Global Energy Industry News

Fast-rising U.S. shale oil output puts OPEC cut at risk – Rystad

April 28, 2017
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By hellenicshippingnews.. Shale oil output in the United States is rising much faster than expected and gaining market share globally, increasing the risk of a “volume war” with OPEC and weaker oil prices, the founder of oil and gas consultancy Rystad Energy said. Rystad Energy expects U.S […]

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World Bank Predicts $55 Per Barrel of Oil This Year

April 28, 2017
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By hellenicshippingnews.. An annual forecast for industrial commodities is predicting an average price of $55 for a barrel of oil in 2017, increasing to $60 the following year, the World Bank said in a report. “Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting […]

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Russia demands dividend payouts from state groups

April 28, 2017
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Putin-backed move sparks rise in shares and is aimed at plugging holes in federal budget Read full story ›

Source:: FT.com Oil and Gas […]

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Oil market heading towards balance, more draws needed – OPEC sec-gen

April 28, 2017
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By hellenicshippingnews.. OPEC Secretary-General Mohammad Barkindo said on Thursday that an overhang in global oil inventories was declining but stockpiles still needed to fall closer to the five-year industry average. “While it is evident that the market rebalancing is now moving forward and investment specifically in […]

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