• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 days Solving The Space Problem For America’s Solar Industry
  • 8 days Investment in renewables tanking
  • 6 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 hours If hydrogen is the answer, you're asking the wrong question
  • 12 hours How Far Have We Really Gotten With Alternative Energy
Will OPEC+ Surprise The Market With Another Output Cut?

Will OPEC+ Surprise The Market With Another Output Cut?

Saudi Energy Minister Prince Abdulaziz…

Energy / Crude Oil

Argentina's Vaca Muerta Shale Play Could Produce 1 Million Bpd In 2030

May 31, 2023 at 11:58 | Rystad Energy

Crude oil production from Argentina’s burgeoning shale patch, Vaca Muerta, could surge in the coming years and top 1 million barrels per day (bpd) by the end of the decade…

Rosneft Q1 Profit Soars As Russian Oil Output Cuts Remain Invisible

May 31, 2023 at 10:35 | Charles Kennedy

Russian state-run oil giant Rosneft saw its first-quarter 2023 net profit rise by over 45% to around $4 billion, beating analyst expectations as production increases despite Moscow’s 500,000…

Goldman And Others Sees Rising Odds Of Another OPEC+ Output Cut

May 31, 2023 at 09:56 | ZeroHedge

If it was Russia's intention to send oil tumbling after its oil minister last week said that OPEC+ has no intentions of cutting production, in the…

Headline-Grabbing Deals Mask Big Drop In Shale M&A

May 31, 2023 at 09:34 | Alex Kimani

Energy markets have been lackluster in the current year, and it appears the malaise and bearishness have spread into the M&A sector. Oil and gas executives have become increasingly hesitant…

Exxon Is Ramping Up Activity In Offshore Guyana As The Economy Soars

May 30, 2023 at 13:13 | Matthew Smith

With more than 35 oil discoveries since 2015 the impoverished South American microstate of Guyana has emerged as the world’s hottest frontier…

Labor Leader’s Oil Plans Spark Outrage In Scotland

May 30, 2023 at 10:56 | Irina Slav

In January this year, at the Davos summit, the leader of Britain's Labour party, Keir Starmer, said that if Labour won the…

The June OPEC Meeting May Spring A Nasty Surprise For The Oil Markets

May 29, 2023 at 18:20 | Simon Watkins

The recent assurance from Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak - that he does not expect the group to take any new decisions at their next…

Saudi-Russia Tensions Growing Ahead Of Key OPEC+ Meeting

May 29, 2023 at 16:12 | Tsvetana Paraskova

Days ahead of the key OPEC+ meeting on June 4, the leading producers in the group, Saudi Arabia and Russia, are at odds about output policy.  Riyadh has grown increasingly…

Turkey Hopeful After Recent Oil And Gas Discoveries

May 29, 2023 at 15:05 | Felicity Bradstock

Following several major oil discoveries in recent months, Turkey is optimistic about its energy potential. The country’s oil and gas company, Turkish Petroleum (TPAO), has accelerated its exploration activities in…

Here’s Why Oil Flows Can Only Be Redirected, Not Stopped

May 29, 2023 at 13:00 | Irina Slav

Asian oil imports were due for a marked rebound this month after the end of the maintenance season. Chances are that a lot of the additional oil would be coming…

Conoco To Box Suncor Out Of Oil Sands Deal

May 26, 2023 at 16:42 | Julianne Geiger

ConocoPhillips will snap up TotalEnergies' 50% stake in the Surmont oil sands field for more than $3 billion in a move that will prevent Suncor Energy from buying into the…

Oil Short-Sellers Might Be In For Another Big Squeeze

May 25, 2023 at 12:45 | Alex Kimani

Oil prices recorded big declines on Thursday, with WTI and Brent crude down 3% on the intraday session as debt ceiling jitters overcame optimism about another round of OPEC+ production…

Will OPEC+ Surprise The Market With Another Output Cut?

May 25, 2023 at 09:34 | Julianne Geiger

Oil short sellers have been issued a warning: watch out for more “ouching”. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, issued the threat earlier this week…

When Will Chinese Oil Imports Boost Oil Prices?

May 24, 2023 at 14:06 | Tsvetana Paraskova

China’s sluggish crude oil trade in the first quarter of the year has added to macroeconomic concerns and banking sector jitters to keep oil prices around $80 a barrel so…

Petrobras To Appeal Amazon Oil Rejection In Lula Litmus Test

May 24, 2023 at 12:01 | Tom Kool

Brazil’s state-run oil giant Petrobras is preparing to file a request to appeal a decision to reject the environmental license for exploratory drilling in the deep waters of the Amapa…

Oil Moves Higher As EIA Reports Huge Crude Draw

May 24, 2023 at 09:37 | Irina Slav

Crude oil prices jumped higher today after the U.S. Energy Information Administration estimated inventories in the country had shed 12.5 million barrels in the week to May 19. A…

Oil Price Bearishness Hits Pandemic Levels

May 23, 2023 at 13:15 | Alex Kimani

Nowadays, the oil bulls just can’t catch a proper break. After a heavy selloff following the collapse of Silicon Valley Bank routed the markets, the markets returned to a…

China Drives Rebound In Global Oil Demand, But There’s A Catch

May 22, 2023 at 11:56 | Simon Watkins

For many years now, the state of China’s economy has been one of the most important determinants of the oil price. The vast disparity between China’s oil needs…

Are We Nearing An Inflection Point For Oil?

May 22, 2023 at 10:21 | Cyril Widdershoven

Current oil market fundamentals are under pressure, and if you are listening to economists, hedgefunds or Western governments, you may conclude that the sentiment is decidedly bearish. The current low…

Small Oil Moves In Where Big Oil Moves Out

May 19, 2023 at 12:50 | Irina Slav

A Dutch court ruled against Shell two years ago in a case targeting the supermajor’s emission footprint. It obliged the company to slash its emissions by almost half from 2019…

Oilprice - The No. 1 Source for Oil & Energy News