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Oil Slips as Clock Ticks on OPEC Deal Amid Rising U.S. Supply

EghtesadOnline: Oil slipped from a two-week high in New York as OPEC made another push to finalize an accord on cutting production, while rising crude inventories in the U.S. showed the global surplus remains.
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Publish Date:16/November/2016 | 11:09

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

EghtesadOnline: 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.
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Publish Date:02/November/2016 | 05:53

US Oil Drillers Add Rigs in Longest Streak

EghtesadOnline: US oil producers continue to revive drilling in the shale patch, adding rigs for the fourth consecutive week in the longest streak of increases since August.
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Publish Date:24/July/2016 | 11:27

EIA: South Korea Overtakes China as No. 2 Buyer of US Oil

EghtesadOnline: South Korea overtook China as the No. 2 destination for US crude behind Canada in 2018, as shipments to South Korea soared to a record high of 558,000 barrels per day in December while shipments to China have started to return from zero, according to Energy Information Administration data released Friday.
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Publish Date:10/March/2019 | 13:00

Asian Equities Mixed as Harvey's Impact Assessed

EghtesadOnline: Asian stocks fluctuated and U.S. equity futures fell as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centers. The greenback maintained losses after Federal Reserve Chair Janet Yellen failed to provide clues on monetary-policy tightening.
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Publish Date:28/August/2017 | 04:53

Oil prices firm on optimism over declining stocks

EghtesadOnline: Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production shows signs of slowing.
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Publish Date:26/July/2017 | 05:46

oil up 1 percent, posts weekly gain of 5 percent

EghtesadOnline: Oil rose 1 percent on Friday, boosted as U.S. crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong.
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Publish Date:15/July/2017 | 04:57

Iran Crude Prices Up, Exports Above 2 mbpd

EghtesadOnline: Iran's crude oil traded at about $43 per barrel in the week to June 30 amid concerns about rising US crude inventories and limited impact of an OPEC-led scheme to reduce supplies and raise prices.
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Publish Date:10/July/2017 | 08:23

Oil prices rise on first drop in U.S. drilling in months

EghtesadOnline: Oil prices rose on Monday, lifted by the first fall in U.S. drilling activity in months, although gains were capped by reports of rising OPEC output last month even as the group has pledged to cut supply.
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Publish Date:03/July/2017 | 04:43

All eyes on July for U.S. oil demand to drain glut

EghtesadOnline: U.S. oil traders are hoping the sweltering days of July are also hot ones for demand, believing the new month is the last best opportunity this year to see the overhang of inventories finally subside.
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Publish Date:02/July/2017 | 08:49

Stocks Are Ignoring Oil's Bear Market

EghtesadOnline: The bear market in crude in many ways resembles its more severe predecessors from 2014 and 2016: oil prices plummeting, non-U.S. producers floundering to keep supply at bay and concerns swirling around the impact of energy companies on high-yield bonds.
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Publish Date:24/June/2017 | 04:55

Oil prices dip on further rise in U.S. drilling, demand slowdown

EghtesadOnline: Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market.
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Publish Date:19/June/2017 | 04:37