Rig Count Up, Oil Prices Down

Check out this interesting article from Oil-pro… On Monday, U.S. crude finished at its lowest level in a week, after Baker Hughes reported Friday that the U.S. rig count rose for the second consecutive week, potentially presaging an increase of production. Read more at Oil-Pro

Oil Hits 2016 High on US Draw Forecasts, Nigeria Worry

Read the latest from RIGZONE HERE: NEW YORK, June 7 (Reuters) – Oil prices hit 2016 highs on Tuesday, with U.S. crude settling above $50 a barrel the first time in almost a year, on expectations of domestic stockpile draw and worries about global supply shortfalls from attacks on Nigeria’s oil industry. U.S. crude stockpiles […]

Despite Short-Term Constraints, Iraq’s Restated Oil Production Target Looks Realistic

Interesting article at Oilpro. Despite the ongoing military struggle against Daesh militants and the continued budgetary and political dispute between Baghdad and the semi-autonomous region of Kurdistan, Iraq plans to stick to output targets. Last week Falah Alamri, head of Iraq’s State Oil Marketing Organization (SOMO) said that the country would be producing 5.5-6 million […]

How Low Oil Prices Are Erasing The Glut

Here is some interesting content from Oilpro. Here I review key trends in the oil market over the last decade. (Click to enlarge) World field production of crude oil, in thousands of barrels per day, monthly Jan 1973 to Nov 2015. Read more at Oilpro