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German Chancellor Olaf Scholz, under pressure from the U.S. to halt the Nord Stream 2 pipeline project over Russian aggression toward Ukraine, may quietly delegate the task to the country’s bureaucracy. View the full article
OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains limited. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. View the full article
Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. View the full article
Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. View the full article
Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister. View the full article
It’s been almost three weeks since the U.S. unveiled an internationally coordinated release of oil from national reserves, but so far there’s been little follow through from the other five nations. View the full article
The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported. View the full article
Oil driller Hilcorp Energy Co. is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production goals. View the full article
Oil set its biggest weekly gain in more than three months as the worst fears over the new virus strain have receded. View the full article
The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp. View the full article
Pemex is said to be planning to trim its crude oil exports next year as it cranks up domestic fuelmaking to supply an economy bouncing back from the pandemic. View the full article
Canada’s oil production could continue to rise for the next decade and then begin declining as countries strive to reduce carbon emissions, the Canada Energy Regulator said Thursday. View the full article
The U.S. shouldn’t ban the export of crude oil, a bipartisan group of House lawmakers said in a letter to President Joe Biden. View the full article
The 23rd World Petroleum Congress program concluded strongly Wednesday, with high-level discussions on collaboration within the industry and the changes needed going forward, as well as special events including a discussion of Houston’s role in leading the energy transition. View the full article
Seeq Corporation, a provider of manufacturing and IIoT advanced analytics software, has reached an agreement with Saudi Aramco to further expand its operational analytics strategy as part of the company’s ongoing Digital Transformation program. View the full article
Chevron has signed an agreement with the government of Equatorial Guinea for Block EG09, located in the Douala basin on the border of Cameroon. View the full article
U.S. companies with contracts to buy only renewable power are still relying heavily on fossil fuels because of a lack of clean-energy supplies, a Columbia University study has shown. View the full article
Technip Energies has been awarded a contract by the Abu Dhabi National Oil Company (ADNOC) to update the FEED for the Ghasha mega project including accelerating the integration of carbon capture into the development. View the full article
Crude inventories at the nation’s biggest storage hub have recovered above a key threshold, easing some fears of a future supply shock. View the full article
The Biden administration’s efforts to lower energy costs may have gotten unexpected help from the latest coronavirus variant. View the full article
Enbridge Inc. is evaluating two tolling options for its vast Mainline oil pipeline network after a proposal to offer long-term contracts to keep the conduits full was rejected by Canada’s energy regulator. View the full article
A day after Halliburton Co. warned of an imminent oil shortage, larger oilfield rival Baker Hughes Co. offered a sunnier outlook. 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.
