OPEC cuts its 2024 oil demand growth forecast by 135,000 bpd due to weaker Chinese demand. The cartel also lowered its 2025 oil demand growth estimate. OPEC acknowledges uncertainties in the global economy, impacting oil […]
Russia’s oil firms have reduced pace of drilling from last year’s record as the nation deepened its OPEC+ production cuts. Rigs drilled 14,370 kilometers (8,930 miles) of production wells in Russia from January to June, […]
Saudi Arabia’s gross domestic product contracted again in the second quarter compared to year-ago levels, pushed down by an 8.5% dip in oil activities as the Kingdom is cutting oil production as part of the […]
Some very big and important things are happening in the world, and it seems that we’re not paying attention at all. We are becoming so fixated on the simple, the sensational, that we’re not noticing […]
Rystad: global recoverable oil reserves held largely steady at around 1,500 billion barrels. The largest downward revisions are seen in Saudi Arabia, where development priorities have shifted from offshore capacity expansions to onshore infill drilling. […]
Fuel oil imports in June highest since at least November 2020 World’s biggest crude exporter buys fuel oil for power plants Saudi Arabia boosted imports of the dirtiest type of oil to the highest in more […]
OPEC has stuck to its forecast for relatively strong growth in global oil demand in 2024 and 2025, citing resilient economic growth and strong rebound in air travel in the summer months. In its latest Monthly Oil […]
Recent data from Kpler reveals a significant decline in crude oil exports from major OPEC+ producers in June, driven largely by weak demand in Asian markets and increased domestic consumption in the Middle East. This […]
The Group of Seven “likely” abandoned the US plan to expropriate Russia’s frozen central bank assets due to a “veiled threat” from Saudi Arabia, Bloomberg has reported. The US and UK had been pushing for […]
Daily Standup Top Stories Court blocks Biden admin’s ban on new LNG exports – Is this because of the Chevron Deferenence Supreme Court Decision? July 1, 2024 Stu Turley A federal judge issued a ruling Monday […]
Copyright © 2026 | Sandstone Group