Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

reuters.com - High probability of oil reaching $100/barrel, says Blackrock CEO Fink
High probability of oil reaching $100/barrel, says Blackrock CEO Fink
Reuters

RIYADH, Oct 26 (Reuters) - Larry Fink, chief executive of the world's largest asset manager BlackRock, said on Tuesday that there is a high probability of oil reaching $100 a barrel. Fink, who was speaking at the Future Investment Initiative…

reuters.com - Aaron Sheldrick - Oil takes breather after latest charge amid tight market
Oil takes breather after latest charge amid tight market
Reuters

TOKYO, Oct 26 (Reuters) - Oil prices edged lower on Tuesday, taking a breather from a sustained rally driven by strong demand in the United States, the world's biggest consumer of oil and its products. Brent crude was down 20 cents or 0.2% at…

reuters.com - Alex Lawler - Brent oil 'scarcity premium' widens as $100 a barrel forecast
Brent oil 'scarcity premium' widens as $100 a barrel forecast
Reuters

LONDON, Oct 26 (Reuters) - The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning oil's rally that pundits increasingly predict will push the…

usnews.com - Oil Prices Are Rising, and These Energy Stocks Stand to Benefit
Oil Prices Are Rising, and These Energy Stocks Stand to Benefit
U.S. News & World Report

Oil price gains provide opportunities for investors. West Texas Intermediate crude oil prices recently surpassed $80 per barrel for the first time since 2014. A classic supply and demand imbalance has triggered surging energy prices around the…

mb.com.ph - Solons eye amendments on Oil Industry Deregulation Law
Solons eye amendments on Oil Industry Deregulation Law
Manila Bulletin

There are four pending bills in the House of Representatives that seek to amend Republic Act No. 8479 or the “Downstream Oil Industry Deregulation Act of 1998″. The said House measures that seek amendments to certain provisions of RA…

ft.com - Myles McCormick, Justin Jacobs, Amanda Chu and Derek Brower - 'Exceptional' oil boom on crash course with decarbonisation drive
'Exceptional' oil boom on crash course with decarbonisation drive
Financial Times

One thing to start: Oil prices continued their march higher, with West Texas Intermediate yesterday topping $85 a barrel for the first time in seven years. The United Nations' COP26 climate talks in Glasgow kick off in just five days. As emissions…

afr.com - Angela Macdonald-Smith - 'Greenwashing' warning for oil and gas directors
'Greenwashing' warning for oil and gas directors
Australian Financial Review

The Australian Securities and Investments Commission is cracking down on ESG claims and plans to achieve them, with a recent stepping-up of the focus on emissions targets and how they are to be achieved, said Sandy Mak, a partner and mergers and…

standard.co.uk - Katrine Bussey - New energy strategy will move away from oil and gas, Nicola Sturgeon promises
New energy strategy will move away from oil and gas, Nicola Sturgeon promises
Evening Standard

A new energy strategy for Scotland will set out how the country can make the “fastest possible transition” away from oil and gas, Nicola Sturgeon has pledged. The new strategy, which will be published next year, will be based on the…

marketwatch.com - William Watts - Oil prices edge higher on tight supplies
Oil prices edge higher on tight supplies
MarketWatch

Oil futures edge higher Tuesday, with support tied to expectations supplies will remain tight.

reuters.com - Reuters Editorial - Sudan's oil trade has yet to flow after military coup
Sudan's oil trade has yet to flow after military coup
Reuters

LONDON/CAIRO (Reuters) - A blockade of Sudan's main port that has disrupted oil tanker flows for weeks has yet to ease after the country's military seized power in a coup on Monday, oil and shipping sources said. The country relies on Port Sudan…

forbes.com - Baker Institute - Will Productivity Ride To The Rescue Of US Oil Producers…or Become The Villain?
Will Productivity Ride To The Rescue Of US Oil Producers…or Become The Villain?
Forbes

There's finally some good news in the US oil patch after a rough couple of years. The US has added nearly 300 oil-focused rigs (though the count is still about one-third below pre-COVID levels). Banks are starting to open their wallets for…

dailyfx.com - Tammy Da Costa - Oil Price Outlook: US Crude (WTI) Oil, COP26 & the Energy Crisis
Oil Price Outlook: US Crude (WTI) Oil, COP26 & the Energy Crisis
DailyFX

US Crude oil (WTI) prices tested above $84.00 Energy prices and COP26 climate conference remain at the forefront of risk sentiment Coal shortages may further support oil prices as China struggles with supply While the combination of reduced output…

scotsman.com - Jane Bradley - COP26: Nicola Sturgeon says continued oil and gas extraction is 'wrong'
COP26: Nicola Sturgeon says continued oil and gas extraction is 'wrong'
The Scotsman

Speaking at the University of Strathclyde's Technology and Innovation Centre on Monday, Ms Sturgeon said the Scottish Government's focus would be on “achieving the fastest possible just transition for the oil and gas sector” in…

bloomberg.com - Alex Longley - Dwindling Oil Supply at U.S. Hub Is Rippling Into Global Markets
Dwindling Oil Supply at U.S. Hub Is Rippling Into Global Markets
Bloomberg

Brent futures were $100 when forward timespreads were last this strong The culprit behind the latest jump in oil prices isn't soaring natural gas prices or even OPEC+'s limits on output but rather what is happening at America's largest oil storage…

bloomberg.com - Nigerian Oil Minister Says Market Still Too Fragile
Nigerian Oil Minister Says Market Still Too Fragile
Bloomberg

Nigerian Minister of State for Petroleum Resources Timipre Sylva backed fellow OPEC+ member Saudi Arabia in saying the group must resist pressure to raise oil production faster until the coronavirus pandemic abates. He spoke Oct. 24 with…

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