OPEC

How The Fracking Revolution Broke OPEC's Hold On Oil Prices

In the previous article, Asia’s Insatiable Oil Demand, I covered global and regional oil consumption numbers according to the recently-released 2018 BP Statistical Review of World Energy.<p>To recap, global oil consumption rose to a new record high in 2018, and has now increased in 31 of the past 34 …

Oil

Oil Trades Near $68 as Investors Gauge Trade Tensions and Rigs

Oil traded near $68 a barrel as investors assessed the impact of escalating trade frictions between the world’s two biggest economies against a …

Oil

Russian oil producer Rosneft offers oil price range

The head of Russian oil company Rosneft said that, from his view, the price for Brent crude oil will likely stay below $80 per barrel for the rest of …

Oil

Iran Warns Trump Not to Threaten Country's Oil Exports

Iran’s president warned his U.S. counterpart Donald Trump not to threaten the Persian Gulf nation’s oil exports and called for improved relations …

South Asia

Rosneft budget based on oil price of $63 a barrel -Interfax

© Reuters. Rosneft budget based on oil price of $63 a barrel -Interfax<p>MOSCOW (Reuters) - Russian oil producer Rosneft's (MM:ROSN) budget is based on …

Oil

Imagine a world without OPEC. It isn't paradise

Imagine a world without OPEC. This is what the sponsors of legislation introduced in both houses of Congress seem to want. Versions of the "No Oil …

Oil

Crude Oil Prices - Weekly Outlook: July 23 - 27

© Reuters. Oil prices suffer third weekly decline in a row amid oversupply worries<p>Investing.com - Worries over increased global supply are likely to …

Oil

U.S. crude oil floods into Italy as Libyan supplies falter

HOUSTON, July 20 (Reuters) - Italy’s imports of U.S. crude oil vaulted to a record in June after attacks by armed groups shuttered two major Libyan oil ports and cut off most deliveries from the OPEC country, a key supplier to Europe, according to Thomson Reuters trade flow data and shipping …

Oil

Telegraph logo

US President Donald Trump will be holding a gun to OPEC’s head if legislation is approved to potentially revoke the cartel’s immunity from prosecution in America for monopolistic practices.<p>Republican Senator Chuck Grassley this week introduced the so called ‘No Oil Producing and Exporting Cartels …

Donald Trump

How Could US-China Trade War Impact Crude Oil Prices?

Crude oil had a great start to the year 2018. The commodity touched $80 per barrel for the first time in almost four years on the back of …

Oil

Talk Trump may tap strategic oil reserves raises questions

Reports that President Donald Trump could soon tap the Strategic Petroleum Reserve in a bid to lower gasoline prices have raised concerns the …

Oil

Spend more, oilfield services company Schlumberger pleads

The head of oilfield services company Schlumberger said Friday major investments in exploration and production are needed to counter supply-side …

Oil

Saudi oil exports to drop by about 100,000 barrels per day in August: OPEC governor

DUBAI (Reuters) - Saudi Arabia expects its crude exports to drop by roughly 100,000 barrels per day in August as the world’s top oil exporter works to ensure it does not push oil into the market beyond its customers’ needs, the kingdom’s OPEC governor said on Thursday.<p>FILE PHOTO: The logo of the …

Oil

China probing emerging UAE reserves

July 20 (UPI) -- The state oil company in Abu Dhabi said it signed contracts with a Chinese counterpart to carry out the world's largest surveys for …

Abu Dhabi

U.S. oil prices climb, but end the week lower

U.S. oil prices climbed Friday, extending gains from a day earlier when comments from Saudi Arabia's OPEC governor eased concerns over the potential …

Oil

Iran works to revitalize shared oil field

Iranian contractors are working to offset production declines with new pumping technology at an oil field straddling the border with Iraq, state …

Oil & Gas Industry

Oil under pressure as traders eye inventory levels

Oil futures lost ground Thursday, unable to completely shake off a rise in U.S. crude inventories and a pickup in output by major oil …

Oil

Oil waivers show Trump may have swallowed a dose of reality on Iran

Adding to the heat on Iran, the Israeli intelligence service invited leading American news publications to see some of the treasure trove of …

Oil

Oil slides near $68 as U.S. crude stocks expand, gasoline drops

Image 1of/1<p>Caption<p>Close<p>Oil slipped toward $68 a barrel after mixed U.S. government data sowed uncertainty about the strength of demand in the biggest …

Oil

Looking for Stranded Oil? Start With OPEC

The oil market is weird.<p>Imagine two widget-makers, WidgetKing and Standard Widgets. Their product is generic as can be. Standard Widgets, however, is lucky enough to have its factory built next to a major port and rail terminal, keeping distribution costs low, while WidgetKing’s founder loved the …

Oil

The Nigerian Women Turning to a Different Kind of Oil to Tackle Economic Inequality

In the Niger Delta, women are processing palm oil, instead of crude, to provide for their families. However, the environmental impacts of palm oil …

Palm Oil

Cyberthreats Heighten U.S. Energy Vulnerability

Yet we’re still sitting outside OPEC meeting rooms anxiously waiting to hear whether leaders have decided to choke or elevate production levels. Will …

Cyber-attacks

Opec taking legal advice to defend US anti-trust legislation

The oil cartel is worried about the US’s No Oil Producing and Exporting Cartels Act being enacted, which could allow the US government to sue it<p>18 …

Business (South Africa)

Saudi Aramco examining shares in Saudi petrochemical company

The Saudi Arabian Oil Co. stated Thursday it's in the early stage of working with a public investment fund to take a stake in Saudi petrochemical …

Oil

Has OPEC's MOMR Become More Strategic Than Pragmatic?

For the second month in a row, OPEC's Monthly Oil Market Report (MOMR) pushed prices down by influencing market sentiment. On July 11, after this …

Oil

OPEC, non-OPEC ministerial committee, joined by Iran, hold conference call - sources

DUBAI (Reuters) - A joint OPEC and non-OPEC ministerial monitoring committee, chaired by Saudi Arabia and joined by Iran, held a conference call on Wednesday, two sources familiar with the matter told Reuters.<p>Iran was represented by its OPEC Governor Hossein Kazempour Ardebili and a statement is …

Oil

OPEC output may be stretched to limit by supply crises, IEA says | Bloomberg Professional Services

<i>This article was written by Grant Smith. It appeared first on the Bloomberg Terminal.</i><p>OPEC’s Gulf members may need to pump almost as much crude as …

Oil

5 Ways to Play a Wild Energy Market

Iran is the Organization of Petroleum Exporting Countries' third biggest oil producer, exporting more than 2 million barrels per day. OPEC and other …

Oil

OPEC, non-OPEC compliance with oil cuts fall to around 120 pct in June - sources

© Reuters. FILE PHOTO: OPEC logo is seen at OPEC's headquarters in Vienna<p>LONDON (Reuters) - OPEC and non-OPEC's compliance with oil output curbs has …

Oil

U.S. oil futures finish higher for a second straight session

U.S. oil prices finished with a gain on Wednesday, reversing earlier losses that were fed by a surprise climb in U.S. crude inventories and record …

Oil