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Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained

Pioneer Sees $70-$100 Oil As Supply Growth Remains Constrained

Constrained production growth will lead…

Insurers Signal Fallout From Sanctions On Russia

Insurers Signal Fallout From Sanctions On Russia

Insurers are concerned that price-cap-compliant…

Energy / Crude Oil

Is Warren Buffett’s Favorite Energy Stock Overhyped?

May 18, 2023 at 16:12 | Alex Kimani

Over the past few years, Permian shale giant Occidental Corp.(NYSE:OXY) has become a darling of billionaire investors. Back in 2019, famous activist investor Carl Icahn bought a 2.5% stake in OXY…

Oil Price Predictions Have Become Oddly Polarized

May 18, 2023 at 13:29 | Alex Kimani

Last month, we reported that energy experts have been growing increasingly bearish on the oil price outlook compared to previous sentiment. Four energy agencies including the IEA and OPEC…

The 2023 Oil Demand Conundrum

May 17, 2023 at 10:50 | Irina Slav

In its latest Oil Market Report, the International Energy Agency forecast that global oil demand would hit 102 million barrels daily, driven by China, whose oil demand, according to…

Oil Inches Down As EIA Confirms Crude Build

May 17, 2023 at 09:42 | Irina Slav

Crude oil prices moved lower today, after the U.S. Energy Information Administration reported an inventory build of 5 million barrels for the week to May 12. At 467.6 million…

Goldman Sachs: Oil Markets To Face Supply Crisis In 2024

May 17, 2023 at 08:53 | Alex Kimani

The oil markets remain highly volatile, but continue to have little forward momentum, with WTI prices resuming their negative trading to move away from the pivotal $71.55 resistance level, pointing…

Despite Bullish Signs, Traders Shun Oil

May 16, 2023 at 11:24 | Irina Slav

Earlier this week, oil reversed a four-week losing streak pushed higher by production shut-ins in Canada and analyst expectations that the tightness of supply is about to manifest itself during…

Underhedged Oil Producers Heavily Exposed To Low Oil Prices

May 16, 2023 at 08:55 | Alex Kimani

Hedging is a popular trading strategy frequently used by oil and gas producers, airlines and other heavy consumers of energy commodities to protect themselves against market fluctuations. During…

OPEC Cut Failed To Lift Oil Prices, But The Year Isn’t Over Yet

May 15, 2023 at 10:11 | Irina Slav

Crude oil prices have been on a losing streak for four consecutive weeks now, erasing all the gains they booked after OPEC’s latest supply cut announcement as economic…

The Energy Transition Has A Metals Problem

May 12, 2023 at 11:53 | Irina Slav

Copper prices this week fell to the lowest since last November on weak economic data from China. Yet the International Copper Study Group, a group of copper exporters and…

450,000 Bpd Flow Of Kurdish Crude Unlikely To Restart This Weekend

May 12, 2023 at 09:36 | Charles Kennedy

While the Iraqi oil minister has said that 450,000 barrels per day of shut-in oil exports from Iraqi Kurdistan would restart exports on Saturday, Kurdish and Turkish officials…

Low-Quality Crude Sees Mysterious Price Rally

May 11, 2023 at 16:31 | Irina Slav

Middle Eastern oil producers are raising the export prices for their lower-grade crudes, Bloomberg reported earlier this week. And European buyers have no choice but to pay up—because the…

OPEC: World Oil Demand To Rise By 2.33 Million Bpd In 2023

May 11, 2023 at 10:59 | Alex Kimani

For the third month running, OPEC has barely changed its forecast of global oil demand, predicting growth of 2.33 million barrels per day, or 2.3% Y/Y growth, good for a…

Shale Steals The Show As Oil & Gas Spending Surges

May 11, 2023 at 09:58 | Rystad Energy

Global energy reliability concerns are triggering a surge in oil and gas investments – but this uptick is only temporary, and service companies should capitalize now before the…

Traders Dump Oil As Concerns About The Economy Persist

May 10, 2023 at 11:50 | Tsvetana Paraskova

Money managers fled the oil market in the week to May 2, reversing two weeks of buying petroleum futures and contracts spurred by the new production cuts announced by several…

Oil Falls Further On EIA Inventory Report

May 10, 2023 at 09:37 | Irina Slav

Crude oil prices fell further today after the Energy Information Administration reported an inventory build of 3 million barrels for the week to May 5. This compared with…

Russia’s Crude Oil Shipments Hit Highest Since At Least Early 2022

May 09, 2023 at 11:29 | Tom Kool

Russia’s crude oil exports by sea hit a new high of 3.55 million barrels per day (bpd) in the four weeks to May 5, the highest shipments since at least…

U.S. Oil Production On Track To Hit A Record High This Year

May 04, 2023 at 07:26 | Robert Rapier

One of my 2023 energy predictions was “Total U.S. oil production will again rise, and set a new annual production record.” The previous…

OPEC’s April Production Falls: Survey

May 02, 2023 at 14:46 | Charles Kennedy

  Julianne Geiger OPEC’s crude oil production fell last month to a level not seen in nearly a year, a Bloomberg survey showed on Tuesday. OPEC’s crude oil production fell…

India Leads In Russian Oil ‘Laundering’ To Europe

May 01, 2023 at 13:29 | Alex Kimani

A new report by the Center for Research on Energy and Clean Air (CREA) has found that European countries that banned…

Next Year Will Be A Crucial Year For Suriname’s Emerging Oil Boom

Apr 28, 2023 at 15:10 | Matthew Smith

A series of setbacks emerged during 2022 which derailed deeply impoverished Suriname’s nascent oil boom. The former Dutch colony of around 600,000 people, which shares the Guyana Suriname Basin with…

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