Brent oil declined as investors looked for signs of compliance by OPEC and other producers with an output-reduction accord.
Liquefied natural gas prices falling to the lowest in a decade last year spurred fresh demand while suppressing investment in new production, potentially leading to shortages and price spikes next decade, according to a new Bloomberg New Energy Finance (BNEF) report.
The amount of oil discovered last year was the lowest since the 1950s as explorers slashed spending amid the worst downturn in a generation, according to Wood Mackenzie. The good news: It can probably only get better from here.
North American E&P companies have more than tripled hedging protection for their 2017 production since April 2016, with 24% of total 2017 production now hedged, according to new analysis from IHS Markit.
Energy companies in the Middle East reduced their borrowing by 26% in 2016 as an increase in oil prices late in the year provided revenue needed for exploration and production.
Oil investors seem to have less reason to doubt that OPEC and other producers will make the cuts needed to balance the market.
Call it a pre-Christmas lottery ticket, but someone in the oil market has been busy making a bold bet, buying contracts that will be profitable if oil surges again to $100/bbl.
Oil climbed before government data forecast to show U.S. crude inventories dropped for a fifth week, trimming a glut.
Oil prices boosted by global output reductions will be capped because of new supply before long, according to Goldman Sachs Group Inc. The cuts by OPEC members and nations outside the group, as well as strong demand growth, will probably help curb inventories by next summer, analysts including Damien Courvalin said in a note dated Dec. 16. While the bank raised its oil-price forecasts for the second quarter of 2017, it decreased its crude estimates for 2018 on concern that new production will enter the market.
As tax reform and regulatory easing across the U.S. oil and gas industry are anticipated in a new administration, EY expects innovation in financial and operational excellence will be a main driver of value and competitiveness in 2017.
Schneider Electric, the global specialist in energy management and automation, has announced a collaborative project with Landmark, a Halliburton business line and provider of integrated E&P software.
Kuwait and Saudi Arabia agreed that any resumption of crude production from shared oil fields along their border won’t raise their output beyond limits set at an OPEC meeting last week, according to two officials familiar with the talks.
OPEC’s agreement to cut production for the first time in eight years has the potential to balance the oil market, as long as everyone sticks to it, former Saudi Arabia Oil Minister Ali al-Naimi said.
OPEC’s decision to shrink oil production is both a blessing and a curse for natural gas markets.
David Hunt, CEO of PGIM, Prudential Financial Inc.’s $1-trillion asset manager, cautioned against overreacting to the surge in oil prices as OPEC clinched a deal to curtail supply.
The oilfield service companies that supply everything from sand to sophisticated robot rigs are seeking a new lease on life as America’s fracing fortunes begin to turn.
The next global energy transition is already under way, posing risks for some of the world’s largest energy companies.
OPEC’s most senior official said the organization and other major oil producers are “on course” to deliver a deal next month that will temper the global oversupply.
Crude in New York is set for the first weekly drop since mid-September as an OPEC committee meets to discuss how deeply some of its members should cut production to comply with the group’s pledge to reduce supply.
Mexico's wide-ranging energy reform, which began in 2013, is expected to reverse the country's declining oil production, increase the share of renewables in the power sector, and slow the growth in carbon emissions, providing a solid foundation for robust economic growth in the coming decades, according to the International Energy Agency.