Monday, August 30, 2021

Oil Edges Up as U.S. Gulf Producers Assess Damage After Ida

By Sheela Tobben (Bloomberg) –Oil closed modestly higher Monday in New York as offshore explorers assess damage from Hurricane Ida and investors shift focus to an OPEC+ meeting that could see...

August 30, 2021
Total Views: 851


Hurricane Ida Pummeled U.S. Gulf Coast Energy Suppliers

By Liz Hampton and Erwin Seba HOUSTON, Aug 30 (Reuters) – Hurricane Ida pummeled U.S. Gulf Coast energy suppliers, knocking out most of the region’s offshore wells and nearly half...

August 30, 2021
Total Views: 1736

Saturday, August 28, 2021
Hurricane Ida Water Vapor Photo

Workers flee 90 Offshore Facilities As Extremely Dangerous Hurricane IDA Churns Toward Oilfields

(Reuters)-U.S. oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation’s oil...

August 28, 2021
Total Views: 1104

Saturday, June 26, 2021
Oil tanker in Ningbo Zhoushan port

Reducing Oil Use To Meet Climate Targets Is Tougher Than Just Cutting Supply

By Stephanie Kelly (Reuters) Governments around the world have been slow to take uncomfortable decisions to persuade consumers to cut energy consumption to help achieve climate targets, often because consumers...

June 26, 2021
Total Views: 1255

Thursday, February 4, 2021
ULCC TI Europe

2021 – Euronav Predicts Oil Freight Rate Weakness Will Continue All Year

by Charles Regnier (Reuters) – Belgium’s Euronav expects pressure on freight rates to continue until late 2021, the tanker operator said as it reported weaker than expected quarterly results on...

February 4, 2021
Total Views: 2617

Tuesday, May 12, 2015

China Is Missing Ingredient in Oil’s Recovery From Six-Year Low

Oil bulls who’ve cheered a rebound of 40 percent from a six-year low should take heed: Unless demand accelerates, the rally is in danger.

May 12, 2015
Total Views: 1

Tuesday, April 28, 2015
offshore oil gas platform rig

Traders Seen to be Underestimating Future Oil Prices

Oil traders are mispricing crude futures for later this decade because they’re underestimating how a collapse in spending will affect supplies, according to consultants who advise energy producers and analysts.

April 28, 2015
Total Views: 3

Sunday, April 26, 2015
Al Ba?rah Oil Terminal

Iraq Will Export New Crude Grade in May After Setting Discounts

Iraq, OPEC’s second-biggest producer, will start exporting Basrah Heavy crude next month after offering discounts for the new grade in Europe, Asia and the Americas.

April 26, 2015
Total Views: 1

Thursday, April 23, 2015
satorp refinery

Saudi Arabia’s Solution to Global Oil Glut: Pump Ever More Crude

Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels and then pump even more.

April 23, 2015
Total Views: 11

Wednesday, April 22, 2015

Strong Demand to Rebalance Oil Market by Early 2016

Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters.

April 22, 2015
Total Views: 2

Wednesday, April 15, 2015
drilling texas land rig

Oil Trades Near 2015 High on Signs U.S. Shale Boom Is Easing

Oil traded near the highest price this year amid speculation a slowdown in the U.S. shale boom will ease the biggest supply glut since 1930.

April 15, 2015
Total Views: 1

Tuesday, April 7, 2015
al naimi saudi oil minister

Saudis Boost Oil Output While Standing Ready to Stabilize Price

Saudi Arabia, which increased oil production to 10.3 million barrels a day in March, is ready to bring stability to prices, said oil minister Ali al-Naimi.

April 7, 2015
Total Views: 1

Sunday, April 5, 2015
houston refinery oil gas rob almeida

Record Gasoline Output to Curb Biggest U.S. Oil Glut in 85 Years

Refiners are poised to make gasoline at a record pace this year, keeping the biggest U.S. crude glut in more than 80 years from overflowing storage.

April 5, 2015
Total Views: 3

Wednesday, March 18, 2015
front duke vlcc supertanker frontline
Maritime News

Saudi Crude Exports Up in January

Saudi Oil Minister Ali al-Naimi has said oil demand was growing and expected oil prices, which hit a near six-year low in January, to stabilise.

March 18, 2015
Total Views: 1

Sunday, March 15, 2015
drilling texas land rig

Oil Slumps to Six-Year Low as U.S. Production Seen Filling Tanks

“We are seeing downside momentum now develop in the market.”

March 15, 2015
Total Views: 1

Wednesday, March 11, 2015

Oil Market Shrugs Off Worries About Crude Stocks: Kemp

Rebalancing is already under way in the oil market. On the supply side, there are some signs the surge in crude from U.S. shale plays is beginning to level out as drilling falls.

March 11, 2015
Total Views: 0

Tuesday, March 3, 2015
euronav famenne vlcc
Maritime News

Glencore Sees ‘Blowout’ Year for Oil Trade as Volatility Surges

Glencore Plc, the world’s biggest listed commodities trader, said 2015 could be a boom year for oil amid the biggest price swings in six years.

March 3, 2015
Total Views: 0

Sunday, March 1, 2015
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Hedge Funds Continue to Bet Against the Price of Oil

“This tidal wave of crude oil is just too overwhelming”

March 1, 2015
Total Views: 3

Tuesday, February 17, 2015

Oil Rises as OPEC Producers Signal Optimism Over Market Recovery

Oil extended three consecutive weekly gains in London as OPEC ministers signaled their confidence that the market can sustain its rebound.

February 17, 2015
Total Views: 1

Tuesday, February 3, 2015

BP CEO Sees No Hope of $100 Oil for ‘Long Time’ Amid Glut

BP Plc boss Bob Dudley is very bearish on the price of oil. He says this feels the same as 1986, when oil slumped from $30 a barrel to $10 and didn’t recover until Iraq invaded Kuwait in 1990.

February 3, 2015
Total Views: 4