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Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. View the full article
Banks are gradually offering more credit to U.S. shale oil and natural gas producers as the industry recovers from last year’s contraction and energy prices rally. View the full article
OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike. View the full article
Syncrude Canada Ltd., a light crude producer majority-owned by Suncor Energy Inc., cut September supplies due to a mechanical disruption at its oil sands site, according to a person familiar with the situation. View the full article
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person. View the full article
The 30-minute fire at LyondellBasell Industries NV’s Houston refinery Tuesday underscored just how quickly U.S. gasoline production can fall at a time when the country is experiencing record-high prices at the pump. View the full article
Through the agreement, Longboat farmed-in to two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf targeting combined gross unrisked mean prospective resources of 223 mmboe1. View the full article
Oil settled at the highest level in nearly a month after U.S. crude stockpiles decreased and economic data pushed equities higher. View the full article
Citigroup Inc. more than doubled its Asian and European natural gas forecasts for next quarter and said prices could surge to as high as $100 per million British thermal units in the event of a particularly cold winter. View the full article
The American Petroleum Institute (API) has named Stephen Comstock as Vice President and Senior Counselor for Policy, Economics and Regulatory Affairs, and promoted Dr. Aaron Padilla to Vice President of Corporate Policy. View the full article
The United Arab Emirates will accelerate $20 billion of natural-gas projects by awarding contracts for some of them in the coming days, as it seeks to boost exports of the fuel. View the full article
Denbury Inc., an independent oil company based in Plano, Texas, has been exploring options including a sale, according to people with knowledge of the matter. View the full article
The Biden administration plans to ease sanctions on Venezuelan oil in a bid to bring more of the country’s crude to Europe. View the full article
The U.S. is trying to re-focus its energy relationship with top Middle East OPEC countries, notably Saudi Arabia, after a period of tension between Washington and Riyadh over high oil prices. View the full article
Crude production in the Permian Basin is expected to surpass a pre-pandemic high this month as a rebound in the U.S. shale industry fuels activity in its most prolific patch. View the full article
An ambitious project aimed at capturing millions of tons of carbon emissions along the U.S. Gulf Coast in Texas garnered the support of some of the world’s biggest refiners and chemical manufacturers. View the full article
The European Union’s ban on seaborne imports of Russian petroleum in response to Russia’s invasion of Ukraine will lead to an 18% drop in the country’s fuel output by the end of next year, the Energy Information Administration (EIA) said in a monthly report. View the full article
In a move to enhance transparency and make Texas Railroad Commission documents more widely available to the public, the agency recently completed a project to place all historic oil and gas production records online. View the full article
The American Petroleum Institute released a statement from President and CEO Mike Sommers in response to a letter President Biden sent to oil refineries, with API saying shifting away from domestic oil and natural gas is a misguided policy. View the full article
America's shale producers are continuing to the line on production, boosting investor returns and are now attracting the lowest bond yields they’ve ever seen. Instead of using cheap credit to boom once again, they’re using it to retire costlier debt. View the full article
Amid the rusted remnants of Venezuela’s once-mighty oil industry, a motley crew of obscure drillers has achieved a feat few thought possible: It’s more than doubled the country’s crude production in the space of a year. View the full article
Fossil fuel companies should face probes on whether they’re using “loophole-ridden” environmental, social and governance goals to boost executive pay while contributing to environmental destruction, Senator Elizabeth Warren said, adding to her calls to rein in CEO compensation. View the full article
Centennial Resource Development Inc., a shale oil producer in the Permian Basin, agreed to acquire private equity-backed rival Colgate Energy in a cash-and-stock deal valued at about $2.5 billion. View the full article
Oil eased off earlier gains with the European Union’s ban of Russian oil looking increasingly unlikely to pass. View the full article
The vessel hired by Royal Dutch Shell Plc to look for potential oil and gas fields is on course to leave South African waters after community groups won a court case to temporarily halt the activity. 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.