Oil prices fell 4 per cent Thursday, but regained some ground after OPEC and its allies signalled later in the day that it would cut production. Baytex photo. Oil prices down about 30 per cent [Read more] [Read more]
Proved US oil reserves increased by 6.4 billion barrels (19.5 per cent) in 2017 compared with the previous year, according to the US Energy Information Administration. Harvest Oil & Gas image. Shale plays accounted for [Read more] [Read more]
Oil prices climbed over 4 per cent on Monday after talks between the US and China resulted in a temporary truce to the trade war that has dragged down markets in recent months. Anadarko photo. [Read more] [Read more]
Western Canadian Select crude is typically priced lower than other crudes because of its quality. Recently, WCS prices fell substantially because of planned maintenance and rising production. Suncor photo. WCS prices up on Monday following [Read more] [Read more]
Oil prices fell over one per cent on Friday on rising crude stocks and despite expectations that OPEC and Russia will agree to a production cut next week at the cartel’s meeting in Vienna. Anadarko [Read more] [Read more]
Proved reserves of U.S. crude oil increased 19.5 per cent from the end of 2016, reaching 39.2 billion barrels and surpassing the previous peak level of 39.0 billion barrels set in 1970. Getty Images photo [Read more] [Read more]
Oil prices climbed on Thursday after industry sources reported that Russia has agreed for the need for crude output cuts for 2019. Equinor photo. Oil prices up over 2 per cent US oil prices jumped [Read more] [Read more]
Saudi Arabia’s energy minister, Khalid al-Falih, is hoping to convince other OPEC ministers to get on board with output cuts to avoid another oil price crash when the cartel meets in Vienna next week. Bloomberg [Read more] [Read more]
US crude stocks rose by 3.6 million barrels last week, much higher than analysts’ expectations of an increase of 769,000 barrels. Bloomberg photo by David Acker. US crude stocks up by 3.6 million barrels last [Read more] [Read more]
Today enhanced oil recovery represents only around 2 per cent of global oil supply and it remained in the background even during previous periods of high oil prices. Pioneer Natural Resources photo. Enhanced oil recovery [Read more] [Read more]
The next move in oil prices will be determined by how US shale firms and Saudi Arabia react to the recent fall in oil prices and whether the global economy slows further. Repsol photo. WTI [Read more] [Read more]
Oil prices rose over 3 per cent on Monday, but gains were capped by concerns about the slowing global economy and rising crude supplies. BP photo. Oil prices up over 3 per cent After dropping [Read more] [Read more]
The troika, which is made up of the United States, Russia and Saudi Arabia, has been the driving force behind critical decisions concerning the oil market, pushing out OPEC. Troika production decisions determine if the [Read more]
The crude oil market sell-off has shaved more than a fifth off the global Brent crude benchmark and slashed the price of U.S. crude by 25 per cent since early October. Anadarko photo. Crude oil [Read more]
Rising diesel and jet fuel prices, at least relative to crude and gasoline, are forcing oil market adjustments that should lessen the chance of a severe shortage at the end of next year. Total photo. [Read more]
Oil prices were up slightly on Friday in volatile trading. Prices were underpinned by expectations that at a meeting next month in Vienna, OPEC will agree to cut output in 2019. ConocoPhillips photo. Oil prices [Read more]
Rising productivity in the Wolfcamp, like in other plays in the Permian Basin, has been driven mostly by drilling longer horizontal laterals and optimizing completions. Wolfcamp play the deepest and thickest stacked shale formations in [Read more]
Global oil markets are increasingly over-supplied with light distillates, such as gasoline, while there are not enough middle distillates, such as diesel, which has opened a big price differential between the two fuels. McEvoy Oil [Read more]
Oil prices rose on Thursday after US EIA data showed falling US fuel inventories and despite investor concerns about a potential oversupplied market in 2019. Repsol photo. Oil prices pared on EIA data showing 10.3 [Read more]
According to data from the United States Energy Information Administration, natural gas and oil production is rising even though there are fewer wells in operation. Anadarko photo. With fewer wells, US oil production grew from [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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