U.S. Oil Rig Count Rises As WTI Prices Slide | OilPrice.com Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Premium Content By Julianne Geiger – Oct 02, 2020, 12:23 PM CDT Baker Hughes reported on Friday that the number...Continue Reading

1. Spending on electricity surpassed fuels – For the first time since 1960, U.S. consumers spent more on electricity than they did on gasoline and other fuels. – The shift is the result of the plunge in spending on fuel (from reduced mobility) and a sharp increase in spending on electricity. – In April, Americans...Continue Reading

By Editorial Dept – Oct 02, 2020, 12:00 PM CDT Politics, Geopolitics & Conflict – Now, Turkey is sending its Syrian mercenaries to another reigniting conflict zone: The battle over Nagorno Karabakh between Azerbaijan and Armenia. Renewed fighting erupted on September 27th when Azerbaijani forces (Turkish allies) attacked Armenian forces controlling the majority of Nagorno...Continue Reading

By Editorial Dept – Oct 02, 2020, 12:00 PM CDT I don’t want to brag (who am I kidding, of course, I do!) but last week, with WTI holding just above $40, I predicted that a significant drop was coming. That was on Friday, and here is the chart for the main crude oil futures...Continue Reading

By Editorial Dept – Oct 02, 2020, 12:00 PM CDT Libya is now reportedly producing 300,000 bpd of crude oil, although the NOC has been silent on numbers since September 24th. The million-dollar question of the week for the crude oil glut is what the arrest of the former CEO of Libyan Foreign Bank might...Continue Reading

By Editorial Dept – Oct 02, 2020, 12:00 PM CDT U.S. West Texas Intermediate crude oil futures fell nearly 5% early on Friday after President Donald Trump tested positive for COVID-19 and negotiators failed to agree on a U.S. fiscal stimulus package designed to save the economy by speeding along the recovery. Meanwhile, new data...Continue Reading

Norway’s Oil Worker Strike Could Take 330,000 Boepd Off The Market | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Premium Content By Tsvetana Paraskova – Oct 02, 2020, 11:00 AM CDT Around 330,000 barrels of oil...Continue Reading

Vietnam Approves Exxon’s $5-Billion LNG-To-Power Project | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Oct 02, 2020, 10:30 AM CDT The port city of Hai Phong in Vietnam has approved a liquefied natural gas (LNG) project for power generation, expected to be developed by U.S....Continue Reading

U.S., UAE And Israel Agree On Joint Energy Strategy | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Premium Content By Charles Kennedy – Oct 02, 2020, 10:00 AM CDT The United States, the UAE, and Israel will pursue a joint energy strategy as a means to improve the security of the...Continue Reading

Russian Oil Production Tops OPEC+ Quota In September | OilPrice.com Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Related News By Irina Slav – Oct 02, 2020, 9:30 AM CDT Russia produced an average of 9.93 million bpd of crude...Continue Reading