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OPEC Tries To Build Momentum For Global Oil Freeze

http://www.rigzone.com/news/oil_gas/a/147006/OPEC_Tries_To_Build_Momentum_For_Global_Oil_Freeze

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  • EPA Set To Unveil More Flexible Rules For Oil And Gas Industry

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  • Saudi Plans To Double Natural Gas Output In 10 Years

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  • U.S. Looks To Sell 15% Of Strategic Petroleum Reserve

    U.S. Looks To Sell 15% Of Strategic Petroleum Reserve

    The budget deal that the U.S. Congress reached on Wednesday includes the sale of 100 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) between 2022 and 2027—a total volume equal to some 15 percent of the current reserve. According to the text of the budget deal, carried …
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  • Oil Prices Rise After API Reports Staggering Crude Oil Draw

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    The American Petroleum Institute (API) reported a staggeringly large draw of 11.19 million barrels of United States crude oil inventories for the week ending January 5, marking six large draws in as many weeks, according to the API data. Analysts, had expected a much smaller drawdown of 3.89 million barrels …
  • China To “Deal Seriously” With Violators Of Oil Sanctions On North Korea

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    China’s government promised on Friday to “deal seriously” with people or companies that may have violated United Nations sanctions by illicitly delivering oil to North Korea. On Wednesday, South Korean newspaper Chosun Ilbo reported that Chinese shipping companies were dodging the UN sanctions on oil sales to North Korea by …
  • Oil Price Rise Not Enough: Angola Ditches U.S. Dollar Peg

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    To offset the decline in its foreign currency reserves, OPEC member Angola—which relies on oil for 90 percent of government revenues—is ditching its currency peg to the U.S. dollar and will allow a more flexible exchange rate regime with the currency trading within a band. Since the oil price crash …
  • Iranian Crisis Could Send Oil To $100

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    Oil prices started the year on a high note as some geopolitical tension pushed aside bearish concerns. Both WTI and Brent opened above $60 per barrel for the first time in years. The protests in Iran were the main driver of the bullish sentiment in the oil market. Anti-government demonstrations …
  • Oil-Rich Venezuela Is Out Of Gasoline

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    After lining up for an entire day to get a plane ticket to visit her relatives in the western city of Mérida, Josefina García did not know if she and her octogenarian mother were going to reach their final destination on time for Christmas. The airport is located 76 kilometers …