Industry Trends ///

U.S. could soon produce more crude than Saudis can at their peak

America’s journey to preeminence in the global oil trade is about to hit another milestone.

IEA sees oil demand growth defying economic slowdown

Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity.

Crude slips as record U.S. output undermines OPEC+ supply curbs

Oil retreated toward $51/bbl as record production in the U.S. undercut assurances from Russia that it will step up efforts to drain global supplies.

Russia aims to speed up oil output cuts as Saudis criticize pace

Russia is aiming to accelerate the pace of oil production cuts after its reductions drew criticism from Saudi Arabia.

Oil slides as U.S. production surge stokes fears of global glut

Oil prices gave up their gains Wednesday as U.S. production surged and fuel inventories climbed, stoking fears about an oversupply of crude.

Support for start-ups is helping to drive Total’s digital transformation

CES is truly the place to be for start-ups and more established businesses interested in gaining recognition for their disruptive innovations.

Russia eyes island storage for Arctic LNG amid China demand boom

Russia’s Novatek PJSC is looking at storing liquefied natural gas produced in the Arctic on Japan’s southern island of Kyushu so it can better meet spot demand from China and cut shipping costs.

India oil demand rises from four-year low as cash ban impact fades

India’s oil demand growth in 2018 rebounded from the slowest pace in four years as the country recovered from the shock of a cash ban and the roll out of a national sales tax.

Oil majors to increase offshore spending

After four years of cutbacks, oil companies are poised to develop new offshore fields, although the benefits won’t be spread equally across the OFS sector.

EDF unit is said to draw Neptune, Warburg for oil and gas assets

Electricite de France SA’s Italian unit has attracted potential bidders including Neptune Energy and Warburg Pincus’s Apex International Energy for its oil and gas business, people familiar with the matter said.

Top oil lobbyist warns of rising political risk in Norway

Norway’s oil industry is in full recovery mode, but the country’s top petroleum lobbyist is worried about growing opposition ahead.

EIA: U.S. LNG export capacity to more than double by the end of 2019

EIA projects that U.S. liquefied natural gas (LNG) export capacity will reach 8.9 Bcfd by the end of 2019, making it the third-largest in the world behind Australia and Qatar.

Canada's rig count plunges by more than half in two weeks

Where have all the rigs gone?

Oil edges up following report of tiny U.S. crude stockpile draw

Crude hovered near $45/bbl following a U.S. government report showing a fourth straight decline in oil stockpiles.

Amid export boom, U.S. still imports natural gas from Russia

The U.S. may be exporting natural gas at a record clip, but that hasn’t stopped it from accepting imports of the fuel, including a shipment of Russian gas likely headed for Massachusetts.

Texas job growth could take hit if oil rout drags on

Job growth in the Lone Star State will likely weaken in the first half of 2019 if oil prices remain at current levels, according to the Federal Reserve Bank of Dallas.

Oil watchers see $70/bbl in 2019 as recession fears fade

The world’s biggest banks are reckoning on a rebound in oil prices next year as fears of a recession prove misplaced.

Oil sell-off is deepest to follow an OPEC output cut in a decade

Crude’s recent sell-off is a grim reminder that OPEC’s management of the oil market isn’t foolproof. The group’s Dec. 7 decision to curb output among members and allied producers was supposed to prop up sinking prices.

Oil sands rebound in 2019 hinges on rail, output cuts, pipeline

The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out.

Oil retreats again after recovering from pre-holiday sell-off

Oil slumped again in New York, just after recovering from a pre-Christmas plunge, amid ongoing concern about the global economy.