The Guyana-Suriname Basin has emerged as the world’s hottest offshore oil play and with the changes occurring to the global energy mix after Russia’s invasion of Ukraine, the Caribbean is becoming an ...
Tag: Oil
How Rockefeller’s Standard Oil Trust became Chevron, ExxonMobil, BP and Marathon
While large tech companies are currently feeling the heat from regulators and Congress, over a century ago, the trustbusters had their sights on Big Oil. Around the turn of the twentieth century, Big ...
Oil Eases Off of Three-Month High as Russian Crude Heads to Asia
(Bloomberg) — Oil slipped as rising volumes of Russian crude headed to Asia countered bullish sentiment spurred by Saudi Arabia’s bigger-than expected price increase for deliveries to the Far Ea...
Saudi Arabia Raises Oil Export Prices to Asian Customers
Global energy networks are facing a tectonic shift. The WTI benchmark and Brent Crude both breached $120 per barrel today, achieving three-month highs on the back of Saudi Arabia’s decision to raise e...
India in Talks to Increase Russian Oil Imports From Rosneft
(Bloomberg) — India is looking to double down on its Russian oil imports with state-owned refiners eager to take more heavily-discounted supplies from Rosneft PJSC as international buyers turn d...
Historic Rupee Low Forecasts Grow as Oil Costs Widen Deficits
(Bloomberg) — The worst is still to come for the Indian rupee after its slide in May to a historic low, according to analysts and forward markets. Most Read from Bloomberg The currency may drop ...
How Close Are We To Peak Oil Demand?
Two years ago, British oil and gas supermajor BP Plc. (NYSE:BP) sent shockwaves through the energy markets after it declared that the world was already past Peak Oil demand. In the company’s 202...
Stocks Face Rates Pressure After Jobs; Oil Gains: Markets Wrap
(Bloomberg) — Stocks are poised to start the week under pressure after a robust US jobs report left the door open for the Federal Reserve to maintain an assertive stance on inflation. Oil rose. ...
What Does Europe’s Ban On Russian Oil And Gas Mean For The West?
Europe’s extreme dependency on Russian energy products from oil to natural gas is made clear recently from the manner in which they have approached sanctions – with incrementalism, slowly sinkin...
Saudis Raise Oil Prices More Than Expected Amid Asia Rebound
(Bloomberg) — Most Read from Bloomberg Saudi Arabia raised oil prices for its biggest market of Asia by more than expected as demand rises with the region’s main economies easing coronavirus res...
US May Allow More Iran Oil to Flow Even Without Deal, Says Vitol
(Bloomberg) — Most Read from Bloomberg The US may allow more sanctioned Iranian oil onto global markets even without a revival of the 2015 nuclear accord, according to the biggest independent cr...
Biden Administration Considers A Windfall Tax On Oil And Gas Profits
The Biden administration is considering a proposal to tax oil and gas windfall profits to provide a gas subsidy for American consumers struggling with high energy prices, said Bharat Ramamurti, deputy...
Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices shooting past $100
Here’s why Warren Buffett bought all the Occidental Petroleum shares he could, even with oil prices shooting past $100 Warren Buffett kept a lot of cash on hand in recent years. At the end of 2021, th...
If Oil Keeps Rising, These 5 Stocks Could Benefit
Text size The price of oil has been steadily rising, while making higher highs and higher lows. Xiaomin Wang/Dreamstime.com Oil could be headed for $150 a barrel. That might not be good for the econom...
Oil Stocks: Crude Jumps Back Above $120 As Drilling Activity Flattens
A so-far lousy year for the stock market has been a godsend for oil stocks. Spiking natural gas and oil prices have replenished energy industry balance sheets thinned by the pandemic demand crash. And...
OPEC Bows To Global Pressure To Increase Oil Supply
Getty Images Key Takeaways The price of crude oil continues to rise and hit new highs on the back of significant demand post-Covid19 OPEC has agreed to increase their oil output to 648,000 barrels a d...
OPEC Move Is Not Worth Biden’s Hype, And Won’t Stop Record Gasoline Prices
Biden speaking by video with a different cartel, of baby formula makers, June 1, 2020. © 2022 Bloomberg Finance LP Another day, another record for gasoline prices, which hit an average of $4.715 a gal...
The Oil Industry’s Downstream Nightmare Is Here To Stay
Last week, Bloomberg reported, citing anonymous sources, that the Biden administration was looking into the possibility of restarting idled refineries in order to boost fuel production and tame prices...
Oil Stocks Among Global Growth Stocks To Watch On IBD’s Screen Of The Day
Today’s IBD Screen Of The Day focuses on the Global Leaders list of the IBD Stock Screener, which includes a few oil stocks, biotechs and more. The screen looks for foreign-based companies with ...
Oman’s Oil Companies to Mine Bitcoin with Excessive Gas
Alex Dovbnya Oman’s sovereign wealth fund was among investors who took part in Crusoe Energy’s recent funding round Oman Investment Authority, a sovereign wealth fund, participated in the ...
Should you buy or sell WTI oil after the EU’s partial ban on Russian imports?
At the start of the trading week, the European leaders agreed to pursue a partial embargo on Russian oil. Since Russia invaded Ukraine in February this year, everything changed in the way Europe is do...
Oil Prices on Rise Again as OPEC Considers Suspending Russia From Output Deal
Text size Oil prices have surged above $100 a barrel since Russia’s invasion of Ukraine. David McNew/Getty Images Oil prices edged higher after briefly falling back on Tuesday following a report...
What Exempting Russia From OPEC+ Supply Quotas May Mean for Oil
(Bloomberg) — Exempting Russia from the OPEC+ alliance’s oil-production agreements is being discussed by some members of the Organization of Petroleum Exporting Countries, the Wall Street Journa...
Citi Says Triple-Digit Oil Should Be Near $70 as Recession Looms
Reuters Yellen says she was ‘wrong’ about inflation path; Biden backs Fed WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said on Tuesday that she was wrong in the past about th...
Dow Jones Dips As Apple Rallies; Tesla Stock Stalls Despite This; Oil Stocks Test Buy Points
The Dow Jones Industrial Average was struggling to stay positive even though Apple (AAPL) was among the gainers. Nike (NKE) impressed most out of the blue chips. Tesla (TSLA) saw a move higher stall d...
Small-cap growth stocks are at their lowest P/E valuation in at least 24 years.
Growth stocks typically trade at premium prices. But in this market, rising interest rates have turned small-cap growth stocks into a bargain group. This may be a beautiful setup for long-term investo...