The International Energy Agency on Aug. 11 hiked its 2022 oil demand growth estimate by 380,000 b/d to 2.1 million b/d, citing “soaring” oil use in power generation and gas-to-oil switching in industry prompted by […]
Crude oil futures were mostly steady in mid-morning Asian trade Aug. 11, as prices took a breather after a roller coaster overnight session on a barrage of headlines including a mixed US inventory report and […]
Crude oil futures were mostly steady in mid-morning Asian trade Aug. 10 as prices continued to drift sideways amid an uncertain demand outlook, though some support was seen from a suspension of Russian oil flows […]
The American Petroleum Institute (API) reported a surprise build this week for crude oil of 2.156 million barrels, while analysts predicted a draw of 400,000 barrels. The build comes as the Department of Energy released […]
It looks like the offshore oil and gas drilling market is in the early innings of an upcycle in investment and activity. Both Schlumberger and Transocean believe that the upcoming cycle will outpace the 2016-2019 […]
Oil supermajors continue to hold back on investment as mid-year guidance remains mostly firm, a new report from Fitch Solutions Country Risk & Industry Research has noted. Overall, the group will raise annual capital expenditure […]
A forecast break from very hot weather in the US Northeast and Midwest is expected to ease power-sector demand for natural gas through at least Aug. 13, loosening recent supply-demand tightness and weakening spot gas […]
While oil and gas prices may continue to weaken in the near term, by the time winter sets in, the market is going to become extremely tight and the per-barrel price of oil should return […]
HAVANA, Aug 7 (Reuters) – Cuba appeared to make progress on Sunday bringing under control a fire at its main oil storage facility that has killed one firefighter, drawing on help from Mexico and Venezuela […]
The 31st OPEC and non-OPEC ministerial meeting, which was held via videoconference on Wednesday, offered several warnings, including the identification of a “severely limited availability of excess capacity”. In the meeting, the group noted that […]
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