Surge of New Permian Basin Oil to Feed Global Supply
Exports of the Permian Basin’s newest kind of oil are set to jump as production surges, exceeding the appetite of U.S. refiners. Sales of the new grade, known as West Continue Reading
Midwest Flooding Exposes Another Oil Pipeline Risk — on Keystone XL’s Route
Standing on the banks of the Keya Paha River where it cuts through his farm, Bob Allpress points across a flat expanse of sand to where a critical shut-off valve Continue Reading
Exclusive: Kazakhstan to seek damages from Transneft for tainted oil loaded in Ust-Luga
Kazakh oil flowing via Russia to be loaded on tankers at the Baltic Sea port of Ust-Luga has been contaminated and Kazakhstan plans to seek compensation from Russian pipeline monopoly Continue Reading
Total Declares Force Majeure On German Refinery After Russian Oil Contamination
France’s Total has halted some of the units at its 230,000-bpd Leuna refinery in Germany to conduct technical checks after contaminated Russian crude oil was found to have flown via Continue Reading
Russia Finally Brings Oil Production Below OPEC+ Cap
A month before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in Continue Reading
Crude oil futures rise on geopolitical tensions, looks to OPEC meet
Crude oil futures were higher during mid-morning trade in Asia Friday amid ongoing supply-side uncertainties and geopolitical tensions, with market participants also looking out for headlines emerging from the OPEC/non-OPEC Continue Reading
Oil steady as Middle East tensions mounts, set for weekly gains
Oil prices were steady on Friday, giving up earlier gains, and were on track for the first weekly increases this month, as rising tensions in the Middle East stoked fears Continue Reading
Oil prices rise more than 1% as Middle East conflict persists
Oil futures were up more than 1% on Thursday as tensions in the Middle East grew, with a Saudi-led coalition launching air strikes in retaliation for recent attacks on its Continue Reading
No, The Oil Glut Hasn’t Disappeared
Global oil demand may be a bit lower this year than previously thought, weighed down by weaker consumption rates in emerging markets. The International Energy Agency lowered its demand growth projection Continue Reading
BloombergNEF: electrics to take 57% of global passenger car sales, 81% of municipal bus sales by 2040
BloombergNEF (BNEF) is out with an aggressive forecast that projects electric vehicles taking up 57% of the global passenger car sales by 2040—slightly higher than it forecast a year ago—and Continue Reading