Global Energy Industry News

Oil prices fall after Saudis say could raise output to meet demand

June 12, 2015
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SINGAPORE, June 12 (Reuters) – Oil futures dipped on Thursday, with U.S. crude retreating further from a one-month peak of almost $62 a barrel earlier this week, after Saudi Arabia said it was ready to raise output further to meet strong demand.

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Source:: Reuters […]

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Kurdistan Warns Oil Output at Risk of Collapse on Lack of Funds

June 11, 2015
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Kurdistan Warns Oil Output at Risk of Collapse on Lack of Funds

Oil producers in Iraqi Kurdistan will have to close operations if they don’t receive agreed export payments, according to the regional authorities.

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Source: Bloomberg

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Energy debutante shale comes of age at Opec’s Vienna meeting

June 9, 2015
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By hellenicshippingnews Last week’s Viennese waltz may have featured a little flirting between Opec members, but no firm proposals. There was no output cut, nor even a raising of the group’s production ceiling to acknowledge reality. This is no surprise. What was notable were signs of […]

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China is hoarding cheap oil in a fleet of supertankers

June 5, 2015
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The world’s second-largest economy become the top oil importer in April. The key reason? China is taking advantage of cheap oil to boost its strategic reserves.

“They’ve been building out strategic storage. The goal is to build out to about 500 million barrels, compared to […]

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