Any decision to reduce oil inventories OPEC's upcoming meeting will be greatly helped by Venezuela’s declining oil production, which has just fallen to its lowest levels since January 2003.
A series of apparent attacks on oil infrastructure in the Arabian Peninsula thrusted geopolitical risk to the forefront of market concerns. Against a backdrop of an already tightening supply-demand balance, the possibility of a serious supply outage poses a major risk to market stability.
On April 29 the national average gasoline price reached a new 2019 high of $2.97 per gallon—already matching last year's high—with a variety of factors expected to push prices even higher.
The U.S. State Department announced on April 22 that it would let all Iran sanctions waivers expire at the beginning of May as part of the Trump administration’s “maximum pressure” campaign on Iran.
With the expiration of the waivers now just a little more than two weeks away, the oil market is on edge as the White House weighs its next steps.
The attack on Libya’s capital by a militia called the Libyan National Army threatens to cut off, or at least disrupt, the nation’s oil supply.
Aramco's bond prospectus details a company which has production costs that are less than half of its nearest rival and achieves levels of production greater than ExxonMobil, Chevron, Shell BP and Total combined.
For the United States to realize its foreign policy ambitions, domestic oil demand must be reduced.
U.S. shale is expected to account for nearly three-quarters of global supply growth over the next five years—even as it faces both short- and long-term questions about its viability.
Oil's bullish trend may only prove to be fleeting, with the possibility of another downturn later in the year.