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Could Renewable Diesel Crush Oil Demand?

Could Renewable Diesel Crush Oil Demand?

Diesel prices continue to fall…

SPR Levels Remain Low

SPR Levels Remain Low

Despite claims, the U.S. has…

Energy / Crude Oil

U.S. Oil and Gas Production Continues to Shatter Records

May 03, 2024 at 10:22 | Robert Rapier

Last year marked a record for U.S. oil production with an average daily production of 12.93 million barrels per day (BPD). That record…

Developing Nations Look to Balance Oil and Gas Opportunity with Climate Concerns

May 03, 2024 at 10:19 | Felicity Bradstock

As the world focuses on transitioning to green, there are big questions about whether new oil and gas resources should be developed. On the one hand, new oil regions present…

Iran’s “Dark Fleet” of Oil Tankers Continues to Thrive Despite Sanctions

May 03, 2024 at 10:11 | RFE/RL staff

Iran is one of the most sanctioned countries in the world. But restrictions imposed by the United States have largely failed to stymie Iran's oil exports, the backbone…

High Oil Prices Force Biden Admin to Halt SPR Refill Plans

May 03, 2024 at 10:05 | Robert Rapier

Despite indicating they would refill the Strategic Petroleum Reserve (SPR) by the end of this year, the Department of Energy

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…

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