Forecast ///

Trump to make energy policy pitch in shale country

Donald Trump is poised to give his first substantive energy policy speech in North Dakota, a state eager to hear how he can help the industry recover from the worst downturn in a generation.

Iran's speedy oil revival unlikely to mean change in OPEC stance

Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude rallying, analysts see no immediate need for action.

Occidental's new CEO says company's transformation shifts gears

After three years of spin-offs and asset sales from Brazil to California, Occidental Petroleum Corp. is ready to start growing again, said CEO Vicki Hollub.

PSAC revises 2016 drilling forecast, significantly lowering activity

Today the Petroleum Services Association of Canada (PSAC), in its second update to the 2016 Canadian Drilling Activity Forecast, announced it revised the forecasted number of wells drilled (rig releases) across Canada for 2016 to 3,315 wells.

API: Key moment for next decade of U.S. energy leadership and affordable energy

API called on the administration to maintain and promote U.S. oil and natural gas development through the Bureau of Ocean Energy Management's (BOEM) 2017-2022 offshore program, API Group Director of upstream and industry operations Erik Milito said today in a briefing with journalists.

Iraq says OPEC, others to meet on output freeze possibly in May

Major OPEC and other crude producers will meet in Russia, possibly next month, in a new push to agree on an output freeze to shore up oil prices, Iraq’s Deputy Oil Minister Fayyad Al-Nima said.

Expected decrease in Lower 48 oil production partially offset by rising GOM output: EIA

In response to continued low oil prices, onshore crude oil production in the Lower 48 states is expected to decline from an average of 7.41 MMbpd in 2015 to 6.46 MMbpd in 2016, and to 5.76 MMbpd in 2017. Increased production from the federal Gulf of Mexico (GOM) is not enough to offset those declines.

Kuwait oil output set to return to normal after strike ends

Kuwait’s oil production is set to return to normal in three days after thousands of striking workers returned to their jobs Wednesday. OPEC’s fourth-largest producer will boost output to an average of 3 MMbopd in three days, Kuwait Petroleum Corp. said Wednesday.

LNG backers face comatose market as oil shows signs of life

As oil markets look for the green shoots of a price recovery, LNG participants are hunkering down for a long winter.

India becoming new center of oil demand growth

In the energy world, India is becoming the new China.

Drillers go rigless as price slump heralds austerity era

Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging.

For Israel energy explorers, bad news may be good news

The latest bout of bad news for Israel’s natural gas extraction plans may turn out to be a boon for energy explorers.

Norway to boost gas output as Russia, U.S. LNG supply increases

Norway will allow increased production from its biggest natural gas field as Europe’s second-largest supplier of the fuel prepares for increased competition with Russia and the U.S.

India open to U.S. imports in effort to diversify sources

India is open to buying crude from the world’s newest exporters, including the U.S., as it attempts to diversify its supply sources.

Sinopec to double natural gas output by 2020

China Petroleum & Chemical Corp., one of the country’s state-run energy giants, plans to ride a wave of new gas discoveries to double annual output to 40 Bcm by 2020, as the country pushes to replace coal with the cleaner fuel.

$40 crude not the only problem facing Norway's oil industry

The collapse of crude prices isn’t the only problem facing energy companies in Norway: Explorers in western Europe’s biggest oil-producing nation also have had their leanest drilling spell in almost a decade.

Oil extends gain from three-month high on falling U.S. output

Crude extended gains from a three-month high as U.S. oil production dropped, while central-bank policies put pressure on the dollar and improved the outlook for demand growth.

Oil investers see $7.4 billion vanish as dividends are targeted

The check is not in the mail. Bludgeoned by falling energy prices, at least a dozen oil and natural gas companies have opted to cut dividends this year to preserve cash, cannibalizing payouts considered sacrosanct by many investors.

Oil rises as Saudis to work with producers to stabilize market

Crude advanced as Saudi Arabia said it would work with other producers to curb market fluctuations and as China’s central bank stepped up efforts to support the economy.

Key nations keep pumping despite oil price decline

Staff, World Oil

Clinging to the notion that they are protecting market share, several OPEC members continue to overproduce deliberately, as do Russian operators, ensuring that the global market remains saturated.