Global Industry: Oil May Never Return To The Triple-Digits

Global Industry: Oil May Never Return To The Triple-Digits

Despite the wild ride of oil prices in 2018—in which gains earlier in the year were wiped out in massive sell-offs in the fourth quarter—energy and banking professionals expect Brent Crude oil prices not to deviate too much from current levels in the next five years.

Read More

Global Markets: Oil’s Traffic Light Turns Yellow

Global Markets: Oil’s Traffic Light Turns Yellow

Oil traders saw a mixed bag this week with Brent prices treading water near the $60 mark on a mix of bearish and bullish signals. Prices have retained their 20% bounce off their low point three weeks ago but have only retraced 29% of their massive selloff in the fourth quarter.

Read More

Global Markets: Oil Stabilizes As OPEC Implements Cuts

Global Markets: Oil Stabilizes As OPEC Implements Cuts

The oil rally of the past two weeks continues, even though in a more tempered manner, on the back of U.S. commercial crude supplies shrinking, Russia starting to implement its OPEC/OPEC+ commitments and China promising to do whatever it takes to avert an economic slowdown.

Read More

Africa Oil & Gas: Algeria cut oil output by 25,000 bpd as part of OPEC+ deal

Africa Oil & Gas: Algeria cut oil output by 25,000 bpd as part of OPEC+ deal

Algeria has cut its oil production by around 24,000-25,000 barrels per day since Jan. 1 as part of the OPEC and non-OPEC agreement to reduce output, state-controlled news agency APS quoted an oil official as saying.

Read More

Global Industry: Oil Majors Bet Big On Offshore Drilling In 2019

Global Industry: Oil Majors Bet Big On Offshore Drilling In 2019

Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reportedlast week, citing Rystad Energy’s head of oilfield service research, Audun Martinsen. Bigger oilfield service providers, unsurprisingly, would have a better chance at making the most of the recovery in offshore drilling, especially those with expertise in deepwater projects, according to Martinsen, among them UK-based TechnipFMC and…

Read More

Global Markets: OPEC To Publish Quotas For New Production Cut Deal

Global Markets: OPEC To Publish Quotas For New Production Cut Deal

OPEC plans to publish this week the quotas for individual countries under the new OPEC/non-OPEC production cut deal agreed upon on December 7 and in force since January 1, an OPEC source told Russian news agency TASS on Monday.

Read More

Africa Oil & Gas: Libyan oil revenue dips to $2.4 billion in November

Africa Oil & Gas: Libyan oil revenue dips to $2.4 billion in November

Libyan oil revenue dips to $2.4 billion in NovemberDUBAI: Libya’s oil and gas revenue dipped to $2.4 billion in November from $2.87 billion in October, but full-year revenue is expected to surge by 76 percent to $24.2 billion, state oil firm NOC said on Friday.

Read More
1 2 3 63