Oil prices have rebounded higher overnight after dropping on a surprise crude build reported by API, as stockpiles at a key European storage hub are at their lowest level since September, according to Genscape.
Israeli authorities have closed down miles of beaches as the county is in the midst of its "most serious ecological disaster in recent years" after an oil spill from an unknown origin occurred some dozens of miles off the coast into the Mediterranean
The powers that be would like us all to believe that America will be running exclusively on electric-powered vehicles in less than 15 years. The reality, however, is that this is not only impossible but also a foolish endeavor that will create more p
A group of 14 state attorneys general sent a letter to President Biden on Tuesday urging him to reconsider his revocation of the Keystone XL pipeline permit, saying the president's decision will harm thousands of American workers as well as the cou
One of the ways that gas taxes will be increased is by not calling them that. It goes down easier – like the "shared responsibility payment" you're forced to pay for not paying the health insurance mafia for an Obamacare policy you don't wa
Crescat's Tavi Costa points out something remarkable which many may have missed amid the short squeeze and "growth" stock frenzy: oil, that "value" age relic, has had its best YTD performance in 30 years.
The lawsuit (pdf) was filed in the U.S. District Court in Wyoming by the Western Energy Alliance, a group representing fossil fuel producers on federal lands. They say President Joe Biden exceeded his authority with the recent order.
As previously reported, and as was just confirmed by the WSJ, President Biden on Wednesday will announce that he is halting all new oil and gas leasing on federal territory, "setting up a confrontation with the oil industry over the future of U.S. en
Tehran has confirmed that on Monday it detained the MT Hankuk Chemi tanker for what official statements called "oil pollution" - a common excuse Iranian officials often given when they take such action.
Economic sanctions have cut Iran's oil production in half and dropped oil exports to less than 20% of normal. Iran's oil production is currently below 2 million barrels per day and Iran has about 300,000 barrels per day of oil exports.
...While Pretending to Address Plastics Crisis. Coca-Cola, PepsiCo and Nestlé, ranked world's worst plastic producers, continue to pump out single-use plastic packaging while investing in "false solutions," new report says.
Continuing optimism about a possible oil market recovery in H1 2021 is largely based on the wishful thinking of OPEC leaders, such as Saudi Arabia, and an irrational view on the positive effects of COVID vaccines on the global economy.
Despite having staged a solid rebound from cyclical lows hit just a few weeks ago, as its stock surged by almost a third on the back of a dramatic jump in the price of oil, oil giant Exxon is turning increasingly pessimistic on the future of oil pric
Arab Gulf oil producers are losing billions of U.S. dollars from oil revenues this year due to the pandemic that crippled oil demand and oil prices. Because of predominantly oil-dependent government incomes, budget deficits across the region are soar
In 1956, though, a geologist working for the Shell oil company published a report which showed, among other things, that the process of discovering, drilling and extracting an oil deposit took approximately four decades. It followed that if we calcul
In the 1970s, the developed states were shaken by oil shortages. Although largely artificial – the result of OPEC flexing its muscles, and later the Iran-Iraq war – the oil shocks briefly caused people to take seriously the prospect of running o
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