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Energy / Crude Oil

Abundant Russian Supply Causes Drop In Refinery Margins

Apr 25, 2023 at 07:42 | Charles Kennedy

Global refining margins have halved since February as Russian crude exports remain elevated despite sanctions, boosting fuel output from China and India, Reuters has reported, noting…

Top 10 Countries With Largest Oil Reserves

Apr 24, 2023 at 10:29 | Irina Slav

We all know who the biggest producers of crude oil in the world are and can list the top three without effort. But here’s the thing –…

China’s Economy Is Picking Up, But Oil Demand May Disappoint

Apr 24, 2023 at 09:08 | Simon Watkins

China’s economy grew by 2.2 percent on a seasonally adjusted basis in the first quarter (Q1), a massive improvement on the previous quarter’s 0.6 percent growth. Also positive from the…

Chinese Refiners Snap Up Discounted ESPO And Urals Crudes

Apr 21, 2023 at 09:14 | Josh Owens

China imported the highest-ever volumes of Russian crude oil in March, which kept Russia on top of Chinese crude suppliers’ list ahead of Saudi Arabia, government data from China showed…

M&A Activity In The Permian To Pick Up In 2023

Apr 20, 2023 at 13:05 | Tsvetana Paraskova

Reports of supermajor ExxonMobil holding informal discussions to buy the top pure-shale firm, Pioneer Natural Resources, reignited market talk about the start of the next phase of mergers and acquisitions…

Standard Chartered: Oil Demand To Hit All-Time High In August

Apr 19, 2023 at 12:16 | Alex Kimani

Previously, we reported that energy agencies have been growing more bearish with their forecasts on oil demand growth with four experts including  IEA and OPEC Secretariat giving divergent views.…

Why Biden Needs To Relax Sanctions Against Venezuela

Apr 19, 2023 at 10:41 | Matthew Smith

The recent shock OPEC+ production cut of nearly 1.2 million barrels per day caught the world by surprise and caused the price of oil to spiral higher, with Brent soaring…

Norwegian Crude Becomes Mainstay For EU Refiners As They Ditch Urals

Apr 19, 2023 at 10:05 | Tsvetana Paraskova

The continuous shift in oil trade flows following the EU embargo on Russian exports is a huge win for the crude from Western Europe's largest oilfield offshore Norway.  Norway's Johan…

Oil Prices Fall Despite Crude Inventory Draw

Apr 19, 2023 at 09:42 | Irina Slav

Crude oil prices inched lower today, after the U.S. Energy Information Administration reported an inventory draw of 4.6 million barrels for the week to April 14. This compared with…

Russia Finds New Market For Its Fuels In The Middle East

Apr 18, 2023 at 11:03 | Tsvetana Paraskova

The trade shift in Russian oil flows is benefitting Moscow’s Middle Eastern allies in the OPEC+ pact as the biggest Arab Gulf oil producers, Saudi Arabia and the United Arab…

Gold And A New Crude Benchmark: A New Dawn For The Petroyuan?

Apr 18, 2023 at 10:31 | ZeroHedge

Did you know that central banks bought more gold last year than any year in the past 55 years—since 1967? Though most don’t realize it, 1967…

Oil Demand Predictions Vary Wildly Among Energy Agencies

Apr 17, 2023 at 14:14 | Alex Kimani

Projecting long-term oil demand during the ongoing energy transition has been likened to trying to catch lightning in a bottle, with prognostications by different experts varying wildly. Oil 

O’Leary Looks For A U.S. State To Host His $14 Billion Refinery

Apr 14, 2023 at 10:04 | Tsvetana Paraskova

Shark Tank investor Kevin O'Leary has just announced plans to build a new $14-billion refinery in the United States to help America become more energy independent.    The U.S. needs a…

What Does The Future Look Like For Oil & Gas?

Apr 14, 2023 at 09:45 | Irina Slav

Predicting how an industry will look 20 or more years from now is always a challenge. There are always unforeseen factors that have potential powers of disruption that could throw…

OPEC’s Crude Oil Production Falls In March

Apr 13, 2023 at 10:55 | Julianne Geiger

OPEC’s crude oil production fell to 28.797 million bpd, according to OPEC’s latest edition of its Monthly Oil Market Report. According to OPEC’s secondary sources, OPEC’s 13 members produced 86,000…

Guyana To Pump 1.2 Million Barrels Of Oil Per Day By 2027

Apr 13, 2023 at 10:05 | Matthew Smith

The small Caribbean nation of Guyana is experiencing a colossal oil boom which keeps getting bigger and bigger. In January 2023,…

Small Declines In Fuel Inventories Bolster Oil Prices

Apr 12, 2023 at 09:41 | Irina Slav

Crude oil prices changed little today after the Energy Information Administration estimated a modest inventory increase of 600,000 barrels for the week to April 7. This compared with…

New Canadian Pipeline To Boost Oil Prospects

Apr 12, 2023 at 09:38 | Felicity Bradstock

Canadian oil producers have repeatedly pushed for new oil transportation links and pipeline expansion projects in recent years without much avail. The massive Keystone XL pipeline project was halted by…

Iraq Must Diversify Despite Strong Oil Revenues

Apr 12, 2023 at 09:33 | Felicity Bradstock

After a successful 2022, Iraq’s oil and gas industry has faced challenges this year following the closure of an export pipeline in the north of the country. Conflict over the…

Oil Tanker Markets Upended As Trade Routes Shift

Apr 11, 2023 at 15:31 | Tsvetana Paraskova

The Western embargoes on seaborne imports of Russian crude and refined products have upended traditional oil shipping routes and resulted in inefficient trade patterns that make shipping fuels more expensive…

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