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Breaking News:

Asian Oil Imports Dropped in April

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Despite Congress passing new sanctions…

Will Namibia Become OPEC’s Newest Member?

Will Namibia Become OPEC’s Newest Member?

Namibia wants to join OPEC…

Energy / Crude Oil

Exxon's $60 Billion Pioneer Deal Set to Create Energy Supergiant

May 02, 2024 at 08:44 | ZeroHedge

Having adversely intervened in virtually every other M&A deal in the past 3 years, the Biden FTC will reportedly allow Exxon's $60 billion purchase of Pioneer to go…

The Next Two Months Will Be Critical For Oil Fundamentals

May 01, 2024 at 17:21 | Alex Kimani

Energy markets have kicked off the new month on the back foot, with oil prices sliding 3% in Wednesday’s intraday session following a surprise U.S. inventory build amid lingering uncertainty…

The Permian Shrugs Off Below-Zero Natural Gas Prices in Texas

May 01, 2024 at 10:51 | Tsvetana Paraskova

Permian producers are not shutting in oil wells with associated natural gas despite the fact that the Texas regional gas price has been stuck at below-zero levels since early March.…

Large Crude Inventory Build Rocks Oil Prices

May 01, 2024 at 09:37 | Irina Slav

Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with…

The U.S. Supermajors Double Down on World's Top Oil Basins

Apr 30, 2024 at 12:32 | Tsvetana Paraskova

Profits at ExxonMobil and Chevron have dropped compared to the record-highs of the past two years, but the U.S. supermajors are doubling down on oil production from the two most…

OPEC Chief Challenges Reports Predicting Demise of Oil Demand

Apr 29, 2024 at 15:57 | Irina Slav

Reports on what authors like to call the end of the oil era were a frequent reading some 20 years ago. At the time, the focus was peak supply and…

Washington's Pleas Fall on Deaf Ears as Ukraine Strikes Russian Refineries

Apr 26, 2024 at 09:25 | ZeroHedge

Just days after the Biden administration signed a new military aid package worth billions of dollars to Ukraine, Kyiv launched a series of suicide drone attacks on Russian oil refineries. Biden's…

The Future of Plastics Will Determine the Future of Oil Demand

Apr 26, 2024 at 08:35 | Irina Slav

The UN is this week discussing the future of plastic—or so it would seem on the surface. The UN Global Plastics Treaty negotiations aim to curb plastic pollution by essentially…

Shale Helps Insulate U.S. from Oil Shocks—But Not Entirely

Apr 25, 2024 at 09:39 | Irina Slav

The Arab oil embargo from 1973 is a painful memory for those who lived through it. It was the reason for creating the Strategic Petroleum Reserve in the United States…

Standard Chartered: Global Oil Demand Will Pick Up Strongly In May And June

Apr 24, 2024 at 15:21 | Alex Kimani

Oil prices have held steady week on week despite a significant inventory build in U.S. crude two weeks ago, which was countered by a draw in U.S. crude…

Oil Moves Higher on Inventory Draw

Apr 24, 2024 at 09:37 | Irina Slav

Crude oil prices ticked higher today after the U.S. Energy Information Administration reported an estimated decline of 6.4 million barrels in inventories for the week to April 19. This 

Texas Deepwater Oil Export Projects Stall

Apr 23, 2024 at 16:48 | Tsvetana Paraskova

Slowing U.S. crude oil production growth and changed global oil flows have stalled projects by pipeline giants and oil majors to have deepwater ports built off the Texas coast to…

Why Biden is Unlikely to Enforce the New Iran Oil Sanctions

Apr 23, 2024 at 09:03 | ZeroHedge

Over the weekend, as part of the $95 billion package providing funding for aiding Ukraine, Israel and Taiwan which passed by a vote of 360-58 on Saturday, the…

Namibia Racks Up Another Major Offshore Oil Discovery

Apr 22, 2024 at 18:04 | Alex Kimani

Shares of Portuguese integrated energy operator Galp Energia (OTCPK:GLPEF) (OTCPK:GLPEY) have popped more than 20% in Monday’s early trading session after the company announced that the first phase of its exploration…

Suriname’s Resource Boom is Back on Track With First Oil Targeted for 2028

Apr 22, 2024 at 09:31 | Matthew Smith

Former Dutch colony Suriname shares the offshore Guyana Suriname Basin with the former British colony of Guyana, which is reaping a massive economic windfall from one of South America’s…

Big Oil’s Carbon Capture Conundrum

Apr 19, 2024 at 09:55 | Felicity Bradstock

Hard-to-abate industries, particularly oil and gas, are racing to increase their carbon capture capacity as they strive to decarbonise operations. Despite being some of the biggest carbon emitters, many oil…

Will Namibia Become OPEC’s Newest Member?

Apr 19, 2024 at 09:52 | Irina Slav

Namibia wants to join OPEC as it prepares to reap the benefits of its crude oil resources, with daily production capacity seen at an impressive 700,000 bpd in 2030—the first…

Nigeria To Launch Crude Trading at its Commodity Exchange

Apr 19, 2024 at 09:29 | Charles Kennedy

Africa’s biggest oil producer, Nigeria, plans to offer up to 20% of its crude oil production for trading on its commodities exchange, Akinsola Akeredolu-Ale, the chief executive of the Lagos…

U.S. Shale Oil Production Growth Is Slowing Down

Apr 18, 2024 at 10:24 | Irina Slav

At the start of this week, following Iran's missile attack on Israel, oil prices inched up. The key word here was "inched". The attack was a first; it came from…

Standard Chartered Says Peak Oil Demand Is Not Imminent

Apr 17, 2024 at 17:13 | Alex Kimani

The oil price rally has lately lost some steam, with WTI for May delivery and June Brent futures slipping more than 5% since Friday after the Energy Information Administration (EIA)…

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