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Crude extended gains after an industry report showed another draw in U.S. crude inventories, while Iran said a deal to end sanctions on its oil sector remained elusive. View the full article
Oil hit a 32-month high as the rollout of coronavirus vaccines boosted demand expectations for Europe and the U.S., and confidence faded over a quick return of Iranian crude supply. View the full article
Futures in New York climbed past $67 a barrel, putting crude on track for a second straight monthly gain. OPEC and its allies are expected to stick with a decision to boost output in July when the group gathers Tuesday. View the full article
Oil posted a gain this week as expectations for growing economic activity in nations from the U.S. to Europe fueled optimism around stronger summer demand. View the full article
OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report. View the full article
Oil posted its biggest annual advance since 2009 as vaccination rollouts accelerated the reopening of economies, spurring global consumption while crude production returned at a more moderate pace. View the full article
Oil rallied Thursday afternoon after a report that the European Union is moving toward adopting a phased-in ban on Russian oil. View the full article
Oil pared gains after OPEC+ decided to maintain its current pace of supply increases despite President Joe Biden’s calls for more output, prompting speculation that the U.S. may tap its strategic reserves. View the full article
The situation could worsen as Big Oil makes another round of deep spending cuts, leaving consequences both for the oil market, which needs more supply from the OPEC cartel in the coming years, and the economic stability of a region that’s dependent on petroleum revenue. View the full article
The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter. View the full article
Expected declines in demand for fossil fuels are compelling major oil and gas companies to actively restructure their businesses to add renewable power projects in their portfolio. This will help these companies reduce their carbon intensity and align with the changing energy mix in the long run, according to GlobalData. View the full article
Oil and gas industry leaders are set to meet with White House National Climate Adviser Gina McCarthy Monday afternoon, as the Biden administration prepares to crack down on greenhouse gas emissions from fossil fuels. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. View the full article
Oil rallied as supply concerns took center stage with the EU threatening to ban Russian supplies this year and U.S. regional fuel inventories dropping to record lows. View the full article
Stockpiles at the biggest U.S. crude depot are quickly approaching critically low levels. The last time that happened, crude cost more than $100 a barrel. View the full article
Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. View the full article
Buoyed by high oil prices, the bosses of the biggest explorers this week laid out a vision for the energy transition that hinges on more fossil-fuel investment rather than less. View the full article
Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. View the full article
Oil climbed after Saudi Arabia signaled confidence in demand with a bigger-than-expected price increase of its crude for Asia. View the full article
Oil continued its advance from the highest close in seven years as the U.S. dollar fell and investors assessed the energy crunch roiling global markets. View the full article
Oil rose with the shutdown of Libya’s biggest oil field in an already under-supplied market overshadowing signals that China’s lockdowns are weighing on its economic growth. View the full article
Oil climbed, bookending another tumultuous week of trading, as investors weighed the prospect of a European Union ban on Russian crude and uncertainty over China’s virus resurgence. View the full article
A key spread between monthly oil futures contracts has blown out to the widest level in seven years as traders bet that U.S. crude inventories are about to get a whole lot tighter. View the full article
The oil market flashed its biggest bearish signal in months on Tuesday, indicating oversupply could be on the horizon through the first quarter of 2022. View the full article
As the number of failed British electricity suppliers continues to rise, two of the world’s largest oil and gas giants are feeling the ripple effect. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.