Energy News | Consilience Energy Advisory Group

By hellenicshippingnews.. Cnooc Ltd., China’s offshore oil producer, said Thursday that its first-quarter revenue rose 55.8% to 38.39 billion yuan ($5.57 billion) from the same period last year. It attributed the increase to a rise in global oil prices. The state-owned oil […]

By hellenicshippingnews.. Angolan oil minister Jose Maria Botelho de Vasconcelos said on Thursday his country was more than fully complying with OPEC production cuts, and that he believed a deal to curb output would be extended beyond June. “Yes I think so,” de Vasconcelos said at an industry […]

By hellenicshippingnews.. Crude prices fell more than 1 percent on Thursday as the restart of two key oilfields in Libya pumped more crude into an already bloated market. U.S. gasoline futures also led the complex lower, falling to the lowest in at least eight years for this […]

By hellenicshippingnews.. Global oil markets are gradually rebalancing, but progress has been slower and more uneven than the Organization of the Petroleum Exporting Countries and bullish hedge funds expected. OPEC as well as most commentators, crude traders and hedge funds have assumed the rebalancing of the oil market […]