Oil Prices ///

Alberta sees OPEC pricing go from too cheap to too pricey

Trying to fix the crude market has been hard enough for OPEC. Alberta’s go at it is proving a bigger challenge than the oil-rich Canadian province anticipated.

Oil hits 2019 high as OPEC+ re-commits to cuts in the near term

Oil closed at its highest yet this year as OPEC and its partners committed to continuing production cuts until at least June, when they will meet to discuss an extension.

OPEC+ affirms commitment to oil cuts, defers decision to extend

Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs.

Saudis urge OPEC+ to stick with oil cuts as job not yet done

OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said.

Exxon aims for $15/bbl costs in large Permian operation

Exxon Mobil plans to reduce the cost of pumping oil in the Permian to about $15/bbl, a level only seen in the giant oil fields of the Middle East.

Saudis head to OPEC+ talks reluctant to do Trump's bidding

Four months ago, Saudi Arabia’s devotion to its decades-old oil partnership with the U.S. was stronger than ever.

CERA Week 2019 Day 2 - Leadership

During Day 2 of CERAWeek 2019, the leadership dialogue continued with Chevron Chairman of the Board and CEO Mike Wirth, who spoke to the crowd about Chevron’s goals in the Permian basin and Gulf of Mexico.

Oil options trading jumps as large producer is said to hedge

Global oil options markets this week were the busiest since November after a flurry of buying from what appeared to be a large producer protecting against a drop in prices.

Oil rises to one-week high on Saudi cuts and weaker dollar

Crude rallied to the highest in more than a week as traders remained optimistic over Saudi Arabia’s planned production cuts and amid a weaker dollar.

Oil rises as Saudis are said to continue with deeper supply cut

Oil rose as Saudi Arabia was said to extend deep supply cuts into April.

Oil's big reset: Energy majors learn to thrive after price crash

When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed.

Oil slides on economy fears, stuck in tightest range since 2017

Oil fell as a weakening outlook for the global economy and rising crude stockpiles in the U.S. signaled that markets will remain comfortably supplied.

Crescent Point takes $2 billion write-down amid oil swings

Crescent Point Energy wrote-down the value of its assets by $2 billion to account for higher financing costs amid volatile crude prices.

Oil retreats as surprise jump in U.S. stockpiles hints at glut

Oil retreated for the second day in a row after U.S. crude stockpiles ballooned, casting a shadow over OPEC’s efforts to avert a global glut.

S&P lowers Mexico sovereign outlook to negative on AMLO oil plan

S&P Global Ratings lowered its outlook for Mexico’s sovereign debt to negative from stable, saying the nation’s shift to limit private sector involvement in energy could lower economic growth prospects.

Russia cuts February output deeper to comply with OPEC pact

Russia’s oil producers cut their output deeper in February as the nation strives to implement an agreement with OPEC following criticism that it was moving too slowly.

Nigeria boosts January's oil production, complies with OPEC in February

Nigeria implemented its portion of the OPEC+ production deal in February, said the country’s oil minister, a move that enhances the impact of supply cuts that have already boosted crude prices.

U.S. sanctions on Venezuela are a blessing to Colombian oil

U.S. Gulf refiners are bidding up prices for Colombian crude amid sanctions on Venezuelan imports, historically one of America’s top oil suppliers.

U.S. oil imports fall to lowest since 1996 on a weekly basis

The U.S. imported the lowest amount of crude oil on a weekly basis in 23 years, as production hit another record.

Saudis hold firm on oil output cuts after Trump says "relax"

Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against U.S. President Donald Trump’s demand to keep prices down.