Brent oil prices have fallen over 20 per cent in the past five weeks and WTI futures have declined for a record 11 days in a row. Total photo. OPEC talking supply cuts as oil [Read more]
In its 2018 World Energy Outlook, the International Energy Agency says improvements in the efficiency of the non-electric car fleet will cut oil demand by over 9 million barrels per day in 2040. Shutterstock photo. [Read more]
Hedge funds now hold fewer than four bullish long positions for every short bearish one in the oil market, down from more than 12:1 at the end of September and the lowest ratio since August [Read more]
Saudi crude shipments are expected to be reduced in December by 500,000 barrels per day next month, according to the kingdom’s energy minister. Bloomberg photo. Saudi crude shipments cut in response to lower seasonal demand [Read more]
Oil prices fell on Friday as the global crude supply increased and investors grew more concerned about slowing fuel demand. Repsol photo. Oil prices down about 20 per cent since beginning of October Oil prices [Read more]
Oil prices fell on Thursday as investors grew more concerned about bulging global oil supplies which are increasing faster than experts had forecast. Anadarko photo. Oil prices down over 1 per cent Oil prices dropped [Read more]
In October, Chinese crude imports jumped by 32 per cent over this time last year, hitting 40.80 million tonnes, or 9.61 million barrels per day (b/d). AP photo. Chinese crude imports rise as teapot refineries [Read more]
According to TASS news agency, Russia and Saudi Arabia are in discussions to cut production next year to balance the oil market and stabilize prices. OPEC, allies’ goal to keep oil market close to balance [Read more]
Oil prices fell almost 2 per cent on Tuesday, one day after the Trump administration announced it will grant waivers to some of Iran’s top crude buying customers. Nexen photo. Oil prices also impacted by [Read more]
Oil prices were up slightly on Monday as the sanctions on Iranian crude exports formally began, however, the Trump administration granted eight countries temporary waivers to the sanctions which helped ease concerns about an oil [Read more]
The Trump administration is temporarily granting eight countries permission to purchase oil from Iran. The Iran sanctions exemptions for China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey are set to last up to [Read more]
Hedge fund managers have been net sellers of 371 million barrels since the end of September, taking their net long position to the lowest level for 15 months, according to records published by regulators and [Read more]
Crude prices, spreads and the reactions of producers and consumers suggest the oil market has passed the first major cyclical peak after the slump of 2014/15. BP photo. Oil market strongly cyclical By John Kemp [Read more]
US oil output has increased by more than 2 million barrels per day over the past 12 months, an absolute increase that is unparalleled in the history of the US oil industry. Anadarko photo. US [Read more]
One of the highlights of the report is that in the coming decades, Canadian energy use and economic growth will continue to decouple. Economic growth is forecast to increase relatively faster than energy use in [Read more]
Lower oil prices would curb the projected expansion in output and stimulating faster growth in oil consumption. Modestly lower oil prices would also provide some economic stimulus and form part of the natural cyclical progression, [Read more]
Last week, hedge funds continued to liquidate former bullish positions in oil and, for the first time in more than a year, clear signs of fresh short-selling emerged. Total photo. Rising supply, economic slowdown drive [Read more]
According to the National Energy Board, Canadian crude exports have jumped nine fold over the past 32 years and recently, exports to the US Gulf Coast have increased. Suncor photo. Increasingly, Canadian crude exports going [Read more]
After several days of declines, oil prices rose on Wednesday after the US Energy Information Administration reported a larger-than-anticipated drop in US crude inventories. Equinor photo. Oil prices fell 5 per cent Tuesday Oil prices [Read more]
The effects of the US reimposing Iran sanctions and the potential response from members of the OPEC and other countries pose significant uncertainty to the forecast. Al Jazeera photo. Trump administration re-imposed Iran sanctions in May [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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