Chevron announced that non-essential employees and contractors have been pulled from four platforms in the US Gulf of Mexico ahead of a tropical storm. Potential Tropical Cyclone Six, or Invest 91L, churns in the southwestern Gulf […]
According to the vice president of research at S&P Global, OPEC+ has decided to extend production cuts until the end of 2024. The alliance then plans to start adding supply to the market in 2025. […]
Trafigura expects Brent oil prices to fall into the $60 per barrel range in the near future, although warns traders to be cautious. Weak Chinese oil demand and rising non-OPEC supply are contributing to the […]
The Libya supply outage is propping up several light crude oil grades. U.S. WTI Midland crude could replace lost volumes of Libyan crude in the short term: Reuters. U.S. crude is set to compete with […]
Saudi Arabia’s breakeven oil price has risen due to increased spending on Vision 2030 and production cuts aimed at supporting oil prices. The IMF warns that Saudi Arabia needs an oil price of $96.20 per […]
Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for oil projects are also the lowest in the world, at around just $10 […]
Weekly Daily Standup Top Stories Saudi Arabia Expected to Cut Its Oil Prices to Asia for October September 2, 2024 Stu Turley Saudi Aramco is expected to cut the OSP of its crude oil for Asia […]
It’s only going to get worse from here, as the Biden-Harris administration’s disastrous open border policies have now come to a ‘neighborhood near you’ (for some of you). In the past week, we saw armed Venezuelan prison gang Tren de […]
Oil prices have dropped significantly in the past week, with Brent crude falling below $74 per barrel. Gazprom Neft’s CEO, Alexander Dyukov, believes oil prices will stabilize soon despite current pressures. Dyukov added that OPEC+ […]
OPEC+ agreed to pause its planned oil output hike for two months after prices plunged amid fragile demand and plentiful supply. Key coalition members won’t go ahead with the scheduled hike of 180,000 barrels a day in […]
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