Saudi Arabia is exporting and producing less oil amid ongoing regional conflicts and shipping disruptions, yet its oil revenues have risen sharply thanks to elevated crude prices. This paradox highlights the resilience of the Kingdom’s energy sector even as capacity constraints, security threats, and infrastructure damage create significant hurdles. In the second quarter of 2026, […]
Continue Reading
Kuwait’s crude oil production averaged 1.971 million barrels per day (bpd) in July 2026, up from about 1.65 million bpd in June, according to a source familiar with the matter. This brings output close to the 2 million bpd level and marks continued recovery after severe disruptions earlier in the year. The rebound follows the […]
Continue Reading
For years, the dominant energy narrative has been a single, heavily marketed story: the world is undergoing an inevitable, morally urgent transition away from fossil fuels toward wind, solar, and battery storage. Climate activists, aligned media, and policymakers have framed this as both destiny and imperative. As David Blackmon observed in his August 2, 2026, […]
Continue Reading
In late June 2026, President Donald Trump publicly singled out ExxonMobil, Chevron, Shell, and BP, accusing the “big Oil Companies” of failing to lower gasoline prices at the pump in line with falling crude oil costs. In comments to the media and on Truth Social, he argued that with oil prices dropping sharply, Americans should […]
Continue Reading
U.S. oil and gas drillers added a single active rig in the latest weekly tallies, signaling continued capital discipline and steady rather than accelerating activity heading into late summer 2026. According to the WellDatabase US Rig Report dated July 31, 2026 (published in partnership with Energy News Beat), the national active rig count reached 576, […]
Continue Reading
In this explosive episode of the Energy News Beat Daily Standup, host Stu Turley breaks down ten major stories that expose a widening chasm between what financial markets are signaling and what’s actually happening on the ground in global energy infrastructure. From a $40-50 disconnect between paper oil prices and physical barrel delivery costs, to […]
Continue Reading
In the second quarter of 2026, ExxonMobil and Chevron delivered blockbuster earnings, fueled by elevated oil prices stemming from the ongoing Iran conflict and associated supply disruptions in the Middle East, including pressures around the Strait of Hormuz and Red Sea. These results highlight the resilience of the U.S. majors’ integrated portfolios amid geopolitical volatility, […]
Continue Reading
“The Tale of Two UK Oil Companies” could be the title of an old book, movie, or play. But sadly, it is a real-life story of how a once great country is imposing a self-imposed death spiral of deindustrialization and financial collapse. The very same death spiral the Blue / Net Zero crowd in the […]
Continue Reading
President Donald Trump announced this week that U.S.-controlled sales of Venezuelan oil have generated more than $13 billion since the January 3, 2026, capture of former President Nicolás Maduro. The figure aligns with Financial Times calculations of revenues held in U.S. Treasury accounts. Trump stated the proceeds have “paid for that war many times over,” […]
Continue Reading
The U.S. Energy Information Administration (EIA) released its Weekly Petroleum Status Report on July 29, 2026, covering the week ending July 24, 2026. Commercial crude oil inventories (excluding the Strategic Petroleum Reserve) fell by 7.2 million barrels (precisely 7.167 million barrels) to 404.5 million barrels. This marked a sharp draw that far exceeded market expectations […]
Continue Reading