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. […]
WASHINGTON, July 24 (Reuters) – Democratic U.S. lawmakers on Wednesday introduced a bill to hold energy companies accountable if they are found by federal regulators to have colluded with the Organization of the Petroleum Exporting […]
From the mid-1990s to onset of Covid at the end of 2019, China almost singlehandedly drove the commodities supercycle, consisting of ever-increasing prices for the key materials it required to drive its extraordinary economic growth. […]
New data from Vortexa shows VLCC utilisation for OPEC+ – excluding Iran and Venezuela – fell sharply during June and reached a record low earlier this month, as exports from the group, especially Saudi Arabia, […]
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 […]
Higher production in Nigeria and Iran boosted OPEC’s oil production in June for a second month in a row, according to the monthly Reuters survey published on Tuesday. OPEC’s all 12 producers pumped 26.7 million barrels per […]
Daily Standup Top Stories Joe Biden Plans to Use Oil Reserves to Artificially Lower Gas Prices Before the November Election June 18, 2024 Mariel Alumit Joe Biden plans to deplete the U.S. oil reserves to artificially […]
Oil prices have bounced back after the last OPEC+ announcement sent them crashing, and the U.S. Federal Reserve could send them higher still with optimistic messaging. – Oil markets were eagerly anticipating the start of […]
StanChart has forecast 1.68 mb/d growth in 2024 and 1.41 mb/d in 2025. StanChart has reiterated its previous assessment that not only can the markets absorb the extra barrels by OPEC+ producers but that a […]
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