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Rising Chinese Crude Demand Sends Supertanker Rates Soaring

Mar 20, 2023 at 12:21 | Tsvetana Paraskova

Shipping rates for supertankers have recently shot up above $100,000 a day as the market for very large crude carriers (VLCC) tightens and Chinese oil demand rises.   Chinese refiners are…

Goldman Sachs No Longer Sees $100 Oil In 2023

Mar 20, 2023 at 11:39 | Irina Slav

Last week, oil prices booked their worst week since the start of the year, dropping off a cliff on renewed fears about the global economy after the collapse…

Humanity On Thin Ice, Says Latest UN Climate Report

Mar 20, 2023 at 11:19 | Michael Kern

In its latest climate report, the United Nations warns that “humanity is on thin ice” and “ice is melting fast” as greenhouse gas emissions continue to increase.  From 2010 to…

EU Looks To Extend Natural Gas Consumption Cuts For Another Year

Mar 20, 2023 at 09:07 | Michael Kern

The European Commission on Monday proposed extending the emergency measure which targets a 15% reduction in the bloc’s natural gas consumption by another 12 months to the end…

Oil Prices Head Lower As Credit Suisse Shares Plunge By 60%

Mar 20, 2023 at 07:50 | Tsvetana Paraskova

The selloff in oil continues on Monday, with Brent falling to the $72 a barrel mark and U.S. crude down to the $65 per barrel handle, as traders are cutting…

Russia Overtakes Saudi Arabia To Become China’s Top Oil Supplier

Mar 20, 2023 at 05:09 | Tsvetana Paraskova

Russia was the single largest crude oil supplier to China in January and February, overtaking Saudi Arabia which was the number-one supplier of oil to China last year, according to…

China’s Diesel Exports Soared In January and February

Mar 20, 2023 at 02:28 | Charles Kennedy

China exported 4.54 million tons of diesel in the first two months of the year, up 10 times from last year’s export rate, which stood at 420,000 tons, government data…

Are Oil Stocks Too Good For ESG Investors To Pass Up?

Mar 17, 2023 at 13:31 | Irina Slav

“We know that the transition will not be a straight line. Different countries and industries will move at different speeds, and oil and gas will play a vital role in…

Standard Chartered Blames Gamma Hedging For Overdue Oil Selloff

Mar 17, 2023 at 13:23 | Alex Kimani

The energy sector has emerged as the worst performer among all 11 sectors of the U.S. market in the current week, with energy prices dropping sharply as a 

U.S. Drilling Makes Gains As Gas Rig Count Jumps

Mar 17, 2023 at 12:12 | Julianne Geiger

The total number of total active drilling rigs in the United States rose by 8 this week, with gas-directed rigs making all the gains, according to new data from Baker…

Is Chinese Demand Growth Now The Only Bullish Driver For Crude?

Mar 17, 2023 at 12:03 | Tsvetana Paraskova

China’s recovery is underway, and many anticipate that China’s recovery will mean calls for additional crude oil, bolstering oil prices. But China’s economic reemergence is anything but a sure thing…

Iraq And UAE Spearhead Downstream Expansion

Mar 17, 2023 at 10:24 | Cyril Widdershoven

Oil markets have been affected by financial market challenges, inflation, and the war in Ukraine. Nevertheless, Arab Gulf countries remain resolutely optimistic, evidenced by new refinery and storage plans being…

Sri Lanka’s Energy Crisis Is Weighing On its Economy

Mar 17, 2023 at 10:19 | Felicity Bradstock

Discussions around Sri Lanka’s energy crisis may have died down since reports of a major financial crisis in the Asian country circulated last summer, but Sri Lanka is still a…

Residential Heat Pumps Could Cut U.S. Energy Consumption In Half

Mar 17, 2023 at 10:11 | Haley Zaremba

In November of last year, some of the greatest minds and biggest influencers in the global energy sector gathered in Sharm el Sheikh, Egypt for the 27th annual Conference of…

The Willow Oil Controversy, Explained

Mar 17, 2023 at 10:04 | Felicity Bradstock

After years of uncertainty, ConocoPhillips’ Willow project has finally got the green light in Alaska. Stakeholders were unsure whether Willow would go ahead after several delayed oil and gas leases…

Coal Is Still King In Asia, But Renewables Are On The Rise

Mar 17, 2023 at 10:01 | ZeroHedge

The International Energy Agency (IEA) predicts that Asia will account for half of the world’s electricity consumption by 2025, with one-third of global electricity being consumed in China.…

Taiwan Looks To Replace Nuclear Power With LNG

Mar 17, 2023 at 09:57 | Josh Owens

Taiwan is buying more LNG for delivery over the next year as it closed a nuclear reactor and is set to phase out nuclear power generation by 2025.  Taiwan’s CPC…

Here’s How Gasoline Prices Fared Under The Last Four Presidents

Mar 17, 2023 at 09:54 | Robert Rapier

In June 2022, driven by a combination of the Russian invasion of Ukraine, an economic recovery from Covid-19, and arguably certain policies of the Biden Administration, the average…

OECD: Falling Energy Prices Could Bolster Global Economic Growth

Mar 17, 2023 at 09:49 | Michael Kern

Signs have emerged of a slight improvement in the global economy, thanks to falling energy and food prices in early 2023, the OECD said on Friday as it raised its…

President Petro Can’t Afford To Ban Oil Exploration In Colombia

Mar 17, 2023 at 09:49 | Matthew Smith

A contentious move by Colombia’s first leftist President Gustavo Petro to end hydrocarbon exploration in the strife-torn Latin American country has exposed one of the domestic oil industry’s long…

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