Tag: crude oil

May 31, 2016

U.S. oil prices were lifted early on Tuesday by the start of the peak demand summer driving season, although international fuel markets were weighed down by rising output in the Middle East, which mostly serves Asian customers. U.S. West Texas […]

May 31, 2016

Few expected the US government to end its four-decade-old ban on crude oil exports, which barred shipments to countries other than Canada, anytime soon. Despite impassioned lobbying by  exploration and production (E&P) companies for years, few analysts expected any movement […]

May 24, 2016

A Forbes reader recently asked if I could address the evolution of U.S. oil reserves over time. So, today’s article provides a look back at the changes in oil reserves in the U.S. and globally since 1980. It is important to […]

May 13, 2016

When Will Supply Deluge and Price Rout End, and Will Oil Top $50 by 2017? : Continuing Market Uncertainty Puts Pressure on Global Crude Oil Price This research service aims to analyze the key factors effecting the price of crude […]

May 12, 2016

Oil prices fell on Thursday, dragged down by the gradual return of Canadian oil sands output, reversing a sharp rise the previous day when the U.S. government detailed an unexpected fall in crude inventories. International Brent crude futures were trading […]

May 11, 2016

Oil prices dipped on Wednesday as Canadian oil sand production was expected to gradually ramp up following forced closures due to wildfires, and as record crude inventories especially in the United States put pressure on markets. An ongoing fight by […]

May 10, 2016

The average price of gasoline has jumped by 9 cents over the past two weeks to $2.27 a gallon for regular grade. Read More on CNBC energy

May 9, 2016

In 2015, more than 70% of the crude oil produced in the Lower 48 states was light oil with an API gravity above 35 degrees. At the same time, 90% of imported crude oil was heavier, with a gravity below […]

May 6, 2016

Oil prices dipped on Friday, dragged down by a surging dollar that at least temporarily outweighed supply disruptions in North America, where a massive wildfire was threatening Canada’s huge oil sands operations. The dollar firmed against the euro and yen […]

April 27, 2016

Crude oil futures rose around half a dollar on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month’s bull-run could soon run out of steam. International Brent […]

April 19, 2016

Total U.S. energy production increased for the sixth consecutive year. According to data in EIA’s most recentMonthly Energy Review, energy production reached a record 89 quadrillion British thermal units (Btu), equivalent to 91% of total U.S. energy consumption. Liquid fuels […]

April 5, 2016

The fight for market share challenges production control efforts from oil producers amid the global crude glut, according to a former BP executive. “People’s objectives are very different and very difficult to reconcile,” John Browne, L1 Energy executive chairman, told […]

April 4, 2016

Oil prices fell in early trading on Monday as the chances of Middle East producers agreeing to curb overproduction appeared to fade, while U.S. output remains stubbornly high. Front month U.S. West Texas Intermediate (WTI) crude futures were trading at […]

March 29, 2016

Oil prices fell in early Asian trade on Tuesday as concerns mount that a rally since January is fizzling out, while analysts forecast another rise to record levels for U.S. crude stockpiles. U.S. oil was down 13 cents at $39.26 […]

March 22, 2016

Oil prices dipped in Asian trade on Tuesday, giving up gains from the previous session after data showed U.S. crude inventories fell for the first time since January and as commodity prices paused from their recent rally. There was no […]

March 10, 2016

U.S. monthly crude oil production in December 2015 continued to decline, as oil production reached its lowest level since November 2014. Production also declined from year-ago levels for the first time in more than four years. This continued production decline […]

March 4, 2016

U.S. crude futures rose in early Asian trade on Friday, buoyed by renewed optimism prices may have bottomed out after official data showed U.S. oil production fell to its lowest level since November 2014. U.S. crude futures had climbed 11 […]

February 29, 2016

Brent crude futures edged up on Monday after already making up ground last week as indications mounted of the market bottoming out, but analysts warned that downward risk remained and that it would take some time to work down a […]

February 22, 2016

Exxon Mobil Corp. has announced it added 1 billion boe of proved oil and gas reserves in 2015, replacing 67% of production, including a 219% replacement ratio for crude oil and other liquids. At year-end 2015, ExxonMobil’s proved reserves totaled […]

February 19, 2016

U.S. Gulf of Mexico (GOM) crude oil production is estimated to increase to record high levels in 2017, even as oil prices remain low. EIA projects GOM production will average 1.63 million barrels per day (b/d) in 2016 and 1.79 […]