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Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive. View the full article
Iran said it had agreed with the European Union to restart big-power talks to revive the 2015 nuclear deal before the end of November and a precise date for the negotiations would be announced in the next week. View the full article
Denmark’s government wants to drop fossil fuels in domestic air travel by 2030 in its most recent push to meet its climate targets. View the full article
Oil majors that want to reduce their carbon footprint will have to shift their activities to energy basins where drilling rigs can be powered by renewables and which have ample space for carbon sequestration, a report indicates. View the full article
The United Arab Emirates has started shipping rare cargoes of oil toward Europe, where crude buyers are snubbing imports from Russia in the wake of the nation’s invasion of Ukraine. View the full article
Russia’s oil output increased in October for a second straight month as companies open the taps under the OPEC+ agreement to raise output. View the full article
Saudi Arabia’s larger-than-expected rise in oil prices is a signal it will continue resisting U.S. pressure to pump faster, according to Vitol Group. View the full article
ExxonMobil announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. View the full article
Oil rose after a two-day decline with a selloff in global equities easing and some crude output still shut three weeks after Hurricane Ida hit the U.S. View the full article
The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said. View the full article
Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production. View the full article
OPEC and its allies will discuss their response to the Omicron variant of the coronavirus at their meeting this week, although their knowledge of the potential impact on oil markets remains limited. View the full article
Galp Energia SGPS SA is considering a sale of its upstream operations in Angola, as Portugal’s biggest oil company seeks to streamline its hydrocarbon portfolio, according to people familiar with the matter. View the full article
Industry groups reacted to the Department of Interior’s release of its five-year offshore drilling plan that seeks to block new offshore drilling in the Atlantic and Pacific oceans, saying it would be an overall disadvantage to America and its energy security. View the full article
U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. View the full article
Nigeria expects to raise its daily crude production closer to its OPEC quota in about two weeks as authorities re-open wells that had to be shut to keep criminals at bay. View the full article
Nigeria’s Senate will investigate Shell Plc’s historic license renewals in the West African state to determine whether they were extended unlawfully and cost the government up to $200 million. View the full article
Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel. View the full article
Neptune Energy has begun drilling on the Ofelia exploration well in the Norwegian sector of the North Sea, the company announced. View the full article
Guyana, home to the world’s largest oil discovery of the past decade, is in discussions with Abu Dhabi to build a deepwater port to serve the rapid economic development along South America’s Caribbean coast. View the full article
The world’s biggest energy companies are producing the most cash in years, but don’t expect them to spend it on bringing on fresh supplies of oil and natural gas to combat shortages in Europe and China this winter. 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
Oil ended the day little changed after a volatile session in which the latest U.S. inflation report and data showing high prices hitting U.S. fuel demand roiled prices. View the full article
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Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member tries to raise output to 1.4 million barrels a day by mid-2022. 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.