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The United States holds a reserve of about 660 million barrels.
Read More »Oil Prices Fall as Supply Disruption Concerns Ease
Rising Oil Demand may Surpass Supply
Oil will remain the center of economic capability and economic development for decades to come.
Read More »Leaving Iran Deal has a Long Term Implication on Oil Price
Former Shell Oil President John Hofmeister said leaving the Iran nuclear deal carries long-term implications on the price of oil.
Read More »Glencore Cancels Proposed Sale of Stake in Russian Oil Co.
Glencore and QIA have now agreed to dissolve their partnership.
Read More »Oil Steady on Iran Sanction Worries. Surging U.S. Supplies
U.S. crude inventories rose by 3.4 million barrels to 432.575 million in the week to March 27.
Read More »IEA: Venezuela Turmoil could Push Oil Market into Deficit
The IEA expects Venezuela'.s crude output will fall to 1.38 million barrels per day (mb d) by the end of 2018.
Read More »Romanian Gas Deal would End Russia`s Monopoly
Hungary sent some of its gas reserves to Serbia. which was even more acutely affected by the crisis.
Read More »Russia`s Gazprom Replaces Exxon A Top Global Ranking
Behind Gazprom. Germany’s E.ON and India’s Reliance Industries rounded out the top three. followed by South Korea’s Korea Electric Power Corp. and China Petroleum &. Chemical Corp.
Read More »Saudi Aramco CEO Believes Oil Shortage Coming Despite U.S. Shale Boom
Despite U.S. production records. Saudi Aramco CEO Amin Nasser believes shale oil won’t be enough to prevent a future shortage.
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