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LONDON – Saudi Arabia has crafted a complex OPEC+ deal with a view to punishing investors that have bet on falling oil prices but could inadvertently lend long-term support to the rival U.S. energy industry, OPEC+ insiders and market …
The post Analysis-Saudi Arabia’s ‘icing on the cake’ oil cut could feed US producers appeared first on Oil & Gas 360.
Mexico’s state-owned oil company Pemex has faced challenge after challenge, following scrutiny over its poor safety standards and low production levels and now it’s likely to miss the scheduled launch of its new refinery.
The indebted oil firm …
The post Mexico’s energy conundrum: AMLO’s nationalization plans face scrutiny appeared first on Oil & Gas 360.
Saudi Arabia agreed to take one for the team this weekend and volunteered to cut another 1 million barrels per day off its crude oil production to keep the market in check—and to punish short sellers.
But Saudi …
The post Dad’s mad: Saudis frustrated with lack of OPEC compliance appeared first on Oil & Gas 360.
HOUSTON – U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also …
The post US crude oil exports to gain tail winds from Saudi July output cut appeared first on Oil & Gas 360.
Lower crude oil prices, Western sanctions and European push for energy independence combined to shave 36% off Russia’s oil and gas tax collection for last month, compared to a year ago, Bloomberg reports, citing the Russian Finance …
The post Russia sees oil & gas tax revenue shed 36% in May appeared first on Oil & Gas 360.
Oil prices edged lower on Tuesday, giving up most of the prior session’s gains that followed an announcement by the world’s top exporter, Saudi Arabia, that it would further cut output.
Brent crude futures were down 23 cents, …
The post Oil prices tick down with OPEC meeting in rear view appeared first on Oil & Gas 360.