Ukraine reduced flows of Russian natural gas through its territory to Europe, introducing a new threat to the energy security of a continent already racing to sever its dependence on Russian fossil fu...
Tag: Oil
Occidental Stock Rises on Record $4.7 Billion Quarterly Profit
Text size Occidental Petroleum has a huge footprint in the Permian Basin of West Texas. Joe Raedle/Getty Images Shares of Occidental Petroleum , one of the biggest producers of U.S. onshore oil and ga...
Williams CEO Puzzled as U.S. Northeast Burns More Oil for Power
(Bloomberg) — Sit down with Alan Armstrong, CEO of Williams Cos., and it doesn’t take long for his frustration over U.S. energy policy to bubble to the surface. Most Read from Bloomberg “There’s...
Oil Stocks: Buffett Favorite Occidental Petroleum Among Key Earnings As Crude Prices Retreat
Canada-based oil-sands producer Suncor (SU) was set to report first-quarter results late Monday, following a spike in oil prices after Russia invaded Ukraine. Suncor stock and other oil stocks, howeve...
Collective Pain Calls For Collective Action
Collective Behavior has gotten a bad rap. When sociologist Franklin Henry Giddings coined the term more than 100 years ago, he described it as the actions that a loosely organized group of people migh...
Oil under pressure to start the week, as Saudis drop prices, China exports slump
Crude tracked a selloff in global assets on Monday, with the commodity pressured as Saudi Arabia slashed cut prices for Asian customers and elsewhere, and China reported sharply weaker export data. Pr...
Oil Prices Slip as Saudi Arabia Cuts Prices and China Lockdowns Intensify
Text size Oil prices slip Monday but are still elevated. Pichit Boonhuad/Dreamstime.com Oil prices declined Monday after Saudi Arabia, the biggest exporter, reduced prices for Asia and the northwest o...
U.S. Targets Bank Execs And G7 Pledges To Cut Off Russian Oil
Topline Members of the Group of Seven committed Sunday to banning or phasing out Russian oil imports, and the United States will sanction three of Russia’s biggest TV channels and 35 Russian banking e...
Russia’s Oil Revenues Are Soaring
Russian President Vladimir Putin chairs a meeting on the situation in the oil and gas sector at the … [+] Novo-Ogaryovo state residence outside Moscow, on April 14, 2022. – Putin called fo...
Trading Russian Oil Will Become Harder From Mid-May, Vitol Says
(Bloomberg) — Commodity firms will find it much harder to buy and sell Russian oil from the middle of this month, according to the world’s biggest independent crude trader, as Europe tightens sa...
Saudis Cut Oil Prices from Record Highs Amid China Lockdowns
(Bloomberg) — Saudi Arabia cut oil prices for buyers in Asia as coronavirus lockdowns in China weigh on demand, countering uncertainty around Russia’s supplies as the Ukraine war drags on. Most ...
OPEC Stays Silent As EU Rushes To Ban Russian Oil
The Organisation of Petroleum Exporting Countries and its partners in OPEC+ led by Russia decided this week they would not increase their target production figure for next month. Effectively, OPEC+ sl...
Big Oil Spends on Investors, Not Output, Prolonging Crude Crunch
(Bloomberg) — Big Oil is raking in historic amounts of cash, but the windfall isn’t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding share...
Oil Markets Are Bracing For Further Supply Disruptions
Oil markets are once again on edge about potential supply disruptions. The continued efforts by the EU to ban Russian oil imports and the renewed efforts by the U.S. Senate to pass the NOPEC bill woul...
Finland Is Severing Oil Ties With Russia, Trade Data Show
(Bloomberg) — Finland managed to cut the amount of oil it imports from Russia just after the invasion of Ukraine started in late February. Most Read from Bloomberg The Nordic country imported 70...
These Oil and Gas Companies Could Benefit From the Push Toward Sustainable Energy
The European Union’s push to wean itself off Russian gas and oil will hasten the transition to alternative energy. Energy companies such as BP and Shell stand to benefit. Here, Germany’s PCK oil refin...
Oil Prices Top $111 As Biden’s SPR Buyback Plan Leaks
The Biden Administration will purchase 60 million barrels of crude in Q3 in an effort to replace volumes in the U.S. strategic petroleum for the first time in nearly 20 years, CNN reports, after autho...
Oil could stay above $100 for the rest of 2022 — here are 3 ways to try to make money if that happens
Oil could stay above $100 for the rest of 2022 — here are 3 ways to try to make money if that happens The world is in the midst of an acute energy crisis. The fact that a barrel of crude oil traded be...
Shell Reports Record $9 Billion Quarterly Profit As Oil And Gas Prices Surged
Topline British energy giant Shell reported a record quarterly profit of $9 billion on Thursday, aided by a surge in oil and gas prices that followed Russia’s invasion of Ukraine. Shell reported a net...
EU Bans Russian Oil — Sort Of — And What That Will Achieve.
Oil storage tanks in Siberia. Getty Images When the Russian army left behind their raping and pillaging communities around Kyiv, but continued the complete demolition of cities like Mariupol, and the ...
Oil Stocks: BP Pops On Q1 Report Q1, With Shell, ConocoPhillips Earnings On Tap Amid High Oil Prices
BP (BP) reported mixed Q1 results early Tuesday, logging a massive profit for the quarter amid an even larger write down on assets in Russia. Shell (SHEL) and ConocoPhillips (COP) are on tap early Thu...
U.S. Trade Soaring Because Of, Not Despite, Covid Lockdowns, Supply Chain Woes
U.S. Census Bureau data released Wednesday showed U.S. trade up more than 20% over the first quarter … [+] of 2021. (All totals in $U.S. trillions.) ustradenumbers.com U.S. trade increased a run...
Russia’s Oil Output Is Plummeting, And It May Never Recover
Russian oil production is falling. In March, it shed half a million bpd, which by the end of April reached a full 1 million bpd, according to BP’s CEO, Bernard Looney. And this may well grow to 2 mill...
Oil Services Industry Entering New Boom Time Thanks To Tight Market
Industrial Fracking Oil Well pumping natural resourcesFracking Oil Well is conducting a fracking … [+] procedure to release trapped crude oil and natural gas to be refined and used as energy get...
Dow Jones Jumps After Fed’s Biggest Rate Hike In Two Decades; Two Oil Stocks Score Breakouts
The Dow Jones Industrial Average rallied in late-afternoon trading, as did the Nasdaq and S&P 500, following comments from Fed Chairman Jerome Powell. Indexes initially were volatile after the Fed...
How the EU ban on Russian oil could benefit Russia — Quartz
The European Union will halt all imports of crude and refined oil from Russia by the end of 2022, European Commission president Ursula von der Leyen said on May 4. Europe as a whole currently gets one...
Oil jumps 4% amid EU plans to ban Russian oil
Oil prices are up on Wednesday morning as the market reacts to the European Union (EU)’s latest plans on Russian oil. Since the start of the Ukraine-Russia war, one of the main uncertainties (amid tou...