Energy

Oil prices extended losses on Friday, heading for their worst weekly decline in months, as U.S. President Donald Trump’s sweeping tariffs and OPEC+’s accelerated production increases deepened concerns over a global economic slowdown and oversupply. Price Movements (as of 0157 GMT): Brent Crude (LCOc1): Fell 0.4% to $69.83/barrel, on track for its steepest weekly drop […]

OPEC+ ministers will convene virtually on Thursday and are expected to greenlight a 135,000 barrel-per-day (bpd) production increase for May, continuing their phased plan to unwind pandemic-era supply cuts, according to sources within the group. The move marks the second consecutive monthly output hike under a strategy to gradually restore 5.85 million bpd of halted […]

Russia has ordered the closure of two moorings at the Caspian Pipeline Consortium (CPC) terminal, a critical hub for Kazakhstan’s oil exports operated by U.S. giants Chevron and ExxonMobil, escalating tensions over Kazakhstan’s repeated breaches of OPEC+ production quotas. The move could slash CPC’s export capacity by over 50% if prolonged, risking disruptions to 1% […]

Oil prices jumped 3% to a five-week peak on Monday as escalating geopolitical risks fueled supply fears, with U.S. President Donald Trump threatening 25–50% tariffs on Russian oil buyers and military action against Iran. Brent crude settled at74.74/barrel. Key Drivers: Russia Sanctions Risk: Trump warned of secondary tariffs on nations purchasing Russian oil if Moscow […]

India is considering eliminating its 2.5% import tax on U.S. liquefied natural gas (LNG) to boost purchases and reduce its45.4 billion trade surplus with the U.S., a key priority for President Donald Trump, according to government and industry sources. The move aligns with Prime Minister Narendra Modi’s pledge during his June U.S. visit to increase […]

Efforts to restart Iraqi Kurdish oil exports via the Iraq-Turkey pipeline have stalled due to unresolved payment terms and contract disputes, two sources close to negotiations told Reuters. Talks, ongoing since late February, aim to resolve a two-year standoff that halted 400,000+ barrels per day (bpd) of Kurdish oil flows to Turkey’s Ceyhan port. Key […]

Global energy trader Vitol is exploring a potential $3 billion sale of its U.S. shale subsidiary VTX Energy Partners, capitalizing on a wave of consolidation in the Permian Basin that has left few large privately-held operators intact. The move comes as public oil giants aggressively acquire private rivals to scale operations in the world’s top […]

The Permian Basin, the cornerstone of the U.S. shale boom, is approaching peak oil production as aging wells yield rising volumes of water and gas alongside declining crude output. Despite record production of 6.5 million barrels per day (bpd), geological constraints and escalating costs threaten long-term growth, with industry leaders predicting a plateau by 2027–2030. […]

U.S. oil and gas activity saw a modest rise in Q1 2025, but sector executives voiced deepening pessimism over Trump administration tariffs and conflicting energy policies, according to a Dallas Federal Reserve survey released Wednesday. While 130 energy firms reported increased production, concerns over rising costs and policy instability overshadowed gains, with the company outlook […]

U.S. crude stockpiles fell sharply last week, dropping 3.3 million barrels amid surging refinery activity, while weaker-than-expected fuel demand tempered bullish momentum in oil markets, according to the Energy Information Administration (EIA). Key Data Points (Week Ending March 21): Crude Inventories: Fell to 433.6M barrels, far exceeding the 956,000-barrel draw analysts forecast. Refinery Activity: Utilization […]