Large scale speculators in West Texas Intermediate and Brent crude oil futures have built up bullish positions equivalent to a staggering 1 billion barrels.
Oilsands Mining News
"In Venezuela, we are out of gas. In Venezuela, there is no gas oil. In Venezuela, there are no lube oils."
How it is possible for the price of oil to go both up and not up, and what would that mean for the oil industry?
On the bright side, the companies have started production of ultra-heavy crude oil at their Hangingstone Oil Sands Project in Alberta
Last week, crude oil rallied the most so far this year, gaining more than 8 percent, or $4 per barrel.
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.
The rally in oil prices over the past two weeks came to a halt on Wednesday on news that OPEC is actually exporting more oil than previously thought.
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil's immediate future.
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
Worries about Chinese economy and rising tension surrounding North Korea brings fear trade to mining and industrial metals.
If oil demand were to reach an actual peak, then the top might be easier to predict. As it stands, the forecast models of demand are likely predicting peak demand far later than it will be.
One thing is being largely left out of the pro- vs anti-pipeline discussions of late – the plain and simple fact that we need them.
Canadian energy guru Peter Tertzakian addressed the CFA Society Vancouver last week.
The oil majors reported poor earnings for the fourth quarter of last year, but many oil executives struck an optimistic tone about the road ahead
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.
President Donald Trump's picks for his Cabinet appear to back up his campaign pledges to boost US oil and gas production and streamline infrastructure approvals.
As the book closes Friday, January 20, 2017, on President Barack Obama’s two terms, here are the price averages during his tenure for some key commodity benchmarks, as well as the latest price.
The global mining industry rebounded from multi-year lows in 2016 – MINING.com's most popular posts of the year tell the story.
Predicting where oil prices would go next month or next year has always been a game of hit and miss, all the more so in the past two years since the oil price crash began.
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.
The new forecast is a response to OPEC's decision to limit production after a long period of unrestrained output.
The late-2014, Saudi-initiated oil-price war may have taken the 'boom' out of the US shale industry as it seriously threatened OPEC market share, but Saudi victory has been elusive.
This week's chart looks at costs per barrel, exports, and total oil production.
Pan Orient Energy's strong balance sheet puts it in position to begin drilling at East Jabung in Indonesia at the end of this year.