OPEC+ to discuss Kazakhstan output at Thursday’s meeting, sources say
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up...
View ArticleU.S. natural gas consumption set new winter and summer monthly records in 2024
In 2024, U.S. natural gas consumption averaged a record 90.3 billion cubic feet per day (Bcf/d) and set new winter and summer monthly records in January and July, according to data in our Natural Gas...
View ArticleUS oil producers face new challenges as top oilfield flags
U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output. The...
View ArticleOil, copper slide as Trump tariffs rattle markets; gold hits record high
Commodities including oil, copper and agricultural products fell on Thursday as U.S. President Donald Trump’s aggressive tariffs on key trading partners fuelled fears of a global recession, while...
View ArticleMiddle East Crude-Benchmarks extend gains to one-month high over supply fears
Middle East crude benchmark spot premiums of Oman, Dubai and Murban rose for a second session on Thursday, hitting a more than one-month high as Russia tightened restrictions on Black Sea oil export...
View ArticleOil and gas got off easy on Trump’s Liberation Day
President Donald Trump’s reveal of sweeping import tariffs further darkened the outlook for the global economy and left many questions unanswered. But amid all the policy fog, oil and gas traders can...
View ArticleOPEC+ speeds up oil output hikes, oil drops
Eight OPEC+ countries agreed on Thursday to advance their plan for oil output hikes by increasing oil output by 411,000 barrels per day in May, an unexpected decision that prompted oil prices to extend...
View ArticleRussia’s oil and gas revenue down 17% y/y in March
Russia’s oil and gas revenue declined by 17% in March to 1.1 trillion roubles ($13 billion) from the same month a year ago, finance ministry data showed on Thursday. In the first quarter, the revenue...
View ArticleCaspian oil pipeline consortium readies for court battle in Russia over...
The Western-backed Caspian Pipeline Consortium is preparing to challenge in a Russian court a regulatory order that has crippled its exporting capabilities and threatened to cut oil flows to global...
View ArticleFuel switching, renewables cause sharp decline in US power sector gas demand...
Fuel switching contributed to lower US power sector gas demand during March, a trend that, based on current natural gas prices, could continue this summer. Power sector gas demand averaged 27.8 Bcf/d...
View ArticleUBS cuts oil price forecasts for 2025-27 on OPEC+ unwind
Following the recent decision by OPEC+ to boost oil production earlier than expected, UBS has revised its price projections for the years 2025 to 2027. The investment bank has cut its forecast for 2025...
View ArticleThe Commodities Feed: OPEC+ shocks with supply increase
Energy – OPEC+ shock supply increase Oil prices took a big hit yesterday as a barrage of new tariffs raised concerns over global growth and the outlook for oil demand. ICE Brent settled more than 6.4%...
View ArticleOil prices head for lowest close since depths of pandemic on trade war
Oil prices were heading on Friday towards their lowest close since the midst of the coronavirus pandemic in 2021, hit by U.S. President Donald Trump’s barrage of new tariffs and output increases...
View ArticleMiddle East Crude-Benchmarks decline, post weekly gains on supply headwinds
Middle East crude benchmark spot premiums of Oman, Dubai and Murban declined on Friday after a two-day rally, but recorded a weekly gain because of supply concerns. Russia, the world’s second-largest...
View ArticleDubai crude futures traded volume on TOCOM rebounds in March from record low
The volume of Dubai crude oil futures contracts traded on the Tokyo Commodity Exchange rose 3.95% month over month to 92,781 lots in March, the latest TOCOM data showed, plunging to a record low since...
View ArticleOil majors suffering from OPEC+ output hike, not from U.S. tariffs, Eni exec...
Oil majors are suffering after eight OPEC+ countries unexpectedly agreed to increase oil output in May, while tariffs imposed by U.S. administration had a muted effect on the sector, Eni’s ENI top...
View ArticleEconomic impacts of US tariffs could give Trump room on oil sanctions: analysts
US President Donald Trump’s sweeping new tariffs could give the US more room to apply pressure to countries like Iran, Russia and Venezuela, but they could also hurt the likelihood that other countries...
View ArticleFossil fuels generate less than half of US electricity for first month ever,...
Fossil fuels accounted for less than 50% of the U.S. power mix for the first month on record in March, according to energy think tank Ember on Friday, driven by a near-quarter rise in wind and solar...
View ArticlePromising new technologies face market uncertainty in pivotal moment for...
The range of new energy technologies under development globally is broader and appears more promising than ever before, yet the global energy innovation landscape is at a pivotal moment amid signs of...
View ArticleGoldman cuts oil price forecasts amid tariff fears, higher OPEC+ supply
Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war...
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