OilPrice.com

OilPrice.com is a popular energy news site that focuses on Oil and Gas, Alternative Energy, and Geopolitics. It provides more news than any other energy-related site online and attracts an influential audience consisting of investors, fund managers, traders, energy market professionals, and high net worth individuals from around the world. The site works with some of the largest names in financial news and provides analysis to sites such as CNBC, Yahoo Finance, Nasdaq, Fortune, TIME Magazine, Huffington Post, USA Today and CNN Money among others. Advertisers on the site reach a targeted audience that includes investors and high net worth individuals primarily from the U.S., Canada and Europe.

76%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermines the credibility of the source. It is calculated as:
Analysis.OverallConflictOfInterestScore * 0.3F + Analysis.OverallBiasScore * 0.3F + Analysis.DeceptivenessScore * 0.3F + Analysis.ReadabilityScore * 0.1F

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

The Daily's Verdict

This news site has a mixed reputation for journalistic standards. It is advisable to fact-check, scrutinize for bias, and check for conflicts of interest before relying on its reporting.

Bias

90%

Examples:

  • The articles sometimes mention specific events or actions that could potentially influence oil prices, but fail to mention other factors that may also impact those prices.
  • The site occasionally uses language that dehumanizes certain industries, such as referring to the Russian refining industry as being down due to Ukrainian drone strikes. This is an example of religious and ideological bias.

Conflicts of Interest

65%

Examples:

  • Advertisers on the site get the leads and investors they are looking for as it provides a targeted audience.
  • The site works with some of the largest names in financial news and provides news and analysis to sites such as CNBC, Yahoo Finance, Nasdaq, Fortune, TIME Magazine, Huffington Post, USA Today, CNN Money, Business Insider and hundreds of others.

Contradictions

95%

Examples:

  • BP increased its dividend by 10% and extended its buyback program for the first time since twenty nineteen.
  • Net debt fell and operating cash flow was almost 30% higher than a year earlier, supporting investor returns.
  • Net debt reduced to $22.6 billion at the end of Q2 2024 from $24 billion as at the end of March 20 twenty-four.

Deceptions

70%

Examples:

  • Despite its presumption that global oil demand growth is on a long-term downward trend, even the International Energy Agency (IEA) estimates that global crude oil inventories will draw down at an average rate of 800,000 barrels per day (bpd) between June and September.
  • The title suggests a certainty about the future of oil prices that the article does not fully support.

Recent Articles

  • BP Reports Stronger-than-Expected Q2 Earnings: Net Income Up 6.5%, Dividend Increased by 10%

    BP Reports Stronger-than-Expected Q2 Earnings: Net Income Up 6.5%, Dividend Increased by 10%

    Broke On: Tuesday, 30 July 2024 BP reported stronger-than-expected Q2 earnings of $2.76 billion, up from $2.59 billion last year, leading to a rise in share price and a 10% dividend increase to 8 cents per share. Net debt was reduced to $22.6 billion and underlying cash flow exceeded forecasts, driving robust cash flow of $8.1 billion for the quarter.
  • Oil Prices Rebound: EIA Reports Biggest Daily Drawdown of US Crude Stockpiles in 2024, Bringing Inventories to Lowest Level Since February

    Oil Prices Rebound: EIA Reports Biggest Daily Drawdown of US Crude Stockpiles in 2024, Bringing Inventories to Lowest Level Since February

    Broke On: Thursday, 18 July 2024 Oil prices rebounded on July 18, 2024, after three consecutive weekly declines in US crude stockpiles. The Energy Information Administration reported a drawdown of 4.87 million barrels last week, bringing inventories to their lowest level since February. OPEC+ extended production cuts and Russia announced output reductions, contributing to the rebound. Despite concerns over weak demand from China, US crude stockpiles have declined by over 20 million barrels in the last three weeks alone.
  • Hurricane Beryl Impacts Gulf Coast Oil Production and Prices: A Look at the Latest Developments

    Hurricane Beryl Impacts Gulf Coast Oil Production and Prices: A Look at the Latest Developments

    Broke On: Monday, 08 July 2024 Tropical Storm Beryl made landfall near Matagorda, Texas, causing reductions in Gulf Coast refining operations and shutting in production from the Perdido platform. Despite potential impacts on supply, some analysts remain optimistic that prices will not significantly increase due to the storm's forecasted weakening and minimal effect on gasoline prices. The upcoming hurricane season is also a concern for investors, with Colorado State University predicting an 'extremely active' season this year. U.S. crude oil prices were averaging $3.50 per gallon nationwide on July 8.
  • US Crude Oil Inventories Decline by 12.157 Million Barrels: EIA Report

    US Crude Oil Inventories Decline by 12.157 Million Barrels: EIA Report

    Broke On: Wednesday, 03 July 2024 US crude oil inventories decreased by 12.157 million barrels in the week ending June 28, according to the EIA, with gasoline and distillate stocks also declining. The inventory draw and geopolitical tensions contributed to a rise in crude oil prices to $83.21.
  • SM Energy on the Brink of $3 Billion Acquisition of XCL Resources in Uinta Basin

    SM Energy on the Brink of $3 Billion Acquisition of XCL Resources in Uinta Basin

    Broke On: Thursday, 27 June 2024 SM Energy, a Denver-based oil and gas company, is in advanced talks to acquire XCL Resources, a top Utah producer with an estimated $3 billion valuation and daily output of 55,000 barrels of oil equivalent. The deal would boost SM Energy's net production from 152,000 to approximately 195,000 boed per day. EnCap Investments-backed XCL Resources operates in the fast-growing Uinta Basin and is expected to close in September 2024. J.P Morgan, Bank of America, and Wells Fargo have committed $1.2 billion for financing.
  • U.S. Crude Oil Prices Surge Past $81: Summer Fuel Demand and China's Economic Data Boost Market

    U.S. Crude Oil Prices Surge Past $81: Summer Fuel Demand and China's Economic Data Boost Market

    Broke On: Tuesday, 18 June 2024 U.S. crude oil prices surpassed $81 per barrel on Tuesday, with Brent reaching $85.33, driven by risk-on sentiment and summer fuel demand expectations. China's retail sales beat forecasts but industrial output and investment disappointed, contributing to the rally.
  • Saudi Arabia's Record-Breaking Aramco Share Sale: A $11.2 Billion Boost for Foreign Investors

    Saudi Arabia's Record-Breaking Aramco Share Sale: A $11.2 Billion Boost for Foreign Investors

    Broke On: Saturday, 08 June 2024 Saudi Arabia broke records by allocating over half of its $11.2 billion Aramco share sale to foreign investors, marking a significant shift from the 2019 IPO and adding 120 new international investors. Proceeds will fund Saudi Arabia's Public Investment Fund (PIF), driving diversification efforts in sectors like electric vehicles and futuristic cities. The secondary offering generated $65 billion in demand, priced at a 6% discount.
  • Unexpected Inventory Builds and Potential OPEC Production Increases Drive Crude Oil Prices Down

    Unexpected Inventory Builds and Potential OPEC Production Increases Drive Crude Oil Prices Down

    Broke On: Wednesday, 05 June 2024 Unexpected inventory builds and potential OPEC production increases led to a weekly decline in crude oil prices, despite optimistic outlooks from some analysts.
  • OPEC to Make Crucial Decision on Oil Output Cuts this Weekend: Balancing Market Expectations and Global Demand

    OPEC to Make Crucial Decision on Oil Output Cuts this Weekend: Balancing Market Expectations and Global Demand

    Broke On: Friday, 31 May 2024 OPEC is finalizing oil-output cuts of around 2 million barrels a day through the second half of 2021 and potentially into 2025 at this weekend's meeting. Amid market volatility from geopolitical tensions, pandemic recovery, and shifting demand, OPEC aims to stabilize oil markets with production management.
  • US Energy Market: Gasoline and Diesel Demand Reach Seasonal Lows, Impacting Refining Margins and Crude Oil Prices

    US Energy Market: Gasoline and Diesel Demand Reach Seasonal Lows, Impacting Refining Margins and Crude Oil Prices

    Broke On: Wednesday, 08 May 2024 U.S. gasoline and diesel demand reach lowest seasonal levels since the COVID-19 pandemic, impacting refining margins and crude oil prices, raising concerns over a slowing economy or increased adoption of renewable energy sources.