Egypt, Iran and Sudan will together receive two thirds of the 917,000 mt of wheat loaded from Russia’s main port of Novorossiisk onto ships that arrived between Jan. 9 and Continue Reading
Robust and persistent demand, coupled with stagnant supply, has crude off to a raging start in 2022. Oil had its biggest January gain in at least 30 years as robust Continue Reading
Oil markets opened the week higher and were heading for the biggest January gain in at least 30 years as robust demand outpaced fresh supply. The global crude benchmark rose Continue Reading
Brent hit $90 per barrel last week and plenty of banks and oil majors now believe we will see $100 oil this year. If oil does continue to climb, demand Continue Reading
With Brent oil prices having surged to around $90 per barrel, OPEC and its allies may announce a bigger-than-expected rise in output, according to Goldman Sachs Group Inc. The outcome Continue Reading
The world’s largest oil companies are ramping up drilling operations despite recent net-zero pledges WoodMac VP for exploration: The majors are still exploring and say much less about it than Continue Reading
OPEC has again failed to meet its own production targets again in January as the group lifted production only 210,000 additional barrels per day for the month. Looking at this Continue Reading
The number of confirmed coronavirus cases is increasing again in Iraq as the omicron variant spreads and vaccination rates remain low, but the new strain’s milder symptoms are relieving pressure Continue Reading
Highlights Exports fall to 3.203 mil b/d in Jan vs 3.277 mil b/d in Dec Jan production quota at 4.281 mil b/d vs 4.237 mil b/d in Dec Kirkuk exports Continue Reading
The United States and its European allies appear on the cusp of restoring the deal that limited Iran’s nuclear program, Biden administration officials said on Monday, but cautioned that it Continue Reading
China has concluded three major oil deals with Iraq, most notably finalizing the 25-year deal for the Mansuriya field which could have huge geopolitical consequences. The signing of these deals Continue Reading
Nigeria was once more unable to meet its oil production allocation by the Organisation of Petroleum Exporting Countries (OPEC) in January. The country was only able to pump 1.46 million Continue Reading
India is considering battery swapping for electric cars rather than charging stations as it seeks to spur adoption of cleaner transport in its notoriously polluted and crowded cities. “Considering the Continue Reading
Growth in India’s factory activity slowed to a four-month low in January as COVID-19 curbs hurt new orders and output, while high price pressures weighed on business confidence about the Continue Reading
The next commodity supercycle could start and end with Chinese graphite, the single most important battery material right now in terms of supply and demand. And one of the world’s Continue Reading
The COVID-19 situation at the Beijing Winter Olympics is within the “expected controllable range”, despite increasing positive cases being detected, a senior official at China’s Olympics Pandemic Prevention and Control Continue Reading
Exxon Mobil Corp. XOM 0.90% is moving its corporate headquarters from Irving, Texas, to Houston as part of a business reorganization that the company said will be completed by 2023. The reorganization will create Continue Reading
The White House on Monday announced new steps to help curb emissions of methane, saying it will send $1.15 billion to states to clean up thousands of orphaned oil and Continue Reading
Colder-than-usual weather in January and high LNG exports reduced U.S. working natural gas storage levels to below the five-year average again, after one of the warmest Decembers on record had Continue Reading
Gas stoves may find themselves the next target of climate activists after a study published by the American Chemical Society highlighted methane leaks that occurred while the stoves were not Continue Reading
Highlights Deliveries to Gulf Coast Express averaging 40 MMcf/d Double E improves processing plant interconnectivity Permian drilling, well completion, production ramp up The 1.35 Bcf/d Double E Pipeline has begun Continue Reading
Highlights Could prove bullish in short term for AECO N.D. producers continue to lower flared volumes North Dakota gas production appears poised to grow with the approval of WBI’s North Continue Reading
Tight supply and rising demand lifted weekly margins across the globe with US Atlantic Coast margins showing the impact of the massive cold front and storm which swept in over Continue Reading
A guest post by Ovi. All of the oil (C + C) production data for the US state charts comes from the EIAʼ’s Petroleum Supply monthly PSM . U.S. November Continue Reading
A waiter checks the vaccine pass of customers arriving at a restaurant in central Paris, France. Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to Continue Reading
European natural gas prices plunged after Russian shipments via a key route crossing Ukraine rebounded. Futures slumped as much as 9.1% as deliveries into Slovakia through the Velke Kapusany interconnection Continue Reading
Countries are plunging deeper into an energy crisis, but some governments are still shutting down reactors. As the Fukushima disaster unfolded in Japan in 2011, then-German Chancellor Angela Merkel made Continue Reading
One of the world’s largest LNG exporters, Qatar, wants the European Union to restrict the resale of gas cargoes outside the EU if Qatar agrees to divert emergency supply to Continue Reading
Amid ongoing tension between NATO and Russia around Ukraine, the head of the treaty organization Jens Stoltenberg has expressed concern about Europe’s dependence on Russian gas. “We are concerned about Continue Reading
Highlights Russian exports at 23.6 mil mt in MY 2021-22 through Jan. 27 Wheat export prices down $11 on the month Russia cuts wheat export tax to $93.90 mt for Continue Reading
Highlights US refiners have options if flows are disrupted: Platts Analytics Russian reliance rose after US sanctioned Venezuela’s PDVSA Russia was the No. 3 oil supplier to the US in Continue Reading
