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Rollout of coronavirus vaccines and improvement in ties between the United States and China are likely to improve demand for oil, Energy Minister Suhail Al-Mazrouei told Sky News Arabia. “Recovery will be gradual, and won’t happen in a quarter or two,” he said. View the full article
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later. View the full article
The International Energy Agency has a bold interpretation for what must be done to avert a climate crisis – and its measures stand in stark contrast to current economic and technological realities. View the full article
The Biden administration is poised to issue new cybersecurity regulations for pipelines and liquefied natural gas facilities in the aftermath of the April hack that temporarily paralyzed the nation’s biggest liquid fuel conduit. View the full article
There’s “no immediate concern” about fuel supplies running short for consumers in the UK, Conservative MP Alok Sharma said Sunday. View the full article
Oil pared gains after OPEC+ decided to maintain its current pace of supply increases despite President Joe Biden’s calls for more output, prompting speculation that the U.S. may tap its strategic reserves. View the full article
Russia failed to boost oil output last month despite a generous ramp-up quota in its OPEC+ agreement, indicating the country has deployed all of its current available production capacity. View the full article
Iranian forces seized two Greek oil tankers in the Persian Gulf in apparent retaliation for the detention of vessel off the coast of Greece. View the full article
Nickel Road Operating LLC announced it divested a portion of its assets in the Denver-Julesberg Basin to Bayswater Exploration and Production. View the full article
It’s the biggest reduction by the Organization of Petroleum Exporting Countries and its allies since 2020, but will have a smaller impact on global supply than the headline number suggests. Several member countries are already pumping well below their quotas. View the full article
The sales would be part of a broader strategy of disposing of €8 billion in assets over the next three years. Units that could be candidates for the asset sale plan include some operations in Indonesia and Cyprus, said the people, asking not to be named discussing confidential deliberations. View the full article
Output from the Organization of Petroleum Exporting Countries slumped by 480,000 bpd in September, according to a Bloomberg survey. Libyan production plunged by 38% after one of its rival governments halted exports in a fight for control of the central bank. View the full article
With the Paris Agreement's decarbonization plans suddenly not ambitious enough for the West, key Middle East producers see an opportunity, and are putting serious money down to cover their bets. View the full article
Chief executives of some of the largest U.S. oil companies promised to collaborate with the Biden administration in its campaign against climate change during a meeting Monday with White House National Climate Adviser Gina McCarthy. 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
Petrofac has collaborated with asset management specialist James Fisher Asset Information Services to eliminate the need for offshore surveys ahead of modification scopes, reducing time and cost. View the full article
With Canadians set to vote Monday in a highly competitive election, the outlook for the two largest sectors in country’s stock index hangs in the balance. View the full article
Halliburton Company released DS365.ai cloud service to help customers accelerate their digital transformation with intelligent automation. View the full article
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. View the full article
The Group of Seven urged OPEC to pump more oil, even as it made new pledges to try to fight climate change. View the full article
As the U.S. experiences two straight quarters of negative GDP growth, which meets the common definition of recession, Railroad Commission of Texas Chairman Wayne Christian said high taxes, unnecessary regulations, and irresponsible deficit spending is what caused the mess we are in. View the full article
The project is expected to achieve a peak production of approximately 18,100 boed day in 2026, and the oil property is light crude. It is the first oil field in the South China Sea supplied with onshore power. View the full article
The recent Central Atlantic wind lease sale has generated nearly $93 million for two lease blocks. This sale, covering areas off Maryland, Delaware, and Virginia, demonstrates significant growth in the U.S. offshore wind sector. View the full article
Oilfield-service costs for U.S. shale drillers are expected to rebound in 2025, clawing back some of this year’s drop, as explorers expand the hunt for natural gas and extend sideways wells, according to industry consultant Enverus. View the full article
Saudi Aramco has hired Moelis and Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramco’s pipelines. 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.
