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One Sector To Watch Oil As Oil Prices Rally

One Sector To Watch Oil As Oil Prices Rally

Although U.S. oil refinery margins…

Energy / Crude Oil

Saudi Arabia Could Deepen Production Cuts As China’s Oil Imports Fall

Aug 09, 2023 at 13:46 | Alex Kimani

Last month, several commodity experts predicted the Saudis will prolong its voluntary production cut but taper off their extra cut by restoring 250,000-500,000 barrels a day of halted production…

Oil Ticks Higher On Fuel Inventory Draws

Aug 09, 2023 at 10:52 | Irina Slav

Crude oil prices moved higher today after the U.S. Energy Information Administration reported an estimated inventory build of 5.9 million barrels for the week to August 4. Fuel inventories,…

Venezuela’s Oil Industry Is Killing South America's Oldest Lake

Aug 09, 2023 at 09:06 | Matthew Smith

Lake Maracaibo, which is South America’s oldest lake and forms part of a crucial regional ecosystem, is dying. The five thousand square miles ecologically diverse body of water, which is…

China Becomes Bearish Factor For Oil Prices Again

Aug 08, 2023 at 10:32 | Tom Kool

Brent crude fell below $85 per barrel on Tuesday as poor import/export data from China weighs on oil markets. 

How AI Is Breathing New Life Into Oil And Gas Operations

Aug 08, 2023 at 08:47 | Felicity Bradstock

The use of artificial intelligence (AI) and other digital technologies in the oil and gas industry has increased dramatically in recent years and is expected to continue growing over the…

From Unknown To Unstoppable: New Traders Redefine Russia's Oil Landscape

Aug 08, 2023 at 08:22 | Tsvetana Paraskova

Little-known and newly-incorporated trading companies have handled large volumes of Russian crude oil and products since the Russian invasion of Ukraine and the withdrawal of Western firms from trades with…

New Drilling Data Reignites Suriname's Oil Dream

Aug 08, 2023 at 08:20 | Matthew Smith

After five commercial oil discoveries in Surname’s offshore Block 58, the government in Paramaribo was optimistic the tiny, impoverished country was on track to enjoy an oil boom on the 

New Research Could Make Shale Oil Production Cheaper

Aug 07, 2023 at 13:29 | Alex Kimani

The U.S. shale revolution has dramatically reshaped the world energy markets. The shale boom was one of the most impressive growth stories, from take off in 2008 to the Permian…

U.S. Crude Gains Weight Against Global Oil Benchmarks

Aug 07, 2023 at 10:18 | Irina Slav

A surge in U.S. crude oil exports is changing the face of the global market and how oil is priced, with the price of U.S. crude gaining weight…

Why OPEC+ Will Do Whatever It Can To Send Oil Prices Higher

Aug 07, 2023 at 08:58 | Simon Watkins

The relentless drive of OPEC+ to keep driving oil prices higher, as predicted by OilPrice.com some time ago, was seen again in last week’s extension of major…

Saudi Arabia’s Budget Deficit Jumps By 80% Due To Lower Oil Revenues

Aug 04, 2023 at 15:04 | Tsvetana Paraskova

Higher expenditures on diversification from oil amid lower oil export revenues resulted in a widening budget deficit in Saudi Arabia, the world’s largest crude oil exporter.  Saudi government deficit jumped…

Distillate Prices Soar On The Back Of Refinery Issues And Expensive Crude

Aug 04, 2023 at 09:00 | ChAI

The price of gasoline and other distillate fuels have rallied in recent weeks at a faster pace than the upstream crude oil benchmarks. At a time when central banks around…

The Fall Of Ecuador's Oil Empire

Aug 04, 2023 at 07:58 | Matthew Smith

A 2005 to 2015 oil boom under the stewardship of leftist President Rafael Correa pulled Ecuador, one of South America’s poorest countries, out of poverty. After securing greater government control…

OPEC+ Leaves Oil Output Levels Unchanged

Aug 04, 2023 at 07:51 | Tsvetana Paraskova

  The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ affirmed on Friday the current levels of oil production of the group and didn’t make any recommendation to…

One Sector To Watch Oil As Oil Prices Rally

Aug 03, 2023 at 14:08 | Alex Kimani

After remaining range-bound for much of the second quarter, oil prices have mounted a significant rally, with analysts saying oil markets are finally waking up to the fact…

Big Oil’s Cash Restraint Begins To Cause Worry

Aug 03, 2023 at 10:47 | Irina Slav

These past two weeks saw yet another strong quarterly showing for Big Oil despite substantial declines in earnings, following the trajectory of oil pieces since last year. Once…

An Oil Boom Is Underway In Ghana

Aug 03, 2023 at 08:45 | Felicity Bradstock

Several African countries have welcomed investment in oil and gas in recent years, as parts of the continent undergo industrialization and investors look to develop new reserves. Africa provides companies…

Hedge Funds Boost Bullish Bets On Oil

Aug 03, 2023 at 08:36 | Tsvetana Paraskova

Money managers have grown increasingly optimistic about a recovery in oil prices and have raced to close out bearish bets on petroleum futures over the past month.   Shrinking…

$85 Is Just The Beginning Of The Oil Rally

Aug 02, 2023 at 10:47 | Irina Slav

Earlier this week, media reported that oil production from the members of OPEC had fallen to the lowest since 2021—or 2020, depending…

Oil Falls Despite Massive Crude Inventory Draw

Aug 02, 2023 at 09:43 | Irina Slav

WTI crude futures didn't move higher today after the Energy Information Administration confirmed the substantial inventory draw estimated by the American Petroleum Institute on Tuesday. After the startling revision…

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