Waning OPEC Compliance Threatens Oil Price Rally
Analysts cut yet again—for a sixth consecutive month—their oil price forecasts for 2017 and 2018, as the slower-than-expected rate of oil market rebalancing puts an increasing amount of pressure on…
Washington Could Suspend Oil Exports To Venezuela
The U.S. government is discussing sanctions against Venezuela’s oil industry after yesterday’s Constituent Assembly election that Washington’s UN ambassador Nikki Haley called a “sham”. According to sources who spoke to…
Are Traders Overlooking The Real Oil Price Influencer?
Was the meeting between the OPEC and non-OPEC oil ministers in St Petersburg, Russia on 24 July a game changer or not? There were high hopes for additional production cuts,…
Iran, Iraq Plan Pipeline To Export Kirkuk Crude Oil
Iraq and Iran have reached an agreement to commission a feasibility study of a crude oil pipeline that would export oil from Iraq’s northern fields in Kirkuk via Iran, the…
Riyadh Mulls Over Rising Oil Tax System
Saudi Arabia is considering changing the way it taxes Aramco, the state oil giant, in a bid to boost oil revenues in case oil prices rise. Bloomberg quotes sources close…
Europe’s Biggest Oil Refinery Shut Down After Fire
Shell’s Pernis refinery in Rotterdam, the biggest in Europe, has been partially shut down after a short circuit caused a major fire on Sunday. Deutsche Welle quoted a Shell spokesman…
Energy Sector Drives Canadian Economic Recovery
The energy sector recovery boosted the Canadian economy in May, giving the nation the fastest level of growth since October 2000, according to a new report by The Canadian Press.…
U.S. Shale Is Determined Not To Kill This Rally
Oil prices moved closer to a two-month high on Friday, closing out the week with some of the strongest gains in 2017. Market sentiment has turned “cautiously optimistic,” as Goldman…
U.S. Shale Slashes Capex As Low Oil Prices Bite
Seven months into the OPEC production cut deal, oil prices are not higher than they were at the end of last year, as the stubborn global inventory overhang and rising…
U.S. Shale Has Set An Example For Oil Majors
It took the oil supermajors quite a while to come to terms with the new oil price realities. The blow from the 2014 price crash was so severe and apparently…