Industry Trends ///

Oil set for weekly drop as Trump issues new trade threats

Oil headed for a third weekly loss amid concern escalating trade rows would undercut energy demand, undermining reassurances from Saudi Arabia that it won’t flood global crude markets.

Saudis pump more oil for Trump, then doubt if it's needed

Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production -- only to discover that global markets might not yet need it.

Schlumberger, Baker Hughes cruise oil exploration "upcycle"

Schlumberger Ltd., the world’s biggest oilfield services company, and No. 3 Baker Hughes have their sights set in different directions as they move into the second-half of 2018.

China chasing elusive shale boom nearly a decade after hunt began

China’s shale gas industry began with a long shot.

New York's global warming suit against oil companies tossed

A U.S. judge threw out New York’s suit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change.

Crude advances as Saudi Arabia dismisses oversupply speculation

Crude pushed higher after Saudi Arabia pledged not to flood world markets with oil.

Oil's hired hands are looking beyond shale to an overseas "boomlet"

The world’s biggest oilfield-service companies may have finally found something to talk about beyond the U.S. shale boom.

LNG terminal poised to boost struggling Canadian gas producers

A LNG terminal in British Columbia will re-focus people on Canadian gas, according to the manager of $377 million in assets for Bank of Nova Scotia.

Drillers burned off less natural gas in 2017, reversing a trend

Oil producers around the globe burned off less natural gas last year, reversing a trend that started in 2010 and sparked concern the emissions were contributing to climate change.

Diversity is in vogue again as oil investors see potential beyond shale

Suddenly, diversity is in again for the oil business.

OPEC said to seek legal strategy as U.S. pushes NOPEC bill

OPEC is consulting with lawyers to prepare a strategy to defend against proposed U.S. legislation that could open the cartel up to antitrust lawsuits, according to people familiar with the matter.

Trump or cheap Iranian oil? Dilemma facing fastest growing user

The U.S. embargo on Iranian oil shipments has put Prime Minister Narendra Modi in a quandary. If he plays along, India will side with President Trump on trade, but lose cheap supplies and foreign exchange.

WoodMac: ICE announces futures contract based on Permian crude to Houston

Today, the Intercontinental Exchange Inc. (ICE), an operator of global exchanges and clearing houses for the financial and commodity markets in the U.S., announced plans to launch a new Permian West Texas Intermediate (WTI) crude oil futures contract with physical delivery in Houston.

Goldman Sachs says U.S. political policy making oil volatile

U.S. political decisions are helping make volatility the new normal in the global oil market and muddying the outlook for prices, according to Goldman Sachs Group Inc.

Longshot oil riches draw wildcatters to the Utah desert

On hot days in Utah’s Uinta basin, rocks weep oil. Rivulets of black tar hint at the untapped riches within. Taken in hand, the stone crumbles, as warm and waxy as fresh asphalt.

Oil's double slump shows market roiled by week of bearish news

The oil market just performed a screeching U-turn.

EIA expects crude to average $73/bbl during second half of 2018, fall to $69/bbl in 2019

In the July 2018 update of its Short–Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that Brent crude oil prices will average $73/bbl in the second half of 2018 and $69/bbl in 2019.

Norway oil strike escalates with limited supply impact

Norwegian drilling workers escalated a strike early Monday, with the impact on the country’s oil production expected to remain limited to one North Sea field in the short term.

Crude falls on supply increase, U.S. weighs SPR release

Crude retreated below $70/bbl as Saudi Arabia is said to offer extra crude to some customers, while the U.S. will consider tapping emergency supplies to offset losses elsewhere.

Saudis offer extra oil in Asia as OPEC leader pumps more

Evidence is mounting that Saudi Arabia is heeding U.S. President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.