Tags » Oil Sands

Saudi Arabia Opens Production Taps

Saudi Arabia told OPEC it raised oil production to a record as the organization forecast stronger demand for its members’ crude in 2016.

The world’s biggest oil exporter pumped 10.564 million barrels a day in June, exceeding a previous record set in 1980, according to data the kingdom submitted to the Organization of Petroleum Exporting Countries. 491 more words

Energy

Iraq About to Flood Oil Market in New Front of OPEC Price War

(Bloomberg) — Iraq is taking OPEC’s strategy to defend its share of the global oil market to a new level.

The nation plans to boost crude exports by about 26 percent to a record 3.75 million barrels a day next month, according to shipping programs, signaling an escalation of OPEC strategy to undercut U.S. 208 more words

Energy

Oilpatch Casualties : Price War Enters The ‘Market Death’ Phase

The “market death” phase of the oil downcycle is about to commence as margins of many producers are starting to dry up, according to an energy analyst. 762 more words

Energy

Energy Sector Dealmaking On Pause- As Buyers Eye Bottom

Oil in Storage Rises More Than Expected Again

“You’re not going to lose anything by waiting,”

(Bloomberg) — When Whiting Petroleum Corp. put itself up for sale this month, the oil industry appeared… 890 more words

Energy

Crude glut: A lesson in supply and demand : Running Out Of Storage

A LESSON IN SUPPLY AND DEMAND

Oil traders are growing increasingly nervous that a glut of crude will send prices into a tailspin.

5 ways surplus oil will affect us… 1,645 more words

Energy

BMO Warns Oilsands Must Cut Costs

Canadian heavy oil prices fell below US$30 for the first time in more than six years as Bank of Montreal warned that oilsands producers must cut costs. 585 more words

Energy

The U.S. Has Too Much Oil and Nowhere to Put It = another drop in prices

The bottom line: A record 449 million barrels of oil are being stored in the U.S. Shrinking storage capacity will lead to another drop in prices. 1,039 more words

Energy