During the past year, open interest, or the total number of West Texas Intermediate (WTI) futures and options contracts that have not been settled, has declined by 763,000 contracts (26%), averaging 2.28 million contracts in […]
Energy Intelligence balances show the world should have enough crude oil through 2023 if some spare capacity is tapped, with a wider margin of error if an Iran nuclear deal can be clinched. Tepid demand from still-high prices for […]
An oil-fired power plant in southern Sweden owned by German energy giant Uniper suffered a failure early on Thursday when a boiler tripped, adding to supply issues in the country where nuclear and wind power generation was […]
U.S. refiners are set to continue operating at high utilization levels in the third quarter, despite concerns that a slowdown in demand could be looming in case of a recession, executives and analysts told Reuters on Thursday. […]
Underinvestment in oil and natural gas supply could threaten global energy security and decarbonization efforts over the coming years, according to the CEO of Saudi Arabia’s state-owned oil behemoth. Saudi Arabian Oil Co. (Aramco) CEO […]
(Bloomberg) — Santos Ltd. has given the go-ahead for a $2.6 billion oil field project in Alaska to expand its production beyond the Asia-Pacific region. The producer and joint venture partner Repsol SA took a […]
NEW YORK, Aug 17 (Reuters) – U.S. oil reserves held by 50 large companies rose by 13% over the five years ended in December, according to an Ernst & Young report released on Wednesday, with […]
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said. Fears over slowing consumption in China and […]
Besides Iran itself, European refiners are among those with most at stake in the negotiations to revive the 2015 Iran nuclear deal and lift US sanctions on Iranian oil exports. The negotiations hang in the […]
US shale oil producers are in line to suffer more than $10 billion in derivative hedging losses this year if oil prices remain around $100 per barrel, Rystad Energy research shows. Many shale operators offset […]
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