Global Energy Industry News

Here’s the catch-22 for the oil market

November 3, 2016
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By hellenicshippingnews Oil prices could be heading lower as OPEC dithers, the election raises fears and traders stand on the sidelines. OPEC will dictate where oil prices head for the remainder of the year and into 2017 and the organization’s failure to come to an agreement at […]

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U.S. Oil Output Set to Decline as OPEC Deal Up in Air, EIA Says

November 3, 2016
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By hellenicshippingnews U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the U.S. Energy Information Administration. Output in the U.S. will fall 800,000 barrels […]

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Europe rushes to meet U.S. fuel demand, spiking freight costs

November 2, 2016
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European oil traders rushed on Tuesday to book vessels to carry gasoline to consumers on the U.S. East Coast left stranded without their main domestic supply source, more than quadrupling shipping costs, traders and ship brokers told Reuters.

An explosion late on Monday on the Colonial pipeline […]

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Oil prices fall for fourth day after stockpile build

November 2, 2016
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Crude oil prices fell for a fourth day on Wednesday, with jittery investors awaiting official U.S. stockpile figures later in the day. Read full story ›

Source:: CNBC energy […]

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