The Organization of the Petroleum Exporting Countries (OPEC) struggled when oil fell back into the $40s in December and January. The organization is committed to…
Commodities
Oil traders are tracking the mobile phones of oilfield workers
Oil traders are tracking the mobile phones of workers at any given plant in the U.S, looking for the arrival of support crews that could…
Oil demand growth is set to ease due to efficiency gains and electric cars
While global oil demand growth is set to ease, in particular as China slows down, it still increases an annual average of 1.2 million barrels…
Why are the U.S Oil Majors interested in Venezuela?
Why are U.S oil Companies so interested? , Well for starters The proven oil reserves in Venezuela are recognized as the largest in the world,…
OPEC is sending a clear warning to Washington
OPEC is sending a clear message to Wall Street banks and big investors: if Washington passes legislation that would allow the U.S. government to sue…
Exxon Mobil and Chevron Plan on Texas size Scale in the Permian Basin
Exxon Mobil and Chevron said they would boost their growth in the Permian basin substantially. Big oil is getting even bigger in shale, and that…
Brent Oil Eases From 2019 Highs as Markets Await Trade Talks Outcome
Quotes of oil rose by almost 2% on Wednesday after Saudi Arabia said it would reduce oil exports and provide an even more significant reduction…
13.2 million barrels a day by 2020
The U.S. Energy Information Administration lifted its forecasts for U.S. crude production for this year and next and cut its 2020 forecasts for U.S. and…
Loss of Venezuelan oil exports won’t leave huge gap in global market
Venezuela exports around 1 million barrels of oil per day, about 1 percent of global production, of which half heads to the United States. Many…
The last time this happened, oil surged 80 percent
The last time it saw these lows, it had a massive rally, says Matt Maley, equity strategist at Miller Tabak. “It got down to the…
Oil ends year down 25%, its worst annual showing since the crash of 2015
Stockpiles at a key storage hub in Oklahoma probably rose 1.2 million barrels last week, according to a Bloomberg survey of analysts released Monday. Despite…
Crude Oil market volatility seen continuing into the New Year
The oil market is under the thrall of macroeconomic factors that are weighing on the stock market and raising questions about crude demand in 2019.
Crude gets caught up in financial market weakness
Oil rose to $51 a barrel on Wednesday on perceptions that a price slide to 2017 lows prompted by economic worries had been overdone amid an OPEC-led effort to tighten supply.
China has the largest oil demand in the world, according to reports
China’s crude oil imports exceed 10 million barrels per day, and its dependence on foreign countries is over 70%.