Crude Oil

Unconventional , Crude Oil

OPEC Sees US Shale Output Recovering Further on Oil Rally

The outlook for U.S. shale oil is slightly more “optimistic” due to rising prices and output will recover further in the second half of 2021, OPEC said on Jan.14, in a sign its policy of cutting output is helping rivals pump more.

January 15, 2021

Business , Exploration & Production , Crude Oil , Shale Plays

US Shale Producers Lock in Future Sales as Oil Prices Hit One-year High

U.S. shale producers that are hedging are likely locking in about 15% to 20% of production at a time, said Tom Petrie, chairman at energy investment bank Petrie Partners.

January 15, 2021

Crude Oil

IEA: Oil Market Outlook Clouded by Vaccine Roll-Out Variables

Pace and response to vaccines add uncertainty to planning, says agency analyst.

January 13, 2021

Crude Oil , Trade , International , Storage

Oil Prices Rally Further after US Inventory Drop

Both crude oil benchmarks are trading at the highest since February 2020, before the coronavirus outbreak in China began spreading across the world and billions of people went into lockdown.

January 13, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (Jan. 11, 2021)

The U.S. political arena and the management of the oil markets are poised for interaction, and the resulting dynamics could trigger market volatility that will surpass even that seen last year, Stratas Advisors says in its latest oil price forecast.

January 11, 2021

Crude Oil

Saudi Cut to Boost Oil Market De-Stocking as Demand Falters

Barclays notes that the COVID-19 situation puts the oil market in ‘uncharted territory.’

January 11, 2021

Markets , Crude Oil , Storage

Column: Petroleum Stocks Nearing Normal After Wild 2020

Oil producers and refiners adjusted to the situation at an exceptionally fast pace.

January 8, 2021

Crude Oil , Trade , Storage

Report: US Crude Oil Stockpiles Tumble Last Week

Crude oil inventories in the U.S. fell by 8 million barrels in the week to Jan. 1 to 485.5 million barrels, their biggest decline since August, exceeding analysts' expectations.

January 6, 2021

Crude Oil , Trade , International

OPEC December Oil Output Rises for Sixth Month Led by Libya

The 13-member OPEC group pumped 25.59 million bbl/d  of oil in December, the survey found, up 280,000 bbl/d from November and a further increase from a three-decade low reached in June.

January 6, 2021

Crude Oil , Trade , International

Oil Prices Rise to 11-month High after Saudi Arabia Pledges Unilateral Output Cut

WTI futures in the U.S. climbed as much as 0.6% to $50.24/bbl, also the highest since Feb. 26, before slipping to $49.96. The contract on Jan. 5 closed up 4.6%.

January 6, 2021