Pump Jacks extract crude oil in Midland, Texas. Photographer: Angus Mordant/Bloomberg The US is on track to grow oil production faster than the government is forecasting, according to a BloombergNEF Continue Reading
A vessel leaves the Orlan oil plattform at Sakhalin-1’s off-shore rig at the Chaivo field, some 11 km (7 miles) off the east cost of Sakhalin island October 10, 2006. Continue Reading
BP Plc (BP.L) and Chevron Corp (CVX.N) on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as Hurricane Ian bore down on the Continue Reading
U.S. exports of petroleum products jumped by 11% to a record 6 million barrels per day (bpd) in the first half of 2022, with exports growing at their fastest pace Continue Reading
Global oil flows are changing ahead of the coming embargo on Russian oil, with a growing amount of Russian crude heading east. Meanwhile, the amount of fuel and oil flowing Continue Reading
The number of total active drilling rigs in the United States rose by 1 this week, according to new data from Baker Hughes published on Friday. The total rig count Continue Reading
The Strategic Petroleum Reserve, which was established in 1975 as a reaction to the 1973 oil embargo, is now at its lowest level since December 1984. Ultimately, the SPR is Continue Reading
Moody’s: energy sector remains a strong performer in 2023, but earnings won’t be as good as in 2022. Moody’s: Energy prices are expected to remain cyclically strong through 2023. Moody’s Continue Reading
The CEO of JP Morgan, Jamie Dimon, said that banks refusing to fund new oil and gas projects would be “the road to hell for America”. An unnamed senior executive Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 1.035 million barrels, while analysts predicted a bigger build of 2.321 million barrels. The build comes Continue Reading
