Forecast Highlights Global liquid fuels The April Short-Term Energy Outlook (STEO) is subject to heightened levels of uncertainty resulting from a variety of factors, including Russia’s further invasion of Ukraine. This STEO Continue Reading
The full impact of sanctions and buyer aversion to Russian oil will take full effect from May onwards, the International Energy Agency said on Wednesday. Still, lower demand amid a Continue Reading
For the first time since July 2020, Russia’s crude oil production has slipped below the 10 million bpd mark on Monday, two anonymous Reuters sources suggested. The decline in Russia’s Continue Reading
Offshore projects cost billions and rarely come online in less than a decade. Questioned by U.S. lawmakers this week, chief executives from the nation’s biggest oil companies took great pains Continue Reading
China and India are emerging as Russia’s main crude buyers. Russia’s ESPO blend is especially popular among Asian refiners. Russia’s Urals crude is trading at discounts of more than $30 Continue Reading
U.S. energy firms last week added oil and natural gas rigs for a third week in a row as the federal government seeks more production to help its allies wean Continue Reading
The number of total active drilling rigs in the United States rose by 16 this week. The total rig count increased to 689 this week—257 rigs higher than the rig Continue Reading
Crude oil production by OPEC and its allies fell in March from February for the first time in more than a year, the latest S&P Global Commodity Insights survey found, Continue Reading
Surging prices and the EU’s goals of becoming less dependent on Russia will catapult global energy spending this year to $2.1 trillion. Surging oil, gas, and power prices together with Continue Reading
International Energy Agency member countries have agreed to release 120 million barrels of oil from storage, which includes 60 million barrels from the US, as part of its overall draw Continue Reading
