million barrels for the week to March 22. This 

Pump Prices Set to Hit $4 a Gallon

Mar 27, 2024 at 08:47 | ZeroHedge

US oil prices have recently jumped above the $80 a barrel mark - the highest level since late 2023, sending worrying signals to the Federal Reserve and overly…

Traders Are Buying Oil At The Fastest Rate Since 2020

Mar 26, 2024 at 14:06 | Irina Slav

After months of skepticism, traders seem to have finally realized that OPEC+ is serious about keeping crude oil supply constrained. Per the latest weekly data from Reuters, as 

Investors Brace for Impact as Crude Markets React to Rising War Risks

Mar 26, 2024 at 09:00 | ZeroHedge

A twin crisis is unfolding for the administration as the Ukrainian military bombs key crude refineries deep within Russian territory with suicide drones. The administration has

Iraq And Iran Will Expedite Development Of Sanctions-Busting Shared Oil Fields

Mar 25, 2024 at 12:38 | Simon Watkins

A key reason why oil prices have remained relatively subdued despite the ongoing Russia-Ukraine and Israel-Hamas wars is that Iran has been producing much more oil than widely known, with…

Is U.S. Shale Production Finally Nearing Its Peak?

Mar 21, 2024 at 10:00 | David Messler

Last October, I published a piece on OilPrice where I discussed the drivers for the rapid expansion of upstream E&P merger activity that…

Trouble in the North Sea? Wood Group Announces Job Cuts

Mar 21, 2024 at 08:46 | City A.M

UK oil major Wood Group is set to cut hundreds of jobs as it prepares to release its 2023 annual results, reports suggest. According to Sky…

StanChart: Oil Demand Set for All-Time High in May

Mar 20, 2024 at 14:47 | Alex Kimani

Crude oil futures have rallied close to a five-month high with concerns about tightening supplies driving up prices in recent days, only coming down to earth on Wednesday and paring…

Big Oil Grows Bolder in Transition Pushback

Mar 20, 2024 at 13:57 | Irina Slav

Until recently, large oil companies tended to stay quiet when governments and activists urged them to accelerate the transition from their products to alternative energy sources. Now, this is changing.…

Oil Supported By Crude, Gasoline Draws

Mar 20, 2024 at 09:44 | Irina Slav

Crude oil prices were trading lower today after the Energy Information Administration reported that U.S. crude oil inventories had shed 2 million barrels in the week to March…

AI Infiltrates Oil Industry To Speed Up Drilling, Cut Costs

Mar 18, 2024 at 10:29 | Irina Slav

Many tech analysts have accused the oil industry of being too slow to adopt new technology. Yet the industry is itself the source of much technological progress in its narrow,…

New Technology Is Fueling America’s Oil Boom

Mar 18, 2024 at 08:41 | Robert Rapier

In mid-December, I wrote here that the U.S. had set a new annual oil production record:   “The U.S. set a…

Why Did Biden Forget To Mention Booming U.S. Oil in State of the Union Speech?

Mar 14, 2024 at 09:59 | Robert Rapier

President Joe Biden delivered the 2024 State of the Union address last Thursday night under what is always one of the most intense spotlights of the year. This…

Bullish Oil & Gas Producers Remain Under-hedged

Mar 14, 2024 at 09:55 | Alex Kimani

Oil prices edged up in Wednesday’s session supported by a decline in U.S. crude inventories, Ukrainian attacks on Russian refineries and signs of strong demand. According to weekly…

Oil Steady as EIA Confirms Crude, Gasoline Draws

Mar 13, 2024 at 09:37 | Irina Slav

The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up.…

Can Nuclear Power “Decarbonize” the Oil and Gas Industry?

Mar 13, 2024 at 09:00 | Felicity Bradstock

Governments and private companies worldwide have been exploring the idea of reducing emissions from oil operations by using nuclear energy. There is increasing pressure for oil and gas firms to…

Biden’s SPR Gamble Sparks Debate Over U.S. Energy Security

Mar 12, 2024 at 09:40 | Robert Rapier

The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher.

OPEC Remains Upbeat About Oil Demand

Mar 12, 2024 at 09:36 | Charles Kennedy

OPEC remains optimistic that the world will see robust oil demand growth this year and next amid improving economies and further upside potential in global economic growth. In its closely-watched…

IEA, OPEC Divergence on Oil Demand Becomes Too Big To Ignore

Mar 12, 2024 at 09:28 | Irina Slav

Ever since the International Energy Agency switched from a pure-play information provider to an advocate of the energy transition, its forecasts about oil demand have shifted to increasingly reflect this…

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