Supply

Oil

End of 2015 to see drop in U.S. crude production: OPEC

Source: 
The Wall Street Journal

OPEC’s monthly market report predicts that the U.S. oil boom will slow and then go downhill in the second half of the year, The Wall Street Journal reports.

Oil

A second month of down production in North Dakota

Source: 
Reuters

For the second month in a row, oil production is down in North Dakota, Reuters reports.

Oil

Saudis battle to maintain share of oil market

Source: 
The Wall Street Journal

Saudi Arabia's oil exports dropped last year and its shipments to China hit the lowest level in four years in early 2015, creating a tough challenge for the Middle East country to maintain its share of the global market, The Wall Street Journal reports.

Oil

Iraq oil exports underperforming, hurting war against Islamic State

BAGHDAD (AP) — Iraq's oil exports for last month were below planned levels, the country's Oil Ministry said Wednesday, depriving the nation of badly needed funds for its battle against the Islamic state group.

Oil

Record storage at Cushing but room for more

Source: 
E&E

A record 54.4 million barrels of crude is in storage at the key Cushing hub, according to the Energy Information Administration, and an analyst told E&E that the number could climb to 65 million by mid-April.

Oil

Oil higher, stocks dip

NEW YORK (AP) — A late turn pulled the stock market to a loss on Monday, as major indexes wavered following a strong run last week.

The price of oil edged up amid signs that the growth in U.S. supply may be slowing. Benchmark U.S. crude rose 88 cents to close at $47.45 a barrel in New York. 

Oil

Kuwait oil minister: No plans for emergency OPEC meeting

KUWAIT CITY (AP) — Kuwait's oil minister says his country will stick to existing production targets and sees no reason for an emergency session of OPEC despite the slide in crude prices.

Oil Minister Ali al-Omair was quoted by the official Kuwait News Agency on Thursday saying there is no reason for the 12-nation bloc to reassess strategy before its scheduled June gathering.

Energy Department
Oil

House lawmakers press Moniz for Strategic Reserve updates

A group of House lawmakers on Wednesday urged Energy Secretary Ernest Moniz to give updates on the department’s emergency stockpile of crude oil, saying the shift in U.S. energy markets makes proper maintenance of the Strategic Petroleum Reserve more crucial than ever.

In a letter, House Energy and Commerce Chairman Fred Upton, R-Mich., Ranking Member Rep. Frank Pallone, D-N.J. and other committee members pressed Moniz on a number of questions about the SPR and what the department is doing to make sure it is optimized for the current energy market.

Oil

Oil falling for seventh straight session

Concerns about the continuing supply glut were keeping pressure on oil prices early Wednesday, as they plumbed fresh six-year lows.

Trading was thin ahead of the Federal Reserve announcement about interest rates, however, according to analyst Kash Kamal at Sucden Financial.

Oil

In Libya, clash with Islamic State militants near oil terminal

TRIPOLI, Libya (AP) — A Libyan official says fighting between Islamic State militants and forces loyal to the government based in the country's capital, Tripoli, has killed 10 troops.

Ismail al-Shukri, says Wednesday's clashes took place near the town of Nofaliya, close to the country's main oil terminal overlooking the Mediterranean Sea.

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