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Oil, Gas Activity in U.S. Holds Steady

Oil, Gas Activity in U.S. Holds Steady

The total number of active…

Energy / Crude Oil

China's Oil Demand to Peak Before 2027, Says Sinopec

May 29, 2024 at 11:08 | Michael Kern

China Petroleum & Chemical Corporation, or Sinopec, expects oil demand in China to peak before 2027, according to the 2024 edition of the China Energy Outlook 2060 that the world’s…

Canada’s Oil Resurgence is Doomed Without Younger Workers

May 28, 2024 at 13:34 | Tsvetana Paraskova

Canada's oil industry is booming, but companies in its top oil-producing province, Alberta, are struggling to hire and retain skilled talent to seize the opportunity of greater market access that…

Global Oil Market on Edge Ahead of OPEC+ Meeting

May 28, 2024 at 06:04 | ZeroHedge

By Jake Lloyd-Smith, Bloomberg Markets Live reporter and strategist The global oil market is in OPEC+ walk-up mode. That should keep prices supported this week ahead…

Oil, Gas Drilling Activity Slips in the U.S.

May 24, 2024 at 12:06 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total…

The U.S. Is Determined to Revolutionize Its Microchip Industry

May 24, 2024 at 10:57 | Felicity Bradstock

The U.S. is fighting to become one of the biggest microchip producers in the world in pursuit of taking a leading role in the global green transition. While China continues…

EIA Confirms Small Crude Inventory Build, Gasoline Draw

May 22, 2024 at 09:35 | Irina Slav

WTI crude oil traded below $78 today after the U.S. Energy Information Administration reported an estimated inventory increase of 1.8 million barrels for the week to May 17. This…

Russian And Iran’s New ‘Energy Corridor’ Is Packed With Dangers For The West

May 21, 2024 at 08:33 | Simon Watkins

Two announcements made on consecutive days last week may have far-reaching consequences for the security of the Middle East and the West for years to come if they reach the…

China Tightens Its Grip On Iraq With Major Successes in Licensing Rounds

May 20, 2024 at 08:28 | Simon Watkins

Iraq remains crucial to China’s ongoing efforts to establish dominance over the Middle East for three main reasons, which is why the slew of new ‘fifth-plus’ and sixth oil and…

Oil, Gas Activity in U.S. Holds Steady

May 17, 2024 at 12:08 | Julianne Geiger

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday. The total…

SPR Levels Remain Low

May 17, 2024 at 08:55 | Robert Rapier

Over the past week, multiple stories have appeared in the media with headline phrases like “The U.S. is refilling the Strategic Petroleum Reserves.”…

Two Sectors Driving the Future of Oil Demand

May 16, 2024 at 13:20 | Rystad Energy

Oil demand will rise further in the medium term, according to Rystad Energy research and modeling, as low-carbon alternatives are not yet sufficiently developed or economically competitive to offset the…

Asian Refiners Diversify Away from Middle Eastern Oil

May 16, 2024 at 10:40 | Irina Slav

Asian refiners are reducing their intake of Middle Eastern oil in favor of crude from the United States and Brazil. The move comes amid shrinking margins and rising Saudi oil…

Banks Remain Financially Committed to Oil Despite Transition Shift

May 16, 2024 at 09:37 | Irina Slav

There is no large international bank without a net-zero plan. These plans invariably include curbs in lending to the oil and gas industry. Yet despite these plans. Most of the…

Could Renewable Diesel Crush Oil Demand?

May 16, 2024 at 09:07 | ZeroHedge

By John Kingston of FreightWaves With the benchmark diesel price used for most fuel surcharges down for the fifth week in a row,…

Traders Ditch Bullish Bets on Oil

May 15, 2024 at 12:42 | Tsvetana Paraskova

A continuously fading war risk premium and signs that regional oil markets look well supplied prompted traders to slash last week their bullish bets on crude oil at the fastest…

Iraq Looks To Finish Phase 1 of CSSP Oil Megaproject by 2028

May 15, 2024 at 10:58 | Simon Watkins

Perhaps more than any other single factor, the Common Seawater Supply Project (CSSP) is critical in enabling Iraq to dramatically increase its crude oil production. It was delayed for over…

Oil Ticks Higher on Inventory Draw

May 15, 2024 at 09:35 | Irina Slav

Crude oil prices recovered somewhat after the Energy Information Administration reported an inventory decline of 2.5 million barrels for the week to May 10. This inventory change 

Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory

May 13, 2024 at 09:50 | City A.M

Russia has found huge oil and gas reserves in British Antarctic territory, potentially leading to drilling in the protected region. The reserves uncovered…

OPEC Signals Lasting OPEC+ Alliance in Oil Market Management

May 10, 2024 at 10:12 | Tsvetana Paraskova

OPEC is preparing to replace the ‘call on OPEC’ forecast of global demand for the cartel’s crude oil with ‘call on OPEC+ crude’ in its closely-watched monthly oil market report,…

Canada's Oil and Gas Industry Soars to New Heights

May 09, 2024 at 10:05 | Haley Zaremba

As Canada’s oil and natural gas production hit record high levels, the country is taking pains to amplify its status as a global oil and natural gas superpower. One part…

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