Crude Oil

Crude Oil

IEA: Oil Demand Recovery Outpacing Growth in Supply

Shortfall expected to reach 2.5 million bbl/d by year’s end.

May 12, 2021

Exploration & Production , Crude Oil

EIA Projects Steeper Decline in US Oil Production for 2021

U.S. oil producers have been gradually increasing drilling activity as oil prices have rebounded but output growth has been muted as investors pressure companies to rein in spending and focus on returns.

May 11, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (May 10, 2021)

Oil prices are expected this week to drift sideways with an upward bias, while product prices in the Atlantic Basin will move upward until the Colonial Pipeline is back in service, says Stratas Advisors in its latest forecast.

May 10, 2021

Crude Oil

Oil Prices Rise after Cyberattack Forces Shutdown of Major US Pipeline

While some analysts have said oil demand may never reach pre-pandemic levels, Goldman Sachs said it expected this by the end of the year and predicted Brent would hit $80 and WTI $77 within six months.

May 10, 2021

Crude Oil , Trade , International

Saudi Arabia Cuts Oil Prices for Asia, Sources Say

Top oil exporter Saudi Arabia has cut the June official selling prices (OSPs) of all crude grades it sells to Asia, sources say.

May 6, 2021

Crude Oil

What’s Affecting Oil Prices This Week? (May 3, 2021)

The oil price movement from the last week is somewhat reflective of the difference in the pace of economic recovery between the U.S., where the economy continues to show signs of a robust recovery, and the Eurozone, which has fallen back into recession, says Stratas Advisors in its latest forecast.

May 3, 2021

Exploration & Production , Crude Oil

What’s Next for the Global Oil Market?

Energy experts at Rice University’s Baker Institute share insight on OPEC+, U.S. shale and global oil demand.

April 27, 2021

Exploration & Production , Crude Oil

Mexican Oil Output Slightly Below Target Agreed with OPEC+

Mexico’s output totaled about 1.72 MMbbl/d.

April 27, 2021

Crude Oil , Trade , International

OPEC+ Sticks to Plan to Ease Oil Output Cuts Beginning in May

A market monitoring panel decided to stick to policies broadly agreed upon at a previous April 1 meeting of OPEC+, Russian Deputy Prime Minister Alexander Novak said after the talks.

April 27, 2021

Crude Oil , Trade , International

OPEC+ Worried by Surge in COVID-19 Cases, Sources Say

The OPEC+ joint technical committee raised its forecast for global oil demand growth in its most recent monthly oil market report while also expressing concern about rising COVID-19 cases in India and elsewhere.

April 26, 2021