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Libya expects its oil production to drop by another 200,000 barrels a day over the next week as workers try to fix a damaged pipeline. View the full article
CSA Ocean Sciences Inc. announced the conclusion of an Environmental Assessment Program for a major offshore energy operator in Block 58, a 5,841 km2 area approximately 115 km (71 mi) offshore north Suriname in South America. View the full article
Time will tell which one is out of sync: Is it a forward oil curve that yields 11% on an annualized basis for investors, or is it a headline price of West Texas Intermediate crude near $83 a barrel? View the full article
A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday, and Goldman sees the rally accelerating as consumption outpaces supply from OPEC and shale. View the full article
Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. View the full article
Crude is up over 4% so far this month, though a further price breakout is being held back by a tepid recovery in Asia, where the coronavirus is crippling key importer India, and Singapore and Taiwan grapple with new outbreaks. View the full article
Brent crude now trades above fiscal breakeven prices for the four biggest oil producers in the Middle East after Saudi Arabia convinced fellow OPEC+ members to keep output largely unchanged. View the full article
The oil futures curve is continuing to indicate tightness. The market is in a backwardation of almost $6 a barrel for the next 12 months, a structure that indicates scarce supplies. View the full article
At present, OPEC+, the Organization of Petroleum Exporting Countries plus Russia, resembles an unstable nucleus of a radioactive atom; judging by what we hear on political front, there seems to be an uneasy compliance with self-imposed quota-limits with murmurs of cacophonies.
Although crude price dipped slightly over the past two days, it is still high and countries that desperately need petro cash to prop up under-performing economies are deprived of a once-in-a decade opportunity to ca
At 04:27 GMT on Monday, Brent crude price went up by $1.09, a rise in 1.8%. WTI crude, meanwhile, gained $1.28. Analysts may think the stimulus package announced by the Biden administration and the hopes of success of the vaccination programmes across the world are behind the spike in crude price in the morning hours in Asia.
It, however, was triggered off by a drone operation aimed at Saudi Arabia by Houthi rebels. According to Saudis, a drone, laden with explosives, was detected by the Sa
I have been looking at many charts that depict the current oil prices and even created one for my own website/blog using the weekly oil price data since 1987, from the EIA, the US Energy Information Administration.
Despite all that, sensing the trend, upward or downward, on weekly basis is as ridiculous as betting on the foot that a centipede will put ward in order to shorten its crooked path.
I am sure this must be the nightmare of every chartist who lurches on the uncertainty of cru
People in Texas are suffering at present on an unprecedented scale and when the city mayor shot himself in the foot, while the response should have been a shot in the arm – not in vaccine sense – it hardly helps to boost the morale of ordinary people, let alone the vulnerable.
Clearly, the demand of electricity has outweighed supply and the risks of wind power as a substitute are there for all to see. How many of us saw this coming – the frozen wind turbines? I certainly is not one of them.
Citizens for Responsible Energy Solutions Executive Director Heather Reams commended the formation of a Republican climate task force in Congress. View the full article
China is renewing restrictions and canceling flights as a Covid-19 resurgence in Asia’s top oil consumer sends jitters across the crude market. View the full article
By leveraging the combined strengths of their digital oilfield solutions, the partnership provides a single, unified solution to accelerate innovation and optimize every completions operation. View the full article
Azerbaijan, which has the presidency of the 29th United Nations’ Conference of the Parties, exported almost 24 Bcm of natural gas in 2023 with half of the volumes going to Europe, according to Energy Ministry data. View the full article
The UK won’t join an alliance of countries fixing a date to phase out fossil fuel production, in a move that calls into question the COP26 host nation’s climate leadership. View the full article
The UK, the U.S. and 18 other nations are signing a joint statement committing to end funding for foreign oil, gas and coal projects by the end of next year, while prioritizing support for clean energy, according to people familiar with the matter. View the full article
Signing the pledge, being released at the COP26 climate summit Tuesday, would amount to shared recognition of the problem posed by the potent greenhouse gas — not a “burden” to cut individual emissions, America’s climate envoy John Kerry said. View the full article
France has joined a group of countries and states that support fixing a date to end fossil fuel exploration, putting its name to an initiative that was snubbed by the UK View the full article
The Biden administration is launching an assault on methane Tuesday, advancing initiatives across government - and the globe - to keep the potent, heat-trapping gas from escaping landfills, oil wells and farms. View the full article
ConocoPhillips and Diamondback Energy both got a boost from surging natural gas prices in the first quarter, as a February deep freeze in the central U.S. stoked demand for the heating and power-plant fuel. View the full article
The move expands ConocoPhillips’ footprint in domestic shale fields from Texas to North Dakota and hands the company reserves as far afield as Equatorial Guinea. It adds to a wave of recent megadeals as producers seek new drilling sites on a bet that oil and gas demand will remain robust for years to come. View the full article
ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost the amount of carbon the company pumps into the atmosphere. Yet the company says the pact will actually allow it to reach one of its climate goals faster. View the full article
ConocoPhillips is marketing its Williston Basin oil assets for a potential sale, according to people with knowledge of the matter. 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.
