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Global oil consumption will continue to outstrip supply in 2022 as the economic recovery from the pandemic boosts fuel consumption, while investment in new crude production is crimped by environmental concerns, the bank said in a report. View the full article
OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022. View the full article
Oil prices recovered earlier declines as the U.S. and other consuming nations announced a landmark move to tap their strategic reserves. View the full article
From Saudi Arabia to West Texas, drillers are pumping more oil to cash in on a scorching price rally. But a region that’s home to a fifth of the world’s crude reserves is mostly missing out. View the full article
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Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces unprecedented pressure to clamp down on emissions. View the full article
EQT Corporation today announced it entered into a purchase agreement with Alta Resources Development, pursuant to which EQT will acquire all of the membership interests in Alta's upstream and midstream subsidiaries for approximately $2.925 billion, subject to customary closing adjustments. View the full article
Climate change looms large for Royal Dutch Shell Plc, BP Plc and Total SE, with investors at all three energy giants calling for greater action. Shareholder resolutions on cutting carbon emissions are set to dominate this month’s AGMs, even as the companies talk up their own, competing proposals. View the full article
For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a distinct possibility, the alarm bells really started ringing. View the full article
Iran claims it’s preserving data captured by International Atomic Energy Agency monitoring equipment, but officials won’t give investigators access to it until Iran concludes stalled talks with world powers to lift economic sanctions. View the full article
OPEC+ is focused on ensuring a steady supply of crude to global markets and isn’t targeting a specific price, Iraqi Oil Minister Ihsan Abdul Jabbar said Thursday. View the full article
Petro-Victory Energy Corp. secured 19 new oil and gas blocks in the company's core operating area, the Potiguar Basin onshore Brazil, the company announced. View the full article
The acquisition deepens Baker Hughes’ industrial asset performance management capabilities and will expand the company’s industrial asset management offerings. View the full article
Activist investor Engine No. 1 released a letter on Feb. 22 reiterating its call for Exxon to overhaul its board of directors by adding four new members who have the expertise to steer the company towards climate neutrality. View the full article
DNV, the independent energy expert and assurance provider, is working with Wintershall Noordzee and the OTH Regensburg University of Applied Sciences to explore how existing natural gas pipelines in the southern North Sea can be used for future CO2 transport. View the full article
European Union energy ministers tried to project a united front Monday in rejecting Russia’s demands to buy gas in rubles as the bloc tries to prevent Vladimir Putin from sowing divisions in the bloc. View the full article
A sustained uptick in commodity prices on the back of a recovering global economy is set to bolster a turnaround in industry fundamentals over the coming 12 to 18 months. View the full article
A trio of exciting new low-carbon technologies are set to generate 26,000 new UK energy jobs by 2030, according to research by Robert Gordon University. View the full article
The Martin Linge field is powered from shore, resulting in low CO2 emissions, and operated from its onshore control room. Expected recoverable resources are approximately 260 million barrels of oil equivalent. View the full article
California is asking the federal government to declare an “electric reliability emergency” so the Golden State can lean more heavily on fossil fuels to avoid blackouts. View the full article
Europe is bracing for a tough winter as an energy crisis that’s been years in the making leaves the continent relying on the vagaries of the weather. View the full article
Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, people familiar with the matter said. View the full article
Traders are optimistic about the prospects for a bullish summer as consumption snaps back with travel re-opening. As a result, much of Wall Street is calling for higher prices in the coming months, with Goldman Sachs Group Inc. talking up the prospects of $80 a barrel. View the full article
Senate Democrats are developing a carbon-tax proposal that could potentially be used to offset some of the costs of a sweeping social-spending bill as well as direct cash payments to households, according to a key lawmaker. View the full article
The biggest provider of oil and gas rigs to the U.S. shale patch is pushing a new pricing model as speedier drilling cuts into contractors’ revenue. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.