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US oil production starts to respond to higher prices

“No plan survives first contact with the enemy.” That military maxim, adapted from the writings of the Prussian general Helmuth von Moltke the Elder, could be usefully applied to a lot of the thinking...

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IEA to complete release of 100M barrels

In yesterday’s meeting, the IEA Governing Board reiterated its commitment to international energy security. The IEA Governing Board noted the IEA Secretariat’s most recent assessments, which point to...

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Completing electrification project at Troll

The partial electrification of Troll B and Troll C has reduced emissions by around 330,000 tonnes of CO₂ per year. The Troll field continues to deliver high and stable production of oil and gas to...

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Iran-backed Houthis strike Saudi oil company Aramco’s headquarters, officials...

Iran-backed Houthi rebels hit the headquarters of the Saudi state-owned oil company Aramco in an overnight strike, two regional officials said Wednesday, damaging the offices of the firm’s chief...

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Oil prices sink on report of easing U.S. sanctions; IEA release plans in focus

Oil prices fell sharply on Thursday after a report showed the U.S. considering easing sanctions on oil shadow fleets. Focus was also on an upcoming meeting of the International Energy Agency on...

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Global gas demand will not peak before 2035, says GlobalData

Global natural gas demand will keep growing through 2035 in every scenario, rising by almost a fifth as power generation absorbs half of the increase. The LNG glut the market expected for 2026 will...

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Crude Oil Inventories Plunge, Surpassing Expectations

The American Petroleum Institute (API) has reported a significant drop in U.S. crude oil inventories, marking a notable event in the energy sector. The latest data reveals that crude stocks have...

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EU faces gas shortfall of up to 15% if severe winter hits, report warns

The EU is entering the winter season on thin ice, facing a double-edged geopolitical squeeze that threatens to expose the fragility of its post-Russian energy architecture. Europe could face a gas...

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Saudi Arabia to boost pipeline crude export capacity to 10m bpd

Saudi Arabia plans to expand its pipeline crude export capacity to as much as 10 million barrels per day through repurposing a domestic gas pipeline and investing in its existing East-West network,...

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US Natgas Prices Rise Ahead of Storage Report

US natural gas futures rose to around $3.25 per million British thermal units on Thursday, moving back near a three-week high as market attention turned to the EIA’s weekly storage report due later in...

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Escalation of attacks threatens to derail recovery in Middle East oil exports

World oil demand is forecast to fall by 2.5 mb/d y-o-y in 4Q26 and 2.6 mb/d on average in 2026. As the Iran war manifests itself through restricted product availability, soaring fuel prices and a...

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KazMunayGas seeks consortium to develop deep Caspian oil reserves

KazMunayGas is assembling a multinational consortium including Shell, Chevron, Sinopec and CNOOC to explore ultra-deep formations in Kazakhstan’s Caspian region, opening a new frontier in one of the...

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Brent crude choppy as Hormuz strikes, Houthi attacks spur supply uncertainty

Oil prices were volatile on Wednesday, as ships were once again targeted in the Strait of Hormuz and renewed fighting between Saudi Arabia and Yemen’s Houthis spurred more concerns over supply...

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Oil unbothered by Russia-Ukraine energy ceasefire

Brent crude has shown little reaction after US President Donald Trump announced an energy ceasefire between Russia and Ukraine, whose conflict has dragged on for more than four years. Moscow and Kyiv...

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Saudi Arabia eyes Egypt for oil storage

Saudi Arabia is considering storing crude oil and petroleum products in Egypt to ensure maximum export capacity during crises after its global oil supplies were hit by Iran’s closure of Hormuz Strait...

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Trump says ‘massive’ oil, gas, and mineral exploration to begin in Greenland

U.S. President Donald Trump said on Tuesday evening that “massive” oil, gas, and mineral exploration was set to begin in Greenland, while also touting the island’s importance for national security....

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India seeks to attract upstream capital with offshore reforms, deepwater...

India has opened a large swath of previously inaccessible offshore basins as it seeks to attract investment in exploration and production, combining new acreage with economic incentives and support...

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Oil prices rise as Houthi attacks, Hormuz strikes spur supply uncertainty

Oil prices rose on Wednesday as renewed fighting between Saudi Arabia and Yemen’s Houthis spurred more concerns over supply disruptions in the Middle East. Renewed attacks on shipping through the...

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Saudi Arabia Crude Oil Production Recovers in September

Saudi Arabia’s crude oil production rebounded by 2.134 million barrels per day in September 2026, reaching 8.372 million barrels per day after falling to its lowest level in more than three decades....

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EIA raises oil price forecasts for 2027

The US Energy Information Administration (EIA) expects the Brent crude spot price to average $105/bbl in the fourth quarter of 2026 before declining to around $84/bbl in 2027. The EIA forecasts Brent...

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