According to Bloomberg, the Russian Energy Ministry issued a statement that "Energy Minister Alexander Novak and the heads of Russia's biggest oil companies discussed the possibility of working with OPEC."
Inventories will continue to rise, but the momentum is slowing.
Oilprice.com recently spoke with Carl Larry, Director of Oil and Gas at Frost & Sullivan, a consultancy that conducts research on oil and gas markets, to get his thoughts on the state of oil in 2016.
The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries.
Canadian Oil Sands is a weak company that has consistently missed many quarterly targets and is focused on one of the least attractive areas of the oil patch at current prices.
Oil prices jumped on the first trading day of 2016 as Middle East tension outweighed a selloff in financial markets around the world.
OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs.
Well the answer is complicated by a number of factors most importantly, we just don't know a lot of about Santa's rounds, the shape of the sleigh, the air speed of the craft, or the weight of all those presents. But, we can take some educated guesses.
As producers confront this unpleasant reality, some will finally start to significantly curtail or even shut down operations. And that is going to severely hurt an all but invisible group; strippers in the United States.
There has been some revealing new information coming out recently regarding the strategy against ISIS.
Robert Bensh—managing director and partner at Pelicourt, a Western-owned oil and gas company discusses navigating tricky conflict zones.
Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.
Drilling oil and gas wells requires a lot of money. For companies that have seen their revenues vanish because of collapsing oil prices, access to credit is obviously critically important.
One casualty of the oil price downturn could be the megaproject.
Elon Musk famously proposed the idea of the Hyperloop a few years ago, and suggested it could be a revolutionary method for travel based on available technology today.
Nevada is booming as new lithium companies rush in to stake out targets and massive business development gets underway, from Tesla to Amazon and Apple.
Why is it that the responsibility for balancing the market falls on OPEC? Why should OPEC be the one to fix the imbalances in the global crude oil trade?
October has been billed as a pivotal month in which indebted shale companies would see their credit lines cut, precipitating a faster consolidation in the industry that would sow the seeds of a rebound.
While the sharp decline in crude prices has saved crude consuming nations hundreds of billions of dollars, the loss in revenues has caused crude exporting countries intense economic and financial pain.
Since 2009, China has been taking a much more active role in its pursuit of international oil contracts.
It’s no secret that Africa’s economic development has been stifled by the shortage of electricity across the continent.
On September 10th the EIA reported a production decline in the Lower 48—essentially shale production—of 208,000 BOPD.
Despite brash statements by U.S. producers and misleading analysis by Raymond James, low oil prices are killing tight oil companies.
After decades of exhaustive attempts to overcome the dirty reputation of oil sands, we finally have an environmentally-friendly and low cost method to tap into these vast resources in the state of Utah—good news both for Mother Nature and all oil and gas investors.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil.