Crude prices rose on Tuesday after the US Energy Information Administration said it expected US shale oil output to record its first monthly decline in over four years.
Front-month Brent crude futures were trading up 34 cents a $5
US refineries are processing record quantities of heavy crude from Canada as the perfect complement to light oils from North Dakota and Texas as they struggle to keep their average blend steady.
Crudes vary enormously - from low-d
As oil production swells, demand falters and prices slide, the global oil market appears on the verge of a pivotal shift from an era of scarcity to one of abundance.
Oil prices have fallen as much as 20 percent since June, despite
The world's unused spare oil production capacity would struggle to cover for another big outage, industry officials and analysts say, increasing the chance governments may tap strategic reserves should Iraq's southern exports be disrupte
Ever since 2011, Brent oil has been trading at above $100 per barrel and, had it not been to Saudi Arabia’s intervention to step up production, prices would have been much higher.
Like any other commodity, global price of oi