Global Energy Industry News

Strong start to summer driving season pushes US oil towards $50

May 30, 2017
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U.S. crude oil prices rose towards $50 as a strong start to the summer driving season in the U.S. suggested strong fuel demand. Read full story ›

Source:: CNBC energy […]

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Oil Traders Fail to See the Bigger OPEC Picture

May 30, 2017
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By hellenicshippingnews.. Don’t be fooled by today’s market reaction: OPEC’s widely anticipated decision in Vienna today to extend the production cuts that were agreed to back in November 2016 should prove bullish for crude oil prices. Traders may be unimpressed, pushing prices down more than […]

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Speculators raised bullish bets on Brent crude ahead of OPEC -ICE

May 30, 2017
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By hellenicshippingnews.. Investors raised their bullish bets on Brent crude oil to a four-week high in the week to May 23 ahead of OPEC’s meeting over whether to extend output cuts, data from the InterContinental Exchange (ICE) showed. Hedge funds and money managers increased their net […]

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Reform Can’t Come Soon Enough for China’s Oil Giants

May 22, 2017
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China’s state oil firms have long labored under high labor costs and price controls that depress returns. A new reform plan could change that—but only if China makes some tough choices, and quickly. Read full story ›

Source:: WSJ market news […]

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