Michael Kern

Latest articles from Michael

• Russia’s Weekly Oil Exports Jump To Highest Level In Over A Month

  Published 20 February 2023 | viewed 6,491 times

  Russian crude oil exports by sea surged by 26% to 3.6 million barrels per day (bpd) in the week ending February 17, the highest level…

• WTI Tumbles As Dollar And Crude Inventories Climb

  Published 17 February 2023 | viewed 19,283 times

  The spread between WTI and other benchmarks is widening as several bearish factors combine in the United States to push prices lower.Oilprice Alert: In a rare…

• Notorious Drug Trafficking Hub Used For Russian Oil Shipments

  Published 16 February 2023 | viewed 11,126 times

  A Spanish city on the northern coast of Africa between the Mediterranean and the Atlantic Ocean, notorious for being a drug-trafficking hub, has become a…

• Barclays Vows To Stop Financing Oil Sands Projects

  Published 15 February 2023 | viewed 3,077 times

  Barclays on Wednesday said it would no longer provide financing to oil sands companies or oil sands projects and tightened conditions for thermal coal lending…

• Global Oil And Gas Industry Sees Profits Soar To $4 Trillion

  Published 14 February 2023 | viewed 4,021 times

  The combined income of the global oil and gas industry surged to nearly $4 trillion last year, up from an average of $1.5 trillion in…

• The First Major Oil Supply Disruption Of 2023

  Published 10 February 2023 | viewed 81,749 times

  In what is set to be the first major supply disruption of 2023, Russia has announced a 500,000 bpd voluntary production cut due to growing…

• Azeri Oil Exports From Turkey Expected To Be Delayed Until Next Week

  Published 09 February 2023 | viewed 1,268 times

  Shipments of Azeri crude oil from the southern Turkish port of Ceyhan are not expected to be restored until late next week, as assessment of…

• Iran Expects $100 Oil When Chinese Demand Rebounds

  Published 08 February 2023 | viewed 5,021 times

  Oil prices could return to the $100 per barrel mark in the second half of 2023 on the back of rising Chinese demand and expected…

• Oil Prices Climb Despite Underwhelming Chinese Demand

  Published 07 February 2023 | viewed 9,896 times

  Despite a relatively underwhelming rebound in Chinese demand, oil prices were pushed higher at the start of this week by the embargo on Russian oil…

• Chevron Looks To Seal Gas Exploration Deal In Algeria

  Published 06 February 2023 | viewed 2,717 times

  U.S. supermajor Chevron has increased efforts to reach an energy exploration agreement with Algeria and is assessing the North African country’s estimated huge shale gas…

• Russia’s Oil And Gas Revenues Slump 46% Year-Over-Year

  Published 03 February 2023 | viewed 11,226 times

  Russia’s budget revenues from oil and gas plunged in January by 46% compared to the same month last year due to the sanctions on Russian…

• Europe’s Gas Prices Set For 6% Weekly Gain As Cold Weather Closes In

  Published 03 February 2023 | viewed 3,816 times

  Europe’s benchmark gas prices were set to post a 6% weekly gain on Friday, the biggest gain since early December, due to expected colder temperatures…

• Oil Prices Under Pressure Despite Looming Fuel Embargo

  Published 03 February 2023 | viewed 6,574 times

  Oil prices are under pressure from a slew of bearish news coming out of the United States this week, but the looming EU embargo on…

• OPEC’s Oil Production Drops In January As Saudi Arabia Cuts Output

  Published 02 February 2023 | viewed 11,170 times

  OPEC’s crude oil production fell in January by around 60,000 barrels per day (bpd) due to cuts by top producer Saudi Arabia which may have…

• Disappointing Returns May Force BP To Rein In Its Renewable Energy Push

  Published 01 February 2023 | viewed 7,739 times

  Bernard Looney, the chief executive of BP, has recently discussed plans with people close to the supermajor to potentially scale back the company’s push into…

• Libyan Oil Ministry Rejects $8 Billion Gas Deal With Eni

  Published 31 January 2023 | viewed 2,482 times

  Libya’s Oil Ministry has rejected the huge $8-billion deal that the Italian energy giant signed with the Libyan National Oil Corporation (NOC) this weekend, saying…

• Traders Turn Bullish On Oil As Majors Report Earnings

  Published 31 January 2023 | viewed 4,894 times

  Oil majors are rounding up the 2022 financial year with outstanding profit numbers, a development that faces strong backlash from the Biden Administration. Chart of…

• Exxon Posts Highest Profits In Western Oil Company History

  Published 31 January 2023 | viewed 7,492 times

  ExxonMobil (NYSE: XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever. Exxon said…

• Venezuela Demands Prepayment For Its Oil

  Published 30 January 2023 | viewed 25,542 times

  Venezuela’s state-owned oil firm PDVSA has tightened the prepayment rules for its oil after a review of contracts, demanding now cargoes be paid in cash…

• Chevron Reports Record-Breaking Profits For 2022

  Published 27 January 2023 | viewed 3,856 times

  Chevron (NYSE: CVX) reported on Friday its highest annual profit ever as its adjusted earnings for last year more than doubled from 2021 to hit…