Chinese oil demand waning as Opec struggles over output
Oil bulls grappling with Opec’s weakened resolve to curb output are also having to worry about waning demand in the world’s biggest buyer of overseas crude.
Renewables trouncing oil, gas and coal in Trump era
President Donald Trump took office vowing to revive the coal industry’s fortunes. So far, the smart money has been on clean energy.
Big oil sees salvation in gas, but what if it’s wrong?
Talk to a big oil executive these days, and the chances are they’ll steer the conversation toward gas.
Oil hovers around $46 as US, Libya lift output
Oil traded near $46 a barrel after snapping a five-day gain on concern output in the US and Opec member Libya is growing just as demand shows signs of improvement.
Mexico delays next oil auction to let huge new find sink in
Mexico will delay its next offshore oilfield auctions by a month, giving international bidders more time to evaluate recent major crude discoveries that highlight the potential value of the assets.
Oil stays above $46 as demand helps drain stockpiles
Oil held gains above $46 a barrel as optimism that demand will help shrink supplies outweighed an increase in US rigs drilling for crude.
Oil gets some respite as bears give summer optimism a chance
Oil sceptics are letting a little sunshine in.
Oil sands help shale hamper Opec push to fix market
OPEC producers are finding that shale oil drillers aren’t their only adversaries in their battle to drain a three-year crude glut .
Ramp up on Norway’s Troll field comes at right time for UK
Norway is turning on the taps at Europe’s biggest offshore gas field at just the right time for Britain.
Oil’s weekly gain belies small increase from late-2016
Oil is set to rise this week, 2017 demand is seen growing more than previously expected, and US stockpiles are declining. Prices are still less than $1 higher than when OPEC pledged to curb output late last year.
Oil bosses see more pain as price recovery slips back to 2020
Three years into the biggest oil downturn in a generation, industry bosses see the recovery slipping further from view.
Billion-barrel Mexico find could spur rush on next oil auctions
A billion-barrel crude discovery in Mexico could be just the lure the country needs to boost investment from oil majors as it lacks the wherewithal to reverse years of sagging output.
Opec’s 2018 forecast shows it’s pumping too much oil
OPEC’s first assessment of world oil markets in 2018 showed that, despite cutting output, the group is still pumping too much crude.
Halliburton predicts 2020 oil spike after industry cuts $2tn
Halliburton expects that the worst crude crash in a generation will lead to a spike in oil prices by 2020.
Oil extends advance above $45 on signs US stockpiles declined
Oil extended gains above $45 a barrel as U.S. industry data showed crude and gasoline stockpiles declined, easing a glut.
Top oil traders tailor bespoke crude in a supermarket at sea
The biggest oil traders feeling the squeeze in a world awash with crude are seeking an edge by offering tailor-made cargoes in an offshore mega store.
Oil drops as Saudi produces above output cap
Oil fell in New York, erasing earlier gains, after Saudi Arabia’s production last month was said to have risen above the cap it agreed on with fellow OPEC members.
Oil fields pumping 1/3 of supply die fastest, North Sea bucks trend
The tussle for supremacy between OPEC and U.S. shale drillers is killing off older oil fields at the fastest pace in almost a quarter century. That could hurt the industry once the current glut has faded.
Shell to spend $1bln a year on clean energy by 2020
Shell plans to spend as much as $1billion a year on its New Energies division as the transition toward renewable power and electric cars accelerates.
Aramco to spend $300billion as CEO frets about oil supplies
Saudi Aramco, which plans what could be the world’s biggest initial public offering, will invest more than $300 billion over the next decade to maintain its spare oil-production capacity and explore for more natural gas, President and Chief Executive Officer Amin Nasser said.
Good news can’t stop oil’s bad mood as short-sellers rule
Even good news can do little to dispel the prevailing pessimism in the oil market.
Tillerson reminisces about life at Exxon, “contract sanctity”
Secretary of State Rex Tillerson reminisced fondly about his 41-year career with Exxon Mobil Corp. as he accepted an award on Sunday from the World Petroleum Council honoring his “outstanding contribution to the oil and gas industry.”
Nigeria Delta communities demand stake in ex-Shell oil block
A group of communities in Nigeria’s Niger River delta demanded a stake in an oil block it said it was promised when Royal Dutch Shell Plc sold its share to a local company six years ago.
Oil posts weekly decline as US drillers resume expansion
Oil prices declined for the week, as expanded U.S. drilling activity and added production offset a larger-than-expected drop in stockpiles.
At Opec’s critical moment, Saudi ‘goes quiet’
Now is the time to maximize the impact of OPEC’s oil production cuts, yet the market is still waiting for the group’s biggest member to show it’s doing “ whatever it takes” to eliminate the global oversupply.