Die another day—oil markets misunderstood OPEC’s recent outlook for oil demand to plateau in late 2030s, Stratas Advisors says in its latest oil price forecast.
Shell, which decided to build the plant in 2016, has not provided a cost estimate for the facility. Analysts have estimated the project will cost $6 billion to $10 billion.
U.S. energy firms last week added oil and natural gas rigs for a third week in a row for the first time since October 2018 after price increases in recent months prompted some producers to start drilling again.
Dear Prudence—trading floors will be a major challenge for oil markets, Stratas Advisors says in its latest oil price forecast.
The first of a group of three tankers carrying Iranian fuel for gasoline-starved Venezuela entered the waters of the South American nation on Sept. 28, according to Refinitiv Eikon data.
So far in 2020 the oil market has seen Brent crude plummet, the U.S. lose 3 million bbl/d of crude production and European refiners more than halve utilization rates. However, as incredible as it seems, the worst might be yet to come, Stratas Advisors says in its latest oil price forecast.
Crude oil production slipped to 10.7 million bbl/d, down in part due to storm activity that closed offshore drilling sites in the U.S. Gulf of Mexico.
The first cut is the deepest…or not? OPEC+ will likely need to add oil output cuts soon, Stratas Advisors says in its latest oil price forecast.
Shell shut its Appomattox oil platform about 80 miles off the coast of Louisiana, joining BP, Chevron and Equinor in closing facilities in the U.S. Gulf of Mexico less than one month after Hurricane Laura.
From Russia with...honesty—a surprisingly bearish outlook from Russian Energy Minister Alexander Novak provided evidence of cohesion in the extended OPEC+ agreement on oil production cuts.