Oil Prices ///

Saudi Aramco cuts oil prices to Asia, raises rates in Europe and Mediterranean

Saudi Arabia, the world’s biggest oil exporter, lowered pricing for September sales of all crudes to Asia while raising prices to buyers in northwest Europe and the Mediterranean region.

Oil drops as demand fears overshadow Iranian tanker seizure

Oil resumed its decline as a sharp drop in the Chinese yuan compounded fears that a deepening trade war will depress demand.

Oil market struggles to regain investor confidence after previous declines

West Texas Intermediate crude fell the most in 4 1/2 years on Thursday as President Donald Trump reignited demand worries with a threat of new tariffs on imports from China.

OPEC production lowest since 2014 as U.S. squeeze on Iran continues

OPEC’s output, already at the lowest since 2014, slid again last month as U.S. sanctions took a further toll on exports from Iran.

EIA: U.S. crude oil production continues to set records

U.S. crude oil production in each of the first five months of 2019 showed increases over their 2018 levels, with April 2019 establishing a new monthly record. Production grew the most in the Permian region and the U.S. Gulf of Mexico.

Oil surges as traders await fed cut, Iran clash squeezes supply

Oil surged as the Federal Reserve moved toward a rate-cut to boost the economy even as lingering tensions with Iran threatened to choke Middle East supplies.

T. Boone Pickens ETF to replace crude stocks with renewables

Oil tycoon T. Boone Pickens’ eponymous fund is swapping out one of its crude investment vehicles for renewables, seeing an opportunity in clean energy as fossil fuels get pummeled in the capital markets.

Oil advances most in almost three weeks as U.S. rate cut awaited

Oil rose the most in almost three weeks on speculation that demand will get a bump from a potential U.S. Federal Reserve rate cut aimed at spreading economic benefits more broadly.

Oman talks to Iran, other parties to restore stability to Strait of Hormuz

Omani officials are in talks with ‘all parties’ to restore stability to the Strait of Hormuz after recent threats to oil tankers and the freedom of navigation, Foreign Minister Yousef Bin Alawi said after discussions with Iranian officials in Tehran.

Breakoff of Chevron merger costs Anadarko $1.042-billion in Q2

Anadarko's second quarter 2019 results included a $1.042-billion charge for Chevron merger termination fees and other merger transaction costs, resulting in a net loss of $2.09 per share for the quarter.

Oil ends week higher as supply threats outweigh demand doubt

Oil prices fluttered near $56 a barrel in a volatile trading session that pitted gnawing doubts about global demand with supply threats from the Middle East and elsewhere.

Mexico’s president seeks to replicate India’s successes as Pemex slumps

AMLO seeks to invest $8-billion in a new refinery, modeled after Reliance's Jamnagar compound, while current refineries run below capacity and Mexico imports foreign fuel to meet demand.

Total profit drops as lower gas prices offset rising output

Total’s Q2 profit fell short of estimates as the price of natural gas and oil dropped, but record hydrocarbon production and continued cost cuts boosted cash flow.

OPEC+ mission to buoy oil market enters make-or-break phase

The latest mission by OPEC and its partners to contain an oil glut is entering its most critical phase.

EIA: U.S. oil producers increase shareholder distributions

The EIA reports first-quarter 2019 results for 43 U.S. oil producers indicate they have increased shareholder distributions through dividends and share repurchases during the past two years.

Oil extends rally as U.S. stockpiles and crude production slump

Oil’s rally picked up steam as U.S. crude stockpiles shrank and domestic output plunged the most in more than a year, adding to supply concerns as tensions escalate in the Middle East.

EIA: Saudi Arabia crude production hits four year low as export targets shift

The U.S. Energy Information Administration (EIA) reports that Saudi Arabia’s crude oil production approached a four-year low in May 2019, averaging an estimated 9.9 MMbpd, more than 1 MMbpd lower than its all-time high in November 2018.

U.S. sanctions China state oil trader for Iran crude deal

The U.S. has sanctioned a Chinese state oil trader for violating restrictions on Iranian crude, an attempt to tighten restrictions on the Islamic Republic and cut off one of its biggest buyers.

Faster Permian decline rates demand new investment, M&A strategies

Accelerating tight oil decline rates top a growing list of concerns for Permian basin operators, with unexpected production shortfalls prompting producers to consider stepping up drilling investment and M&A activity.

Iranian oil stacking up in Chinese ports adds to market uncertainty

Tankers are offloading millions of barrels of Iranian oil into storage tanks at Chinese ports, creating a hoard of crude sitting on the doorstep of the world’s biggest buyer.