U.S. energy firm Anadarko Petroleum Corp on Tuesday gave the go-ahead for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa. The announcement, which occurred at...
Read moreU.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bpd) in July to a record 8.52 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on...
Read moreSaudi Energy Minister Khalid al-Falih said on Saturday that he hopes oil producers will be able to balance the oil market before next year. “We hope that we will balance the market before next year. We are working on it,” Falih told...
Read moreOPEC and other producers including Russia are in final talks for an agreement, that may be signed in early July, to cooperate on oil supplies on a long-term basis, Japan’s Nikkei reported, citing Russian energy minister Alexander Novak...
Read morePresident Donald Trump said on Wednesday he was considering sanctions over Russia’s Nord Stream 2 natural gas pipeline project — which the United States has told European companies to avoid — and warned Germany against being...
Read moreIraqi Oil Minister Thamer Ghadhban said on Friday that OPEC and its allies were most likely to extend their global oil output deal until the end of the year when they hold their policy meeting in coming weeks, RIA news agency reported. The...
Read moreUS stock markets just enjoyed their best week of the year on speculation that the Federal Reserve would once again ride to the rescue of equities and inflate asset prices by cutting rates. The S&P 500 index is sporting double digit percentage...
Read moreRBC Capital Markets’ Helima Croft blames the U.S.-China trade war for oil’s drop into bear market territory. According to the firm’s global head of commodity research, bullish sentiment around crude has been damaged by global growth fears sparked...
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Read moreRussia’s average daily oil output has dropped to a three year-low after contaminated crude clogged its main export route. Average oil output was 10.87 million barrels per day (bpd) on June 1-3, down from an average of 11.11 million bpd in...
Read moreOil prices were pressured on Tuesday by an economic slowdown that has started to impact fuel consumption, although some support came from a Saudi Arabian statement that consensus was emerging with other producers over extending supply cuts...
Read moreU.S. Energy firms this week increased the number of oil rigs operating for the first time in four weeks but cut the rig count for the sixth straight month as most drillers cut spending plans. Companies added three oil rigs in the week to May 31...
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