Daily News

Trump sets implied oil price target below $80

The United States has sent mixed messages to OPEC and its allies over the last week about whether they need to do more to raise oil production and hold down prices. “We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push […]

By September 21, 2018 0 Comments Read More →

Iran: We Won’t Let OPEC Boost Production

OPEC does have a meeting in the coming days in Algiers to assess the state of the oil market, and decide on next steps. But one of the largest near-term challenges for OPEC is balancing the oil market in the wake of lost barrels from Iran – a key factor driving up prices and also a fact […]

By September 21, 2018 0 Comments Read More →

TRUMP THREATENS OPEC OVER RISING OIL PRICES: ‘WE WILL REMEMBER’

President Donald Trump continued to attack the Organization of the Petroleum Exporting Countries (OPEC) on Twitter, demanding Thursday morning that the cartel stop raising oil prices. The president’s warning comes before OPEC and Russia — which is not an official member — are due to meet Sunday in Algeria. The international oil cartel will decide if they […]

By September 21, 2018 0 Comments Read More →

Trump hit Iran with oil sanctions. So far, they’re working.

When President Donald Trump announced in May that he was going to withdraw the United States from the nuclear agreement that the Obama administration and five other countries negotiated with Iran in 2015 and reimpose sanctions on the country, the decision was fraught with potential disaster. If Trump’s approach worked too well, oil prices would […]

By September 21, 2018 0 Comments Read More →

Oil Output Will Rise; Mexico Begins Contract Review

Oil output will rise next month, but at its lowest level since late 2016—according to the U.S. Energy Information Administration. Output from seven major U.S. shale formations is expected to rise to 7.6 MMbbl/d. The Permian is expected to rise 31,000 bbl/d while the Haynesville—the smallest of the seven plays—is expected to be unchanged at […]

By September 21, 2018 0 Comments Read More →

Private equity boosts activity in the Gulf of Mexico

The offshore oil and gas sector is beginning to rebound worldwide, but the Gulf of Mexico is recovering more slowly because of the industry’s focus on onshore shale. More private equity players,however, are injecting funds and jumpstarting new drilling activity in the Gulf to fill the void left by many of the larger independent exploration […]

By September 21, 2018 0 Comments Read More →

Trump seeks middle ground in ethanol feud between oil, corn

President Donald Trump’s Environmental Protection Agency is taking a step to boost transparency for the country’s ethanol mandate, a move that could draw rare mutual applause from both farmers and oil refiners. On Thursday, the EPA unveiled a website that tracks prices for Renewable Identification Numbers, or RINs — the credits oil refiners need to […]

By September 21, 2018 0 Comments Read More →

Energy Department warns that oil drillers are leaving Texas amid pipeline woes

The Energy Department says a lack of pipelines is beginning to drive oil companies out of the big shale region known as the Permian Basin, as they focus investment in regions where the oil is easier to get to market. The Energy Information Administration released its latest weekly oil analysis on Wednesday, focused on the […]

By September 20, 2018 0 Comments Read More →

North Dakota Oil Production Soars to Record High in July

As per North Dakota’s oil regulator, the state’s daily crude output rose 3.4% in July after edging down 1.6% in the previous month. The North Dakota Department of Mineral Resources’ (‘DMR’) latest data said that oil production in July averaged a record 1,269,366 barrels a day, up 42,046 barrels a day from June. To put […]

By September 20, 2018 0 Comments Read More →

Oil Prices Inch Higher On Crude, Gasoline Draw

After API’s latest surprise inventory build pressured oil prices, the Energy Information Administration cheered the market up by refuting the build and reporting instead yet another weekly draw, of 2.1 million barrels for the week to September 14. Last week, the authority estimated crude oil inventories had fallen by another 5.3 million barrels, indicating that […]

By September 20, 2018 0 Comments Read More →