Saudi Arabia, the world’s top oil exporter and OPEC's largest producer, has influenced the oil market and oil flows since the middle of the 20th century.
oil and gas Mining News
Commodities had their best quarter in almost three years, but demand outlook is running into troubling signs in the U.S. and China, the two biggest consumers.
Cyclone Trevor is expected to rapidly strengthen as it moves into the Gulf of Carpentaria, and is forecast to skirt South32 Ltd.’s manganese mine and a Glencore-operated zinc project
This development is part of the company' s quest to move forward with a rapid lithium extraction technology.
"Drones offer a cheaper and more effective way of monitoring infrastructure than traditional methods of sending workers to dangerous, remote terrain."
A unit of British oil major BP PLC will acquire BHP's unit which holds the Eagle Ford, Haynesville and Permian assets for $10.5 billion.
The mining sector showed an interannual growth of 0.16 per cent in May.
"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."
The institution will stop all lending for oil and gas projects after 2019, with some exceptions.
AXA and three other French investment groups follow the World Bank's lead.
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials.
In some counties in the U.S., especially those with lots of oil and gas activity, there are billions of gallons of waste water, brackish water, or saline water that aren’t potable for human consumption.
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future.
We've been bullish on oil prices and published a piece last April predicting an energy shortage. I continue to think that is where we're headed.
A technical meeting that was supposed to iron out some wrinkles for a deal to cut oil production ended in acrimony over the weekend, and OPEC's effort at coordination could be at yet another impasse.
This week's chart looks at costs per barrel, exports, and total oil production.
Oil and gas companies have gutted their capex budgets, necessary moves as drillers went deep into the red following the crash in oil prices. But the sharp cutback in investment means that huge volumes of oil that would have otherwise come online in five or ten years now will remain on the sidelines.
The Catch 22 is if oil prices rise high enough to put drilling and service back to work then it won’t last long.
Technical analyst Jack Chan believes a correction in oil prices is underway, and advises investors to use caution in a vulnerable market.
Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.
The price of a barrel of oil has almost doubled from its low of $28 at the start of the year, prompting speculation that a recovery is underway.
There are other plays. Think electric vehicles and even driverless cars. Find what's undervalued now and get in on some of the games that will dictate glorious future wealth.
Given the abundant speculation about the Federal Reserve and interest rates, Marc Faber told CNBC last week he believes the Fed is closely watching the market reaction to its intimations it may raise rates in June.
The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran
Total debt of newly bankrupted energy companies is soaring each month