UBS is upgrading Chevron to buy, saying the oil and gas giant is positioned to weather a sudden drop in crude prices. » Read More
By: Sam Meredith
The level of crude output from the U.S. will once again be a major factor this year, the IEA said its closely-watched report on Friday. » Read More |
Natural gas prices spiked on Monday on forecasts showing the severe cold gripping the United States will persist longer than previously thought. » Read More |
By: Natasha Turak
The blocks are the first to be awarded as part of Abu Dhabi's first-ever competitive open block licensing round. » Read More |
OPEC Secretary General Mohammed Barkindo is largely optimistic over prospects of achieving a balanced oil market in 2019.
OPEC members, along with several non-OPEC countries like Russia, in December agreed on output cuts totaling 1.2 million barrels per day.
While North American shale may be competition for OPEC members, some crude-exporting countries in the Arabian Gulf are simultaneously taking advantage of the commodity's ability to fuel lucrative investments beyond oil.
Oman's oil minister thinks President Donald Trump has given OPEC some undue flak. But echoing other Gulf ministers, Mohammed bin Hamad al-Rumhi stressed his desire to steer clear of political animosity with the American leader.
OPEC listens to what the U.S. has to say when it comes to oil prices and production but "always does the right thing," according to the United Arab Emirates' energy minister.
BP on Tuesday announced a massive discovery in the Gulf of Mexico and a $1.3 billion investment in another offshore field.
With 28 countries and a combined population of around 512 million people, the European Union is something of a prized market when it comes to natural gas.
Goldman Sachs downgraded its oil price forecasts for 2019, citing a surge in global production and surprisingly resilient U.S. shale growth.
Drivers are loading up on new cars, and average payments have hit record highs.
President Donald Trump set in motion a vast rollback of energy, climate and environmental regulations. Democrats will spend much of the next two years scrutinizing those actions.
If OPEC does not cut output by 1.2 million barrels a day for all of 2019, oversupply could push international benchmark Brent toward levels near $55 a barrel, according to J.P. Morgan's Scott Darling.
A seasonal shift in refinery activity has helped turn gas into 'the unwanted hydrocarbon', an oil expert tells CNBC.
Investment bank Jefferies cut its price targets for offshore drilling stocks on Friday, saying the collapse in oil prices has made an anticipated recovery for the beaten-down sector in 2020 unlikely.
Stocks of oil production companies such as Diamondback Energy will ultimately win out in an environment with low crude prices, says energy analyst Mike Kelly.
Crude oil will remain oversupplied in the first quarter of 2019 as the market works through stocks, said energy information provider Argus Media.
Oil prices plunged to their lowest levels in over a year on Thursday, deepening a sell-off fueled by concerns about oversupply.
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