wti oil

No Image

OPEC Deal Closer Than Ever To Meeting Market Rebalancing Goals

The OPEC deal is closer than ever to meeting its market rebalancing goals, with OECD inventories now just 74 million barrels above the five-year average recorded in January 2017, according to a report by Reuters. When the output reduction deal went int…


No Image

5 Record Breaking Gemstones Even Billionaires Can’t Buy

As Elizabeth Taylor once said: “I adore wearing gems, but not because they are mine. You can’t possess radiance, you can only admire it.” It’s a good philosophy, because when it comes to the world’s biggest, rarest and most extraordinary gemstone disco…


No Image

Frac Sand Shortage Threatens Shale Boom

Higher drilling costs could threaten the recent surge in United States shale production.  Halliburton said last week that its earnings could be negatively impacted because of bottlenecks related to the supply of frac sand used in shale drilling. The Wa…


No Image

Brazil’s Coming Oil Boom Will Weigh On Oil Prices

It has been an appalling few years for Brazil’s energy patch. Weaker oil prices, sweeping corruption scandals and the worst economic downturn ever have sharply impacted the nation’s oil industry — but improvement might finally be in sight. The aforemen…


No Image

Tesla Has Been Cryptojacked

Hackers have infiltrated a public cloud environment owned by Tesla Inc and have cryptojacked it to mine cryptocurrency, a Cloud Security Intelligence (CSI) team at cybersecurity startup RedLock said on Tuesday. “Hackers not only gained unauthorized acc…


No Image

Shell Eyes Permian Assets To be Sold By BHP Billiton

BHP Billiton Ltd. may soon sell its assets in the Permian Basin to Shell, a company trying to boost its production activities in the Permian Basin, according to a new report by Bloomberg. Shell began drilling in the Permian in 2012, just a couple years…


No Image

U.S. Crude Exports Hit A Major Milestone

“There could not be a better time to offer this service as domestic production surpasses 10 million barrels per day in the ever-dynamic global crude oil market,” Tom Shaw, president of the Louisiana Offshore Oil Port (LOOP) said on Sunday as the first …


No Image

Congo Looks To Renegotiate $2 Billion Debt To Oil Trading Firms

Congo Republic has appointed investment bank Lazard to help it renegotiate US$2 billion worth of debt to oil and commodity traders Trafigura and Glencore, as the African country seeks to bring its debt back to sustainable levels, Reuters reported on Tu…


No Image

Robo-Taxi Set For Arizona Rollout

Waymo, a unit of Alphabet, is set to launch a ride-sharing service similar to Uber, but with no human driver behind the wheel. Officials in Arizona granted Waymo a permit to operate as a transportation network company (TNC) across the state on January …


No Image

Congo Looks To Renegotiate $2 Billion Debt To Oil Trading Firms

Congo Republic has appointed investment bank Lazard to help it renegotiate US$2 billion worth of debt to oil and commodity traders Trafigura and Glencore, as the African country seeks to bring its debt back to sustainable levels, Reuters reported on Tu…