U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil. Continue Reading
UN Secretary General: investing in fossil fuels is delusional. Anti-oil narrative clashes with reality of increasing demand. IEA has changed its narrative and is now calling for more production Last Continue Reading
The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously Continue Reading
Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 84,000 barrels per day (bpd) to a record 5.316 million Continue Reading
U.S. Shale production in the seven most prolific shale basins is set to increase 143,000 bpd in July to 8.91 million bpd, according to the Energy Information Administration’s latest Drilling Continue Reading
Global public companies representing 60% of total non-OPEC liquid fuels production spent last year $244 billion on exploration and development, down by 28% compared to the pre-pandemic average, the Energy Continue Reading
Demand for Middle East medium sour crudes, such as Oman, Upper Zakum and Al-Shaheen, continued to grow as prices for light sour grades from the region, such as Murban, turn Continue Reading
The number of total active drilling rigs in the United States rose by 6 this week, after drilling increases stalled out in the week prior, according to new data from Continue Reading
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for Continue Reading
