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Goldman Remains Bullish On Oil Despite OPEC+ Decision

Goldman Remains Bullish On Oil Despite OPEC+ Decision

Goldman Sachs commodity analysts remain…

Energy / Crude Oil

California Is Addicted To Oil From The Amazon

Dec 06, 2021 at 13:16 | Irina Slav

California is by far the most ambitious U.S. state when it comes to things like emission standards, EV sales, and renewable energy. California is shutting down its nuclear…

Adapt Or Die: Nigeria’s Oil Industry Faces A Huge Challenge

Dec 06, 2021 at 12:17 | Gerald Jansen

Nigeria has had to face countless challenges in the past months, ranging from purely oil-related supply disruptions and oil spills to just casual violence making it really hard…

Saudi Arabia Hikes Oil Prices Despite Omicron Fears

Dec 06, 2021 at 09:58 | Irina Slav

Amid heightened worry about the course of the pandemic after the emergence of the Omicron variant, Saudi Arabia injected a dose of confidence in markets by raising its official selling…

U.S. Rig Count Unchanged After Crazy Week In Oil Markets

Dec 03, 2021 at 12:09 | Julianne Geiger

There has been no net change to the number of active drilling rigs in the United States this week, according to Baker Hughes. The total rig count remains at 569—a…

Goldman Remains Bullish On Oil Despite OPEC+ Decision

Dec 03, 2021 at 11:05 | Irina Slav

Goldman Sachs commodity analysts remain bullish on oil prices despite yesterday’s decision by OPEC+ to add another 400,000 bpd to combined production next month. The bank’s analysts said…

Oil Prices Bounce Back Despite The OPEC+ Decision

Dec 02, 2021 at 10:48 | Tsvetana Paraskova

Oil prices rose on Thursday after OPEC+ decided to keep its oil production policy unchanged and add another 400,000 bpd on the market in January. As of 10:14 a.m. EST,…

OPEC+ To Add 400,000 Bpd In January Despite Oil Price Plunge

Dec 02, 2021 at 08:53 | Tsvetana Paraskova

The OPEC+ group is sticking to its plan to ease the production cuts in January by 400,000 barrels per day, despite mounting evidence of a larger-than-expected oil surplus early next…

Drilling Is Picking Up In The U.S. Shale Patch

Dec 01, 2021 at 16:21 | Tsvetana Paraskova

The U.S. shale patch has returned to a moderate increase in drilling activity, having largely depleted the inventory of drilled by uncompleted (DUC) wells at the fastest clip…

EV Makers Are Desperate To Ditch Cobalt

Dec 01, 2021 at 14:32 | Alex Kimani

With the energy transition in full swing, experts have predicted that metals are poised to become even more valuable than oil, with prices…

OPEC+ Expects Large Oil Glut In Early 2022

Dec 01, 2021 at 09:04 | Tsvetana Paraskova

  OPEC+ expects the global oil market to show a worse-than-previously expected…

Oman’s New Petrochemical Project Could Be A Game-Changer

Nov 30, 2021 at 11:06 | Simon Watkins

Oman has been looking to build a presence in the higher-value petrochemicals industry in earnest for over a decade, given that on the one hand more than 80…

Guyana To Become The 11th Country To Produce Over 1 Million Bpd

Nov 30, 2021 at 10:44 | Matthew Smith

The tiny South American nation of Guyana has emerged as the hottest offshore drilling location on the continent over the last six years. The swathe of oil discoveries…

U.S. Strategic Oil Reserves Could Fall By 50% Over The Next Decade

Nov 29, 2021 at 11:28 | Tsvetana Paraskova

Recent legislation and last week’s announcement of a release of 50 million barrels of crude oil from the U.S. Strategic Petroleum Reserve (SPR) could see America’s strategic stockpiles…

Canada's Ambitious New Plan To Save Its Oil Sands

Nov 26, 2021 at 09:36 | Felicity Bradstock

In Canada, a renewable energy trend could lend itself to the oil and gas industry, with the potential for geothermal energy to help oil sands to thrive for…

The Real Reason Why OPEC+ Won’t Open The Taps

Nov 24, 2021 at 17:06 | Tsvetana Paraskova

The United States announced a release from its Strategic Petroleum Reserve (SPR) on Tuesday, saying at the same time that it hopes OPEC+ would continue to add 400,000…

Oil Bulls Rejoice As Biden’s Supply Strategy Backfires

Nov 24, 2021 at 16:16 | Cyril Widdershoven

President Biden’s threat to oil producers that he would force prices down has already backfired. Oil markets were unimpressed by the U.S. administration’s plan to coordinate a strategic…

UAE Pumps $6 Billion Into Oil And Gas Expansion Projects

Nov 24, 2021 at 16:03 | Simon Watkins

The U.S.-sponsored ‘relationship normalisation’ deal signed last year between Israel and the UAE is a core element of Washington’s attempt to counterbalance the advance of China and Russia…

China Keeps Markets In The Dark About SPR Release

Nov 24, 2021 at 15:55 | Tsvetana Paraskova

The volume of the expected Chinese release of crude oil from its state reserves will be decided according to the country's actual needs, China said on Wednesday, declining to comment…

Oil Markets Unimpressed By Small Crude Inventory Build

Nov 24, 2021 at 09:40 | Julianne Geiger

Crude oil inventories rose last week, while gasoline inventories declined, the Energy Information Administration said on Wednesday. The EIA has reported that crude oil inventories increased by 1 million barrels…

SPR Release Only Triggered A Brief Selloff In Crude Oil

Nov 23, 2021 at 10:57 | Irina Slav

Media reports about the joint release of millions of barrels of oil by the United States, China, and Japan prompted a selloff across oil futures contracts and a…

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