Saudi Arabia has told OPEC that its crude production collapsed again in August 2026, falling 1.9 million barrels per day to 6.238 million b/d—the lowest level the kingdom has reported since 1990, at the outset of the Gulf War. Riyadh attributed the drop to renewed U.S.–Iran hostilities that squeezed its export routes. That official communication, […]
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Brent settled above $101 on Wednesday, September 9, and WTI followed through the $100 level on Thursday morning in a sharp rally. Physical benchmarks had already been there. Dated Brent has held above $100 since September 3. Murban, DME Oman, the OPEC basket, and the Indian basket were already trading over that threshold. Futures are […]
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The state is considering extending the life of its last nuclear power plant, Diablo Canyon, and allowing construction of new reactors to help meet its clean energy goals. California spent decades treating nuclear power as a political pariah. It shuttered every plant except Diablo Canyon, enacted a 1976-era moratorium on new reactors until a federal […]
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How high they go from here, and how long they stay elevated, depends less on crude alone than on a global refining system that is already running near its limits. Energy analyst John Kemp noted Wednesday that the combined cost of U.S. crude and refining margins is now higher than in early April. So far […]
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ENB Pub Note: This article was on Doug Sheridan’s LinkedIn post and his insights are spot on. Americans’ utility bills are delivering unpleasant surprises, with residential electricity prices rising at more than twice the rate of core inflation. California, Maine and New York have seen multi‑year rate hikes that would’ve been politically unthinkable a decade […]
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Chinese refiners are stepping back into the crude market while flooding product markets with extra gasoline and diesel, just as the rest of the world is running short of both barrels and refining capacity. August data show crude imports rising 6.2% from July to 8.93 million barrels per day, while refined product exports jumped 29% […]
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Berlin is talking to its own energy companies about filling gas storage without the government walking into the market and buying molecules itself. That is the story Bloomberg reported today, and it is the tell that Germany’s summer refill has not gone to plan. Officials have been discussing how Uniper SE and SEFE — both […]
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Kind of Ironic that we lost power over the holiday and had a great dry run. Hope everyone had a great Labor Day weekend. As we had company, a storm rolled in on us, and only 900 people in our county were without power. As you have heard me say, it is better to prepare […]
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Business Secretary Jonathan Reynolds will meet Jaguar Land Rover chief executive PB Balaji and Unite general secretary Sharon Graham early this week to discuss thousands of expected job cuts at Britain’s largest carmaker. JLR has opened a voluntary redundancy program for salaried and management staff as it targets £1.7 billion in savings over two years. […]
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Volkswagen’s board has approved the largest restructuring in the company’s 89-year history: about 100,000 jobs gone by 2030, a slashed model lineup, and four German plants—Emden, Zwickau, Hanover, and Audi’s Neckarsulm—facing a phased wind-down between 2031 and 2034. That is not a cyclical downturn. It is what happens when energy policy prices a manufacturing nation […]
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