Commentators have identified several possible triggers for the correction in oil prices, including the sharp drop in U.S. equities, recent dollar strengthening and the unexpectedly rapid increase in U.S. shale production. Shell photo. Near-record net [Read more]
Oil prices were up slightly on Monday, helped by weaker US dollar and strong demand for crude. Nexen photo. US oil prices up almost 1 per cent On Monday, slightly higher oil prices regained some [Read more]
Protestors gathered outside the California state legislature in Sacramento to protest the Trump administration’s changes to the US offshore oil drilling plan. CALmatters.org photo. Trump administration expanded its offshore oil drilling plan last year At [Read more]
Oil prices fell on Friday. US WTI fell below the $60 mark for the first time since late December. Seven Generations photo. Oil prices down over 9 per cent from 2018 high in late January [Read more]
The ban on US oil exports was lifted by the Obama administration in 2015, opening up global crude market to US producers. Getty Images photo. In 2015, the Obama administration lifted a 40-year ban on [Read more]
Oil prices on track to fall for fifth consecutive day after EIA data showed US crude production hit 10.25 million b/d and the Forties pipeline restarted following a shutdown. Nexen photo. Oil prices down over [Read more]
The Seoul Spirit, a crude tanker filled with US shale oil sailed from Houston and arrived in the Persian Gulf in January. Teekay.com photo. Energy economist Ed Hirs says political conflict between UAE and Saudi [Read more]
The United States says it is considering imposing Venezuelan oil sanctions in an effort to pressure President Nicolás Maduro to return the South American country to full constitutional order. AFP/Getty Images photo by Luis Robayo. Venezuelan oil [Read more]
Oil prices fell on Wednesday due to rising US crude stocks and a surprising increase in distillates inventories. Repsol photo. US oil prices down over 3 per cent Wednesday Oil prices dropped to a one-month [Read more]
If the forecasts prove correct, US shale producers will capture all or most of the predicted growth in global oil consumption this year. Repsol photo. OPEC pact participants conceding market share to US shale producers [Read more]
Oil prices fell on Monday as a rising US dollar made crude more expensive for non-US investors to buy greenback-dominated assets. Nexen photo. Oil prices drop for third straight day Oil prices were caught in [Read more]
US oil prices fell over 2 per cent on Monday while price of North Sea oil hit its lowest in eight months. Apache photo. Oil prices pressured Monday on market sell-off Oil prices dipped significantly [Read more]
Hedge funds had built record net long position in Brent, NYMEX and ICE WTI, U.S. gasoline, U.S. heating oil and European gasoil a week earlier. Anadarko photo. Hedge funds cut long position in six most [Read more]
The four biggest refiners in the United States, Phillips 66, Valero, Marathon and Andeavor posted one-time tax gains of $7 billion combined in 2017 Q4, matching their net incomes for all of 2016, according to [Read more]
Brent oil prices fell by over 2 per cent on Friday, but crude remains supported by strong demand and OPEC supply cut compliance. Apache photo. Oil prices pressured by rising US production, dollar Oil prices [Read more]
On Thursday, US oil prices gained almost 2 per cent. In January, both Brent and WTI increased for a fifth straight month. Apache photo. Oil prices rose as falling output in Venezuela offset higher production [Read more]
US oil production rising despite fewer rigs and producers focusing on “core” parts of the shale play, including the Permian basin. Apache photo. US oil production topped 10 million b/d in November: EIA By John [Read more]
Alberta well has $770,000 in policy-induced costs, about same as oil well in Saskatchewan February 1, 2018 – Government policies are piling on to reduce the competitiveness of energy producers in Western Canada, according to a new [Read more]
Mexico shale oil proven reserves amount to 13 billion barrels. Pemex has drilled in Mexico shale reserves, but produced little Reuters reports that Mexico is hoping to hold its first shale oil and gas auction [Read more]
Oil prices steadied during trading on Wednesday, despite data from the US Energy Information Administration showing a 6.8 million barrel rise in US crude stocks. Nexen photo. Oil prices recover during session despite 6.8 million [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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