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Crude Oil News

Texas
Crude Oil News

Texas Oil Town Odessa Now Among USA Cities With Highest Wages

November 30, 2024 Clark Savage

Texas oil town Odessa and Denver joined the top 10 US metropolitan areas with the highest weekly wages over the past year. San Jose, San Francisco and Midland, Texas, — Odessa’s bigger sister in the Permian […]

Crude Oil News

The Secretive Oil Shipping Hub Funneling Iranian Crude to China

November 30, 2024 Clark Savage

China and Iran have devised a complex system of ship-to-ship transfers in the South China Sea to bypass US sanctions on Iranian oil. This clandestine trade network allows China to continue importing significant amounts of […]

Crude Oil News

American Oil Rigs Continue Their Steady Decline

November 29, 2024 Clark Savage

The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Wednesday, after falling in the week prior. The […]

U.S. crude oil production
Crude Oil News

U.S. crude oil production established a new record in August 2024

November 29, 2024 Clark Savage

Data source: U.S. Energy Information Administration, Petroleum Supply Monthly An average of 13.4 million barrels per day (b/d) of crude oil was produced in the United States during August 2024, a new record according to data from […]

China
Crude Oil News

What’s driving decreasing gasoline consumption in China?

November 29, 2024 Clark Savage

Data source: China National Bureau of Statistics, China General Administration of Customs, and Bloomberg L.P. Note: We define apparent demand as refinery production plus imports minus exports. Gasoline consumption in China has begun to fall in recent […]

fossil fuel
Crude Oil News

UK fossil fuel generation hits all time low

November 29, 2024 Clark Savage

Fossil fuel electricity generation in the UK hit a record low in August 2024, averaging below 5 GW. This milestone coincided with the closure of Ratcliffe-on-Soar power station, marking the UK’s complete phase-out of coal […]

Big Oil Companies

Why Energy Giants Won’t Turn Their Backs on Oil

November 27, 2024 Clark Savage

Oil and gas companies are investing in renewables and clean tech but prioritize fossil fuel operations as global demand rises. Global emissions from fossil fuels reached a record high in 2024, despite renewable energy growth […]

OPEC+
Crude Oil News

The OPEC+ Meeting Is Looming Large Over Oil Markets

November 26, 2024 Mariel Alumit

Oil markets are fully focused on this Sunday’s OPEC+ meeting after top officials from the three biggest producers in the alliance met on Tuesday. – European gas prices have surged almost 45% this year and […]

Trump
Big Oil Companies

Exxon: Don’t Expect ‘Drill, Baby, Drill’ Under Trump

November 26, 2024 Mariel Alumit

U.S. shale producers, including ExxonMobil, are prioritizing financial stability and shareholder returns over aggressive drilling expansion despite political encouragement. President-elect Trump’s pro-energy agenda contrasts with the industry’s current focus on disciplined growth and resilience to […]

Pemex
Crude Oil News

Pemex suspends work for Paratus jackup

November 26, 2024 Mariel Alumit

Paratus John Fredriksen-backed Paratus Energy Services has received a suspension notice for one of its jackup rigs working for Pemex offshore Mexico. The Oslo-listed Paratus said that the jackup Courageous would temporarily cease operations for […]

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