OPEC

oil rig

Crude Oil Price Strengthens After IEA Reports Much Lower December Production

In its monthly Oil Market Report for December released Thursday morning, the International Energy Agency (IEA) said that global crude supplies decreased by 600,000 barrels per day, primarily due to ...
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OPEC

OPEC Reports 20% Jump in Crude Prices in December

In its Monthly Oil Market Report for December, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose to ...
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Oil Barrels

Crude Oil Price Remains Flat, Waiting for January Cuts to Start

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Thursday morning, one day later than usual due to the Christmas holiday. U.S. commercial crude inventories increased by ...
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fracking

Oil Rig Count Up by 13; Producers Dropping Hedges as Crude Price Rises

In the week ended December 23, the number of rigs drilling for oil in the United States totaled 523, up by 13 compared with the prior week and down 15 ...
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Oil Barrels

Crude Oil Price Halves Loss on EIA Inventory Drawdown

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.6 million barrels last week, maintaining a total U.S. commercial ...
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OPEC

OPEC Revises 2017 Forecast: Supply Up, Demand Growth Down

In its Monthly Oil Market Report for November, released Wednesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket fell to ...
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Analysts Keep Upgrading Oil & Gas Stocks in Wake of OPEC Production Cuts

Last week's oil production cut announced by OPEC has really put in a solid floor for oil stocks. Some of the second tier and offshore drillers and exploration companies even ...
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Oil pumps

OPEC Agreement Continues to Push Oil Prices Higher

Crude oil prices have climbed above $52 a barrel for benchmark West Texas Intermediate (WTI) and above $55 a barrel for Brent as the OPEC agreement to cut production appears, ...
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Silhouette of an oil worker using machinery at sunset

15 Major Oil and Gas Analyst Upgrades After OPEC Production Cuts

The week of November 28 to December 2 was less robust in the equity markets than in prior weeks since the election, but do not dare tell that to the oil ...
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fracking

Oil Rig Count Rises by 3, Hedge Funds Punt Ahead of OPEC Meeting

In the week ended December 2, the number of rigs drilling for oil in the United States totaled 477, up by three from the prior week and down by 68 compared ...
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Saudi Arabia

What OPEC’s Production Cuts Really Mean

Crude oil prices have added about $5 a barrel since Wednesday's announcement from OPEC that the cartel had reached an agreement to slice about 1.2 million barrels a day from ...
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Saudi Arabia

Did OPEC Production Cut Make More Speculative Oil Stocks Rally Too Much?

On a day that the Organization of Petroleum Exporting Countries (OPEC) announces a production cut, which is actually just announcing a formalized cut after previously stating that a cut was ...
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Oil Barrels

Crude Oil Price Soars on OPEC Deal, Inventory Change Not a Factor

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 900,000 barrels last week, maintaining a total U.S. commercial crude ...
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Pump Jacks Against at Dusk

If Crude Production Cuts Don’t Happen, Price Could Tumble $10 a Barrel

Crude oil prices have been volatile for the past six months, hitting a high near $54 a barrel in June and a low of around $43 a barrel in early ...
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oil tanks

Analyst Has 4 Top Energy Stocks to Buy for a Possible OPEC Cut This Week

One of the major problems for the top oil-producing countries in the Middle East is that for most of them, oil is their export bread-and-butter. With oil prices not able ...
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