Oil giant makes a significant move into blockchain just months after joining a development consortium with rivals BP and Statoil.
New EU directive will dent asset managers’ profits by lowering their effective fee rate and increasing their costs. according to Moody’s.
ICE has told customers it will move trading in many futures and options contracts on North American oil and natural gas liquids stateside.
With Canadian crude oil currently selling at an all time low, British Columbia’s shipping arteries could play a pivotal role in Asian crude arbitrage plays.
There’s little to suggest oil would substantially overshoot $60 or by the same token slump too far below $50 in 2018 – and that’s the range to take positions in.
OPEC and non-OPEC production cut decision is all about managing sentiment in a tricky market purely to maintain prices at the current levels over the near-term; that’s not going to solve anything.
While Russia’s end game to extricate itself from OPEC’s initiative is reasonably clear, how the cartel itself gets out of a situation of its own making is anything but.
Despite recent price spikes, the oil market has not broken its three-year bear run to enter a sustainable bullish mode.
As soon as bears or bulls try to dominate the oil market in 2018, a tug in the opposite direction would neuter the other with Saudi Arabia, Russia and the U.S. all likely to pump in excess of 10 million bpd of crude.
In the absence of an exit strategy to its production cut drive – currently caught up in shaky compliance by members – the unforgiving oil market is watching OPEC but Iraq says its not the cartel’s proverbial “bad boy”.
It’s conceivable technology giants – already visible as minor sponsors – might step up their game or seek a different relationship with Formula One as it attempts to woo millennials.
Forecasters currently predict the storm would move up the Texas coastline toward Louisiana and cause widespread disruption at US refining facilities, potentially knocking out up to 32% of output.
If crude oil supply-side permutations delight the bears in the market, demand scenarios for 2018 ought to comfort them too.
If ongoing short to medium-term supply and demand scenarios are what they are, there is little evidence to suggest the oil price can break its current range barring a major political driver.
Lower OPEC market share or higher OPEC production, whichever way you look at it, bearish sentiment is not dissipating any time soon.
The tenacity of U.S. independent oil explorers is back with a bang and could take American crude exploration to new heights regardless of what OPEC does.
OPEC and selected non-OPEC oil producers have decided to roll over their 1.8m bpd output cuts to March 2018, but it will not prove to be quite the tonic those hoping for higher prices crave.
With U.S. oil production on track to post its highest ever production level in 2018, OPEC’s strategy is getting increasingly caught between a rock and a hard place.
The days of factoring in a default $10 risk premium in the oil price have long gone, a risk discount could just as well come into view.
The agreement for the North Sea Forties Pipeline System to change hands also brings home the truth that with the region’s heydays behind it, the oil majors are retreating from maturer prospects.
There are plenty of British political uncertainties on the horizon, from Brexit to another Scottish Referendum, yet North Sea oil and gas operators are thriving amid the policymakers’ tussle.
Speculators’ calls and oil market reality have not been in sync; now it has all unravelled courtesy of comments by Saudi Energy Minister Khalid Al-Falih.
The current near-equilibrium in the oil price is likely to last a while longer with bearish and not bullish market fundamentals lurking in the background.
Latest projection and modelling suggests the US is on a path towards becoming a net energy exporter by 2050; nothing would please President Donald Trump more as he runs the White House with the most pro energy credentials of any US president in recent …
With the end of oil trading year 2016 in sight, the most surprising moment for many industry observers was the revelation late in the annual cycle that Russia would work with the Organization of Petroleum Exporting Countries (OPEC) to lower crude produ…
After the Organization of Petroleum Exporting Countries (OPEC) penciled in an oil production cut of 1.2 million barrels per day (bpd) to 32.5 million bpd on 30 November, the crude futures market rallied. Given that it was OPEC’s first move to cut produ…
Following one of its most intensely negotiated ministers meeting, the Organization of Petroleum Exporting Countries (OPEC) has delivered a plan to cut crude production in a bid to support the oil price. In fact, on paper the cartel’s proposed cut – published at the conclusion of its 171st Ministers’ meeting in […]
The oil market is fast losing faith in OPEC’s ability to deliver on its much promised production cut from 34.6 million barrels per day (bpd) to a range of 32.5 to 33 million bpd, made in Algiers on 28 September. Iran, Libya and Nigeria were never going to partake in the […]