Industry Trends ///

Oil pares losses after biggest U.S. crude stock draw since 2016

Crude pared losses after a government report showed the biggest decline in domestic crude inventories since September 2016, yet fears of an escalating trade war with China overshadowed the drop.

Oil patch has fastest-rising rent in U.S.

Want to rent an apartment near the biggest U.S. oil patch? It’ll cost you.

Nigeria takes first step in $12-billion LNG expansion plan

Nigeria is taking its first steps to expand its LNG capacity by a third, outlining a $12-billion program to keep up with the world’s biggest producers.

Trump and Merkel exchange barbs in showdown over Russia’s pipeline

Donald Trump and Angela Merkel traded barbs at a NATO summit as Trump blasted Germany over its support for a gas pipeline from Russia.

Trump’s OPEC tweets have Putin preparing for oil talks

When Russian President Putin meets Donald Trump next week, he’ll be armed to discuss oil production following the U.S. leader’s series of tweets targeting OPEC.

Libya's eastern oil exports to resume on ports deal

Libya’s eastern oil ports will resume shipments after the state energy producer regained control of the terminals following clashes in the region last month.

Oil falls as trade war escalates

Oil fell toward $73/bbl in New York after U.S. President Donald Trump escalated a trade war with China, heightening fears that global economic growth could be caught in the cross-fire.

U.S. said to meet Saudi leaders to discuss Iran oil sanctions

U.S. government teams spent three days in Saudi Arabia discussing ways to cut off money flows to Iran without disrupting energy markets.

OPEC sees rival supplies growing most in five years in 2019

OPEC expects supplies from its rivals to increase by the most in five years in 2019, with extra oil from the U.S. alone sufficient to meet the growth in global demand.

Trade war turmoil could leave energy unscathed, Husky CEO says

The energy industry is one of the safest sectors to be in as U.S. President Donald Trump instigates a global trade war, Husky Energy Inc. CEO Rob Peabody said.

U.S. is set to become world's top oil producer, government says

The U.S. government sees oil production further climbing next year even amid transportation logjams in the country’s most prolific shale play.

Oil strike in Norway shuts Shell field as escalation looms

A strike curtailed oil production off Norway for the first time in six years as Royal Dutch Shell Plc shut a North Sea field and workers threatened to escalate labor action during the weekend.

EIA: China is a key destination for increasing U.S. energy exports

In recent years, as its domestic energy consumption has grown, China has become a more significant destination for U.S. energy exports. In particular, China has been among the largest importers of U.S. exports of crude oil, propane, and liquefied natural gas.

OPEC says it's doing best to supply market, but won't overdo it

OPEC and its allies are doing what they can to offset crude output shortfalls that have kept global supplies tight and prices high, but they don’t want to overdo it.

U.S. allies starved of Iran oil even before Trump's deadline

Iranian oil shipments to some U.S. allies are being threatened even before America’s Nov. 4 deadline for buyers to curb imports and comply with renewed sanctions on the OPEC member.

Worthless just two years ago, West Texas sand now brings in billions

Standing high on top of a windswept dune in the West Texas plains, Greg Edwards stares out into a vast ocean of sand.

U.S. oil could soon help set the Brent crude price

S&P Global Platts, the company that sets the key price of Brent crude, is contemplating the eventual incorporation of U.S. oil to help calculate one of its newest European benchmarks, a sign of just how much America’s booming exports are reshaping global energy trading.

Oil exploration expands in U.S. with crude reaching $75

Oil explorers deployed more rigs in the U.S. this week as crude prices breached $75/bbl for the first time since 2014.

There are fears about an oil spike above $150

Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is setting the stage for an unprecedented crude price spike, according to Sanford C. Bernstein & Co.

Trade tensions loom over world’s fastest-growing fossil fuel

The world’s fastest growing fossil fuel is bracing for a direct hit from increasing global trade tensions.