(Reuters) – Crude oil production from Alaska is forecast to reach 477,000 barrels per day (bpd) in 2026, the highest since 2018, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook on Wednesday. The EIA said Alaska oil production is expected to rise 13%, or 55,000 bpd, marking the largest annual … Read more

(Reuters) – Saudi and U.S. officials on Wednesday touted billions in new investments and growing financial ties between the two countries coinciding with Saudi Arabian Crown Prince Mohammed bin Salman’s visit to Washington. The CEOs from Chevron, Qualcomm, Cisco, General Dynamics and Pfizer are attending the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, … Read more

Saudi Arabia will sign energy sector agreements with the U.S. worth $30 billion, the CEO of Saudi state oil giant Aramco, Amin Nasser, said on Wednesday in comments carried by Saudi state TV. His comments came during the U.S.-Saudi investment forum, being held in Washington. Reporting by Yomna Ehab; and Elwely Elwelly; wriitng by Muhammad … Read more

By EnergyNow Staff Western Canada Select (WCS) and West Texas Intermediate (WTI) are both crude oil benchmarks, but they differ in quality, location, and market dynamics — which is why WCS typically trades at a discount to WTI. 1. What They Are WTI (West Texas Intermediate) A light, sweet crude oil (low density, low sulfur). … Read more

Widening gap between forecasts from IEA, OPEC and EIA clouds oil market outlook By Ryohtaroh Satoh and Malcolm Moore Original: financialpost.com/financial-times/barrel-divide-iea-opec-at-odds-oil-demand The widest gap for more than two decades has opened up between the forecasts of the three main international organisations that track the world’s crude markets, causing confusion about global oil demand. The Paris-based … Read more

Summary US Treasury says sanctions are squeezing Mscow’s revenue Russian oil loadings at Novorossiysk resume after Ukraine attack Oil prices to fall next year, says Goldman Sachs (Reuters) – Oil prices steadied on Tuesday, regaining ground after early losses, as traders weighed the impact of Western sanctions on Russian oil flows against an expected supply … Read more

Summary Russia’s Novorossiysk port has resumed oil loadings US plans sanctions on nations doing business with Russia Speculators increase ICE Brent net longs on supply risks (Reuters) – Oil prices dipped slightly on Monday as loadings resumed at Russia’s Novorossiysk export hub after a two-day suspension at the Black Sea port that had been hit … Read more

(Reuters) – U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday. The Department of Energy’s statistical arm expects U.S. oil output to average 13.6 million barrels per day … Read more

(Reuters) – Oil prices fell 1% on Wednesday, weighed down by oversupply in the market despite expectations that an end to the longest-ever U.S. government shutdown could boost oil demand. Brent crude futures slipped 66 cents, or 1%, to $64.50 a barrel by 1232 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was down … Read more

(Reuters) – Oil prices rose on Tuesday due to the impact of the latest U.S. sanctions on Russian oil, although oversupply concerns limited gains. Brent crude futures were up 67 cents, or 1.1%, to $64.73 a barrel at 1333 GMT. U.S. West Texas Intermediate crude was at $60.78 a barrel, up 65 cents, or 1.1%. … Read more

Summary Chevron to provide guidance through end of this decade Oil firm has opportunities for growth after Hess Investors eye updates on Kazakhstan talks and new power ventures Reuters) – When Chevron  executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear … Read more

The Trump administration will hold an auction for drilling oil and gas off the U.S. Gulf next month and has proposed another in a waterway in southern Alaska, it said on Friday. The lease sale in the U.S. Gulf of Mexico, which President Donald Trump refers to as the Gulf of America, will make about … Read more

Summary US Senate advances bill to end federal shutdown Flight delays, cancellations in the US accelerate Oversupply concerns persist as crude inventories rise LONDON, Nov 10 (Reuters) – Oil prices were steady on Monday as investors assessed a potential end to the U.S. government shutdown and concerns around oversupply in the crude market. Brent crude … Read more

By Alastair Marsh Offshore oil and gas platforms. Photographer: Tim Rue/Bloomberg HSBC Holdings Plc is expecting oil and gas deals to make up a smaller part of its energy portfolio, as renewables look to be the preferred way to feed data centers powering artificial intelligence. Finance for fossil fuels will likely rise in absolute terms, … Read more

Summary U.S. crude stocks rose more than expected last week Private reports suggest U.S. labour market weakened in October Gunvor withdraws proposal to buy Lukoil’s overseas assets (Reuters) – Oil prices rose on Friday but remained on track for a second consecutive weekly loss after three days of declines on worries about excess supply and … Read more

(Reuters) – Oil prices regained a little ground on Thursday, buoyed by easing concerns over a potential supply glut as sanctions on Russian companies begin to bite. Having closed the previous session at two-week lows, Brent crude futures gained 35 cents, or 0.6%, to $63.87 a barrel by 1120 GMT while U.S. West Texas Intermediate … Read more

(Reuters) – U.S. field production of crude oil rose to a record high for a second week in a row last week, the U.S. Energy Information Administration (EIA) said in its weekly Petroleum Status Report on Wednesday. EIA said output reached 13.651 million barrels per day (bpd) during the week ended October 31, topping the … Read more

 Activist investor Kimmeridge on Tuesday called on Coterra Energy to overhaul its leadership and strategy, saying the 2021 merger of Cabot Oil & Gas and Cimarex Energy has failed to deliver value and left it trading at a discount to its peers. In an open letter, the private investment firm urged the board to appoint … Read more

Summary Weaker data in the US, China fuel demand concerns Russia suspends fuel exports at Black Sea refinery US dollar index holds at three-month high (Reuters) – Oil prices were steady on Wednesday as investors digested weaker economic data from top oil importers while U.S. inventory data provided some support. Brent crude futures were down … Read more

Top Western oil companies are enjoying a windfall from the expanding attacks on Russia’s oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut.Waves of Ukrainian drone strikes on Russia’s vast network of refineries and export terminals since July have hammered the … Read more

(Reuters) – Oil prices fell over 1% on Tuesday as OPEC+’s decision to pause output hikes in the first quarter next year along with weak manufacturing data and a stronger dollar weighed on the market. Brent crude futures fell 90 cents, or 1.4%, to $63.99 a barrel by 1056 GMT. U.S. West Texas Intermediate crude … Read more