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Oil supply

Oil Price
OPEC Withheld 1.3 Billion Barrels Of Oil To Prop Up Prices
The Organization of Petroleum Exporting Countries withheld some 1.3 billion barrels of oil supply last year to keep prices from falling even further, the secret…
Oil Price
How Will Biden’s Presidency Impact South America’s Oil Boom?
Much has been made of President-elect Joe Biden’s energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive…
Oil Price
Oil Price Headed up Towards $50 per Barrel in 2021: S&P Global Platts
Brent crude, the global benchmark for oil prices, is likely to remain around $40 per barrel in the rest of the current calendar year but could be headed towards…
Oil & Gas Trade
Brazil Soars to China's No. 3 Crude Oil Supplier in Sept
Brazil jumped to China's third-biggest crude oil supplier in September,as China's independent refiners scooped up cheap supplies of the South American exporter'…
Oil Pipeline
Will America's Pipeline Operators Survive the Oil Crisis?
Pipeline utilization by mid-stream US oil and gas companies has fallen sharply in recent months.
Oil & Gas Trade
Venezuela Oil Exports Climb As OPEC Agreement Kicks In
While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil expo…
Crude Oil
BPCL Kochi Refinery Takes Steps to Maintain Petroleum Products Supply
Although the COVID 19 outbreak hit demand for gasoline, diesel, fuel oil, asphalt, aviation turbine fuel (ATF) and other petroleum products.
Oil&Gas Drilling
Non OPEC+ Crude Oil Supply Cuts
The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd).
Oil Shale
Saudi Arabia Denies Trying to kill US Shale, Shifts Blame for Oil Supply Glut on Russia
Rejecting the accusation as “fully devoid of truth,” Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud insisted that the Kingdom is and has always been …
Crude
OPEC+ Panel Calls for More Oil Cuts on Coronavirus Impact
An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of …
Oil & Gas Trade
India Exploring Ways to Source Crude Oil from Russia: Pradhan
India is exploring ways to source crude oil from Russia, Oil Minister Dharmendra Pradhan said. “We are working on the strategy to diversify our crude oil suppl…
Oil & Gas Trade
India, Russia Initiate Talks for Long-Term Oil Supply
India and Russia have begun negotiations on an agreement for long-term assured supplies of crude oil, especially from Russia’s Far East region, as New Delhi lo…
Oil & Gas Trade
OPEC+ Oil Supply Cuts Won’t Prevent Surplus in 2020
Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency…
Crude
China Trade War and the Growth of American Oil Supply will Keep Crude Prices in Check
China trade war and the growth of American oil supply will keep crude prices in check, not with standing Middle East tensions, according to the head of one of I…

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