By Alex Lawler – (Reuters) – Saudi state oil company Aramco has started trading a U.S. crude oil grade that underpins the...
In a surprising move that has sent shockwaves through the global oil market, Saudi Arabia has directed its state-owned energy giant, Aramco,...
Story By Julianne Geiger | OilPrice.com | Brazil’s natural gas imports fell to a 20-year low last year, according to data from...
In a significant development within the oil and gas sector, Diamondback Energy and Endeavor Energy Resources are on the verge of finalizing...
Story By Stephanie Kelly | REUTERS | Oil production in the prodigious Permian shale basin in Texas and New Mexico this year...
A Story By Andreas Exarheas | RigZone.com | North America signed the most long-term contracts for the export of liquified natural gas (LNG) in 2023,...
In the wake of Federal Reserve officials signaling a cautious stance on interest rate cuts, the oil and gas industry is bracing...
In the oil and gas sector, ExxonMobil, Chevron, and Shell have recently marked a significant shift towards rewarding investors, emphasizing a steadfast...
Jobs in Texas Petroleum Industry | A Story By Andreas Exarheas | RigZone.com |In 2023, the Texas oil and natural gas industry...
As the International Energy Agency (IEA) celebrates its 50th anniversary, a growing discourse suggests that the time has come for a significant...
The four Russian #oil and #gas majors trading in London (Moscow remains closed) have seen their combined market cap collapse by 95% or $190 billion since Putin ordered the attack on Ukraine last Thursday. pic.twitter.com/1lDzdzh6dv
— Ole S Hansen (@Ole_S_Hansen) March 2, 2022
BRENT's six-month calendar spread is signalling a severe shortage of oil as sanctions cut off exports from Russia. The spread is currently trading in a backwardation of more than $13 per barrel. Last time backwardation was this severe was in Sep-Oct 1990 after Iraq invaded Kuwait pic.twitter.com/tZ0NupP0A7
— John Kemp (@JKempEnergy) March 1, 2022
Oil prices surged over 7% on Tuesday to their highest since 2014, as a global agreement to release crude reserves failed to calm fears about supply disruptions from Russia's invasion of Ukraine, and instead underscored energy shortage concerns.
Members of the International Energy Agency (IEA), which includes the United States and Japan, agreed to release 60 million barrels of crude from their reserves to try to quell the sharp increase in prices that pushed major benchmarks past $100 a barrel. read more
Brent futures rose $7.00, or 7.1%, to settle at $104.97 a barrel, their highest close since August 2014.
U.S. West Texas Intermediate (WTI) crude rose $7.69, or 8.0%, to settle at $103.41. That was its highest close since July 2014 and its biggest daily percentage gain since November 2020.
The Yates Oil Field, located in the heart of the Permian Basin, remains one...
Whether the weakness persists will show up first in structure and stocks: if spreads...
Operators across the Lower 48 are entering a pivotal new phase of development, where...
The Oklahoma House Energy Committee recently took a hard look at how the Oklahoma...
Algeria has taken another major step to revitalize its oil and gas sector, signing...
In a rare win for both production and environmental performance, a new analysis by...
By Irina Slav for Oilprice.com | The amount of oil on tankers in transit...
Despite years of glossy sustainability campaigns and promises to lead the energy transition, the...
Story By Charles Kennedy |OilPrice.com| Texas’ inventory of orphaned oil and gas wells has...
Vortexa’s figures exclude oil in floating storage, defined as oil stored on stationary vessels...
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