Coming Soon to an Ocean Near You: Ships Moving a Tiny Bit Slower
If you happen to be at the beach this summer, make a mental note of any giant freighters crossing the horizon. In a few years’ time those same ships will Continue Reading
Iran says U.S.-caused oil spike will slow growth, add to tariff impact
A rise in oil prices caused by the United States’ sanctions policies will hurt economic growth in China, Europe and other consumers, much like President Donald Trump’s trade measures, a Continue Reading
Western powers welcome return of Libyan oil
Mustafa Sanalla, the head of Libya’s U.N.-backed oil company, said work is under way to bring production back to normal after four weeks of unrest. Photo courtesy of the National Continue Reading
Police End Protests At Iraq’s Southern Oil Fields
Iraqi police have managed to impose control over protesters at some of Iraq’s biggest oil fields in the south, who had been demanding that companies running the fields hire local Continue Reading
Iran Assures India It Will Supply Enough Oil
Iran will take care to supply India with all the oil it needs, the country’s embassy in India said , a day after deputy ambassador threatened India that Iran could Continue Reading
Libya’s Oil Production Ramps Up After Ports Reopen
Libya’s Abu Attifel oil field has restarted operations after a two-week halt due to the closure of oil ports—a closure that ended on Wednesday after Libya’s National Oil Corporation (NOC) Continue Reading
Government offers oil job promises to settle protestors
The Iraqi government on Thursday attempted to quell five days of protests outside vital Basra oil fields with promises of jobs, electricity, and clean water. One protestor was killed on Continue Reading
S. Arabia will be ‘Reluctant to Exhaust’ its ‘Substantial’ Spare Capacity
Saudi Arabia will be “reluctant to exhaust” its “substantial” spare capacity, according to oil and gas analysts at BMI Research. “Questions are being asked as to the extent to which Continue Reading
No End In Sight For Venezuela’s Oil Crisis
Venezuela’s oil production plunged by another 47,500 barrels per day (bpd) in June, compared to a month earlier. An exodus of workers and field shut downs were reported for the Continue Reading
Nigeria: Oil Sector Loses 754,000bpd to Pipeline Disruption
Nigeria’s oil sector is estimated to have lost over 754,000 barrels per day (bpd) in February, to production shut-in occasioned by pipeline vandalism, according to the latest monthly financial report Continue Reading
India data: Jun oil products demand rises 9% on year to 4.7 mil b/d
India’s oil products demand rose almost 9% in June on the year to 17.99 million mt, or 4.7 million b/d, the latest provisional data from the Petroleum Planning and Analysis Continue Reading
China’s Effort to Control Debt Loses Steam
China is letting up on its drive to keep a lid on debt growth as it faces a softening economy at home and escalating trade tensions with the U.S. Senior Continue Reading
China Is Dominating Global EV Markets
China’s dominant role in electric vehicle manufacturing and sales has yet to be curtailed by the trade war launched by President Donald Trump. The lack of impact can be demonstrated Continue Reading
China’s June crude imports at six-month low as ‘teapot’ buying slows; gas imports strong
China’s crude oil imports fell for the second month in a row in June to the lowest since December, as shrinking margins and volatile oil prices led some independent refiners, Continue Reading
Survival of the finest: miners reboot as smog-hit China seeks high grade ore
For miners seeking to cater to the changing appetite of China, the world’s biggest iron ore importer, all eyes are on Tangshan, the country’s biggest steel-making city and the drastic Continue Reading
Chinese H1 2018 coal imports hit 3-year high of 146 million mt
China imported 146 million mt of coal and lignite in the first half of 2018, up 9.9% from the previous year and a three-year high, according to preliminary data released Continue Reading
Analysis: China’s expanding underground gas storage may reduce LNG winter price volatility
The expansion of underground gas storage in northeast China could alleviate distribution network bottlenecks in the country’s key winter demand centers, and help stabilize seasonal demand and price fluctuations in Continue Reading
Analysis: Japan poised to halt Iran oil loadings in Aug ahead of US sanctions
Highlights Japanese refiners’ imports will slow to a trickle next month Shipping companies prepare for snap-back of sanctions in November Washington officials send mixed signals on sanctions relief Tokyo — Continue Reading
U.S. oil differentials to blow out as output gains slow: Morgan Stanley
Crude oil production growth in the largest U.S. shale field could shrink by nearly two-thirds next year because of limited pipeline capacity that will blow out already wide differentials in Continue Reading
Washington state sets high bar for electric vehicles
A policy adviser to Washington Gov. Jay Inslee said the state wants to be as prolific as low-carbon Norway when it comes to electric vehicle deployment. Charles Knutson, Inslee’s executive Continue Reading
Delta to Increase Fares, Trim Flights as Fuel Prices Rise
Delta Air Lines Inc. DAL 1.85% said it will boost fares and add fewer flights than planned as carriers contend with a surge in fuel prices amid a record stretch Continue Reading
The Downfall Of U.S. Nuclear Power
A new, shocking report by researchers at Carnegie Mellon University’s Department of Engineering and Public Policy (EPP), Harvard University, and the University of California San Diego School of Global Policy Continue Reading
California will face a terrible choice: Save cliff-side homes or public beaches from rising seas
Homes along the edge of the coast in Santa Barbara County, Calif., in 2005. (Patrick Barnard/Pacific Coastal and Marine Science Center/U.S. Geological Survey) Like an ax slowly chopping at the Continue Reading
The Permian Banks On These Key Pipelines
Booming crude oil and natural gas production in the Permian Basin and not enough pipeline takeaway capacity have widened the discounts at which oil and natural gas pumped in the Continue Reading
Renewables Overtake Coal For First Time Ever In Germany
For the first time in history, renewable power sources have overtaken coal in Germany’s energy mix, the German Association of Energy and Water Industries (BDEW) reports , saying the share Continue Reading
Norway Oil Strike Set To Worsen
Norway’s ongoing oil workers’ strike is set to shut more rigs on the Norwegian Continental Shelf as the employers’ association has not contacted the trade union for new talks yet. Continue Reading
Behind Nord Stream 2: The Russia-to-Germany gas pipeline that fueled Trump’s anger at NATO
President Donald Trump may have just made Nord Stream 2 a household name. Ahead of a NATO meeting, the president blasted the German government on Wednesday for backing the new Continue Reading
Russia’s Novak: producers will act in case of oil market deficit
MOSCOW (Reuters) – OPEC and non-OPEC oil producers will act in the event developments in Venezuela and Libya cause an oil market deficit, Russian Energy Minister Alexander Novak told reporters Continue Reading
Ireland to become first country to divest from fossil fuels
Ireland is set to become the first country in the world to divest from fossil fuels, after a bill was passed that requires its sovereign wealth fund to sell off Continue Reading
Oil rallies as IEA warns of output capacity limits
Oil prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. The rally received an extra boost from the Continue Reading
Oil Prices Crash As Libya Resumes Production
Oil prices fell sharply on Wednesday on news that Libya was suddenly set to restore hundreds of thousands of barrels per day, and the U.S. struck a softer line on Continue Reading
ICE September Brent settles $5.46 lower at $73.40/b on US, China trade war worries
Crude futures tumbled Wednesday, with concerns of an escalated trade war between the US and China outweighing a 12.6 million-barrel draw in US crude inventories. Receive daily email alerts, subscriber Continue Reading
The Downside Risk For Oil
Oil prices have spiked more than 13 percent in the past ten days, with WTI touching $75 at one point, the highest since the 2014 price crash. The factors that Continue Reading
I’m worried oil could go above $100 by 2020, says CEO of oilfield service giant Core Laboratories
The long-term climb in oil prices is concerning even top oil-service executives. With U.S. West Texas Intermediate crude at $74.11 a barrel and global supply shortages showing no signs of Continue Reading
The oil market’s shock absorbers are nearly gone
The world was awash in crude oil just two years ago. Now there’s barely enough to meet the unquenchable thirst for energy. Faced with rapidly rising prices and sanctions on Continue Reading
Nights Are Warming Faster Than Days. Here’s Why That’s Dangerous.
July kicked off with searingly hot temperatures for most Americans this year. New daily, monthly and all-time record highs were set across the country last week, with more than 100 Continue Reading
Scientists may have solved a huge riddle in Earth’s climate past. It doesn’t bode well for the future.
In 2013, a team of researchers set sail to the eastern Beaufort Sea in search of evidence for the flood near where the Mackenzie River enters the Arctic Ocean, forming Continue Reading
OPEC: Oil Demand Growth To Slow In 2019
Global oil demand growth is expected to moderate next year as the world economy is expected to grow slightly less than this year, OPEC said on Wednesday in its projections Continue Reading
World’s oil cushion could be stretched to the limit, IEA warns
The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected Continue Reading
IEA warns spare oil capacity to be ‘stretched to limit’
The International Energy Agency warned on Thursday that spare oil production capacity risks being “stretched to the limit” as supply disruptions and US sanctions against Iran tighten the market. The Continue Reading
International Energy Agency OMR
Demand got off to a strong start this year with global 1Q18 growth at over 2 mb/d, helped by cold weather in the northern hemisphere. Recent data, however, point to a slowdown, with Continue Reading
International Energy Agency OMR
Since our last report, OPEC oil ministers and ten non-OPEC oil ministers have met and agreed to achieve 100% compliance with the Vienna Agreement (i.e. they will increase production). What this means Continue Reading
OPEC June Production Data
All data below is from the OPEC Monthly Oil Market Report . All data is in thousand barrels per day and is through June 2018. The Republic of the Congo Continue Reading
Facing Threats at Home and Abroad, Iran’s President Takes a Harder Line
For much of his presidency, Hassan Rouhani has been at loggerheads with Iran’s military and conservative establishment, as he forged diplomatic ties with the West to break his country’s international Continue Reading
Vietnam data: June crude oil exports fall 68% on year, imports rise
Vietnam exported 313,503 mt (76,599 b/d) of crude oil in June, down 67.5% from a year earlier, according to preliminary customs data released Wednesday. Receive daily email alerts, subscriber notes Continue Reading
Uzbekistan gives green light to nuclear power plant project
The Uzbekistan government and Rosatom have reached an agreement to build the first nuclear power plant in the country, with commercial operations targeted to start by 2028, in an effort Continue Reading
U.S. oil exports to India soar ahead of sanctions on Iran
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year’s total as the Asian nation’s refiners move to replace Continue Reading
Oil’s Perfect Storm Lays At Trump’s Feet
It’s becoming painfully clear that the way forward for global oil markets is going to be bumpy, very bumpy, particularly as we head into next year. Much of this uncertainty, Continue Reading
The U.S. Energy Industry Can’t Afford A Trade War
As the U.S.-China trade spat turns into a full-blown war with tariffs and retaliatory tariffs and threats of further tariffs, U.S. energy exports to China may suffer if Beijing follows Continue Reading
Will The U.S. Compromise On Iran Oil Sanctions?
Some of the United States’ closest allies are scrambling to find a way around the latest sanctions of the Trump Administration against Tehran, and Washington may have to revise its Continue Reading