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March 7, 2021

Oil

Goldman hikes Brent forecast, says ‘shale discipline’ behind OPEC strategy

Reuters
FILE PHOTO: A drilling rig is seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. REUTERS/Agustin Marcarian/File Photo (Reuters) – Goldman Sachs Commodities Research raised its Brent forecast for second and third quarter by $5 a barrel after OPEC and......

U.S. oil production won’t return to pre-pandemic levels, says Occidental CEO

CNBC
CNBC – For more and to sign up click here The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas. Angus Mordant | Reuters Occidental CEO Vicki Hollub said Thursday that she doesn’t envision U.S. oil production returning to pre-pandemic highs. “I......

Saudi Arabia says oil market recovery remains uncertain

Reuters
FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – Saudi Arabia’s energy minister said on Thursday that the situation in the oil market had improved but the outlook for a recovery......

Major oil producers to review supply cuts in critical OPEC meeting

CNBC
CNBC – For more and to sign up click here VIENNA, AUSTRIA – 2018/06/20: OPEC logo is seen at the Organisation of Petroleum Exporting Countries (OPEC) building in Vienna. The 174th OPEC meeting will be held on the 22th June 2018 in Vienna. (Photo by Omar Marques/SOPA Images/LightRocket via Getty......

The oil industry is getting greener much more quickly as U.S. focus shifts to climate change

CNBC
CNBC – For more and to sign up click here A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford | Reuters The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s......

OPEC+ calls for “cautious optimism” despite oil price rally: document

Reuters
FILE PHOTO: The logo of the Organisation of the Petroleum Exporting Countries (OPEC) sits outside its headquarters ahead of the OPEC and NON-OPEC meeting, Austria December 6, 2019. REUTERS/Leonhard Foeger LONDON (Reuters) – A panel of experts of OPEC and allies, known as OPEC+, believes a recent oil price rally......

Saudi Aramco, Chevron chiefs see global oil demand recovery

Reuters
(Reuters) – Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executive of Saudi Aramco told an oil and gas conference on Tuesday. Global demand for oil is likely to recover from the second half of the year and could reach 99 million......

Saudi and Russia are at loggerheads again, but OPEC meeting ‘unlikely to ruin the oil party’

CNBC
CNBC – For more and to sign up click here Saudi Minister of Energy Abdulaziz bin Salman (R) is pictured with his Russian counterpart Alexander Novak as they arrrive for a meeting of the Saudi-Russian Joint Committee on December 19, 2020. FAYEZ NURELDINE | AFP | Getty Images LONDON —......

Oil optimism unwinding market’s mad dash for storage

Reuters
LONDON/NEW YORK/SINGAPORE (Reuters) – When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts. FILE PHOTO: Crude oil storage tanks are seen......

Israeli team in Greece probing ship suspected of oil spill, ministry says

Reuters
JERUSALEM (Reuters) – Israel has sent investigators to Greece to inspect a ship suspected of causing an oil spill that has covered much of Israel’s shoreline with tar, the Environment Protection Ministry said on Saturday. Israel has been looking at a spill from a ship that passed about 50 km......

NYSE starts move to delist Chinese state oil producer CNOOC

Reuters
FILE PHOTO: Logos of China National Offshore Oil Corporation (CNOOC) are displayed at a news conference on the company’s interim results in Hong Kong, China, March 23, 2017. REUTERS/Bobby Yip (Reuters) – The New York Stock Exchange on Friday decided to begin formal delisting of Chinese state oil giant CNOOC......

Texas freeze helps rival oil exporters like Saudi Arabia ‘tremendously,’ may influence OPEC decisions

CNBC
CNBC – For more and to sign up click here Pump jacks operate in the Permian Basin in Midland, Texas, U.S, on Saturday, Feb. 13, 2021. Matthew Busch | Bloomberg | Getty Images The shock winter storm in Texas that left millions without power and took dozens of lives also......

Israel’s Beaches Are Littered With Tar After Mysterious Oil Spill

New York Times
New York Times – For more and to sign up click here “In Israel, we have maritime domain blindness,” said Shaul Chorev, a retired rear admiral in the Israeli Navy who is now head of Haifa University’s Maritime Policy and Strategy Research Center. “Our activities are always focused on foiling......

Petrobras gets single offer from SBM for Mero 4 oil platform – sources

Reuters
A man walks past the headquarters of Brazilian oil company Petrobras in Rio de Janeiro, Brazil, February 22, 2021. REUTERS/Ricardo Moraes RIO DE JANEIRO (Reuters) – Brazil’s state-controlled oil company Petrobras received only one proposal, from Holland’s SBM Offshore, in a bid to contract construction of the Mero 4 oil......

Oil prices rise further on slow U.S. output restart

Reuters
SINGAPORE (Reuters) – Oil prices rose again on Tuesday after a jump in the previous session, holding near a more than 13-month high as U.S. output was slow to return after a deep freeze in Texas shut in crude production last week. FILE PHOTO: An employee holds a sample of......

Oil gains as U.S. production slowly returns after freeze

Reuters
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo TOKYO (Reuters) – Oil prices rose on Monday as the slow return of U.S. crude output that was cut by frigid conditions raised......

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