Shell shareholders to reap rewards of upsurge in oil price
Shell shareholders are in line to reap the rewards of the upturn in the oil price after the company confirmed it would be boosting returns.
oil price
Oil reverses gains hitting six-year high on OPEC+ crisis
Oil in New York reversed gains as the U.S. dollar rose Tuesday morning.
OPEC+ deal fails, leaving oil market tighter as prices surge
OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices.
Oil price rebound unlikely to derail hydrogen investments, say experts during Energy Voice event
A rebound in the oil price is unlikely to derail future hydrogen investments, industry experts have predicted.
Oil sinks amid dollar strength with Iran nuclear deal looming
Oil slumped as a rising dollar pushed financial investors, who had piled into commodities to guard against inflation, toward the exits for other sectors.
Axora Cost Saving Technology Challenge spurs innovation as budgets tighten
The past year has taken a significant toll on many industries’ bottom line, and oil and gas is no exception. Pushed by excess supplies, price wars, and reduced demand due to the COVID-19 pandemic, oil prices fell to record lows.
Corallian fails to entice Shell with Jackdaw South
Corallian Energy attempted and failed to sell Shell and One-Dyas the “Jackdaw South” prospect ahead of the main development being sanctioned later this year.
Oil drops as low Indian demand offsets recovery optimism
Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.
Oil set for best week since early March on better demand outlook
Oil is heading for the biggest weekly gain since early March on optimism the recovery in demand from the Covid-19 pandemic is improving.
A key oil spread points to price war erupting as supply expands
A price war may be looming in the global oil market as rising output from OPEC+ and the Middle East boosts the competitiveness of the region’s shipments, potentially forcing other suppliers to discount their barrels.
Oil plunge: Prices had risen too quickly
For those who had been tracking technical indicators of oil this month, the message was clear: Crude prices had risen too quickly.
Oil deepens slide on dollar gain, concern over short-term demand
Oil in New York dropped more than 5% as short-term demand concerns and a rising dollar collided to cause the biggest intraday drop since December.
Oil falls with US crude supplies above half a billion barrels
Oil slid after U.S. crude inventories surged for a fourth week, further fueling the downbeat sentiment generated by the International Energy Agency describing global stockpiles as plentiful.
IEA sees no oil supercycle as supplies remain plentiful
Oil markets aren’t on the verge of a new price supercycle as plentiful supplies mean any concerns of a shortfall are misguided, the International Energy Agency said.
OGUK report underlines need for ‘vital support’, says 30,000 job losses remains ‘reasonable estimate’
Oil and Gas UK (OGUK) has warned that the UK’s energy transition is at risk of stalling unless the industry receives “vital support” from government.
‘Oil price fever’ expected to continue after Brent breaches $70
The oil price “fever” is expected to continue, at least in the short term, according to Rystad Energy after Brent Crude broke past $70 a barrel.
Oil wipes out gain following attack on key Saudi crude terminal
Brent oil erased gains as the market shrugged off an attack on the world’s largest crude terminal in Saudi Arabia.
Oil surges past $67 as OPEC keeps output squeeze
OPEC+ decided to keep a tight limit on oil production next month, sending prices soaring in a market that had been expecting additional supply.
IOCs primed for record numbers after ‘toughest year ever’ – Wood Mackenzie
International oil companies (IOCs) could be on track for record free cash flow this year should Brent continue its rise, according to Wood Mackenzie.
Whispers of $100 oil return as crude shakes off Covid’s clasp
While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel.
Interview: NHV CEO hopes oil price bump can get helicopter market to ‘more sustainable situation’
The CEO of NHV hopes the restoration of oil prices can help the beleaguered helicopter market “to a more sustainable situation”.
Oil set for weekly gain with market firming on draining surplus
Oil in New York rose to the highest intraday level in more than a year as output curbs from top producers whittle down global inventories.
US oil majors downgraded by S&P on climate risk, earnings
US oil majors ExxonMobil, Chevron and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.
Oil price red-hot rally fizzles with virus continuing hold on market
The oil price slipped below $58 a barrel as a recent rally fizzled with the Covid-19 pandemic continuing to weigh on the demand outlook and as one technical indicator signaled prices may have climbed too far, too fast.
North Sea firms see shares jump on oil price rally
North Sea operators including Shell, BP, EnQuest and Premier Oil have all seen their shares jump in light of the oil price rally.