OPEC: Review of Global Oil Demand Trends
In 2025, oil demand grew by a solid 1.4 mb/d. This was driven mostly by strong economic activities in non-OECD countries and regions, primarily China and Other Asia. In 2026, global oil demand growth...
View ArticleCrude oil forecast: Why Brent could reach $120 as IRGC shipping attacks persist
Crude oil prices continued the upward trend, reaching its highest level since May 20 as the crisis in the Middle East gained momentum. Brent, the global benchmark, rose to $110, while West Texas...
View ArticleSupply jitters keep Brent on the boil
The front-month ICE Brent contract has jumped $3.27/bbl higher on the day from Friday, to trade at $108.51/bbl at 09.00 GMT. Upward pressure: Growing concerns over escalating conflicts in the Middle...
View ArticleUS rig count holds steady
The total number of rigs drilling for crude oil and natural gas in the US remained unchanged at 603 in the week ending 16 October, according to Baker Hughes. The number of oil rigs fell by three to...
View ArticleOil prices dip as Trump waives Russia sanctions
Oil prices clawed back some earlier losses on Monday, as markets assessed the outlook for global supplies after U.S. President Donald Trump signed an order waiving most sanctions and tariffs on Russia....
View ArticleOil prices slide 2% as Trump waives Russia sanctions
Oil prices fell sharply on Monday as markets positioned for improving supplies after U.S. President Donald Trump signed an order waiving most sanctions and tariffs on Russia. Crude fell after surging...
View ArticleGlobal Energy Scenarios 2026: Pathways to resilience
Rystad Energy’s fifth edition of its flagship annual report, Global Energy Scenarios (GES) 2026, finds that global reliance on imported energy is projected to peak by 2034 as energy security concerns...
View ArticleTrump likely to waive new Russian oil sanctions due today: analysts
US President Donald Trump’s administration is likely to defer implementation or issue waivers of new sanctions and tariffs on buyers of Russian oil that are legally due Oct. 18, in part because the...
View ArticleUS to NWE reopens, eyes fixed on new supply
A week after a rebound in HOGO closed off arbs into Europe, USGC to NWE economics have reopened as NWE cash diffs firmed and cheaper MR freight supports economics in the Atlantic basin. Meanwhile, East...
View ArticleNorthwest European sour crude outlook constructive amid wide sulfur spread
European crude oil traders foresee strengthening differentials in the North Sea sour crude complex amid a wide sweet and sour crude spread. Platts, part of S&P Global Energy, assessed the Dated...
View ArticleUS fuel production rises in October so far
The US has produced 3% more fuel oil per day on average in October thus far compared to September, according to the Energy Information Administration (EIA). Changes in monthly US residual fuel oil from...
View ArticleOil prices hold firm despite Persian Gulf supply growing
Persian Gulf oil flows pick-up There are few signs of de-escalation in the Middle East. If anything, it appears as though the conflict is broadening, with the Houthis in Yemen increasingly targeting...
View ArticleIEA accelerates oil stock release, plans over 20 mil barrels of diesel
International Energy Agency members will accelerate the release of emergency oil stocks, including more than 20 million barrels of diesel, as tight supplies continue to strain global fuel markets. The...
View ArticleCrude oil inventories show significant decline, surpassing expectations
The Energy Information Administration (EIA) released its latest data on crude oil inventories, revealing a substantial decrease in the number of barrels held by U.S. firms. The actual inventory change...
View ArticleEU leaders demand joint action to tackle soaring energy prices
EU leaders are pressing Brussels for coordinated measures to ease soaring energy costs, bolster fuel supplies and support struggling industries, as the crisis strains national budgets and tests the...
View ArticleIraq transfers 4 Kirkuk oilfields to BP-linked operator, targets 450,000 bpd...
Iraq has transferred operational management of four oilfields in Kirkuk province of northern Iraq to a joint operating entity with British energy major BP, as part of plans to increase crude production...
View ArticleOil prices on track for weekly gain amid Middle East supply worries
Oil prices fell on Friday, but stayed on pace for a weekly gain, as concerns swirled around Middle East supply flows and a bigger-than-expected draw from U.S. inventories. Benchmark slid by 0.6% to...
View ArticleThe Commodities Feed: Oil holds firm as Middle East breakthrough remains elusive
Energy – IEA member to release remaining oil Oil remains well-supported. A pattern has set in: prices slide early in the session, then claw back most of those losses by the close. As a result, ICE...
View ArticleGuyana’s Uaru Gold crude to debut as fourth medium-sweet grade
Guyana’s Uaru Gold crude, expected to hit the market in December, will be another medium-sweet grade with a quality most similar to that of Guyana’s flagship Liza crude. Uaru Gold will have an API of...
View ArticleAsian refiners face margin squeeze from record tanker costs
The cost of shipping oil in supertankers has reached record highs, putting pressure on profit margins for Asian oil refiners who rely heavily on Middle Eastern crude, the International Energy Agency...
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