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Exxon Mobil Corp. will ramp up spending on low-carbon energy by a factor of four just months after activist investor Engine No. 1 replaced a quarter of the oil giant’s board. View the full article
A daily increase of 400,000 barrels in oil output would be enough to meet demand, according to Iraqi Minister Ihsan Abdul Jabbar. 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
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
The U.S. is talking to other energy-consuming nations about how to press OPEC+ to boost output to address the current supply crunch, a senior U.S. official told reporters in Rome. View the full article
Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow. View the full article
OPEC+ technical experts downgraded their expectations for how tight global oil markets will be this quarter, a week before ministers meet to decide production policy. View the full article
As U.S. House Democrats inch closer to striking a deal on a massive Budget Reconciliation package with their counterparts in the Senate, it is important to note the potential implications for jobs in the upstream sector of the U.S. oil and gas industry. View the full article
European natural gas and power prices dropped after more signals from President Vladimir Putin that Russia will send extra gas to the continent next month. View the full article
Bottlenecks in the global supply chain threaten to drive up renewable-power costs, reversing a decade-long trend that made wind and solar mainstream. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group, and cut off funds to any groups sowing doubts about climate science. View the full article
TotalEnergies SE Chief Executive Officer Patrick Pouyanne said it’s “too early” for the French oil major to consider spinning off its renewable-energy business because that segment may triple in value by 2025. View the full article
Petroleos Mexicanos reported a small increase in third-quarter production after adding new wells, which more than offset the impact of two accidents at its offshore operations. View the full article
Canadian heavy crude’s price collapsed at the U.S. trading hub of Cushing as refiners shun heavy and higher-sulfur crude for lighter grades that are less expensive to process in refineries. View the full article
Executives from Exxon Mobil, Chevron, Royal Dutch Shell and BP were urged by U.S. lawmakers to abandon the leading oil-industry trade group and cut off funds to any groups sowing doubts about climate science. View the full article
Mexico President Andres Manuel Lopez Obrador, the great champion of his beloved but beleaguered state-owned oil giant, may be making his boldest move yet to keep it afloat. View the full article
Oil fell for a second day as one of the top energy diplomats in the U.S. urged producers to hike output. View the full article
The Biden administration is poised to unveil a crackdown on methane leaks from oil and gas wells that will be its most consequential action yet to reduce greenhouse gases -- but is still likely to disappoint climate activists. View the full article
The Biden administration is poised to unveil a crackdown on methane leaks from oil and gas wells that will be its most consequential action yet to reduce greenhouse gases -- but is still likely to disappoint climate activists. View the full article
Royal Dutch Shell Plc mounted a robust defense against activist investor Dan Loeb’s bid to split the company, and pension funds that are dumping its shares, saying the company’s integration of oil, gas and renewables is key to delivering the energy transition. View the full article
U.S. refiner Phillips 66 agreed to buy the rest of its pipeline affiliate that it doesn’t already own in an all-stock-deal valued at about $3.4 billion, the latest effort to streamline midstream operations. 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
Activist investor Dan Loeb has built a position in Royal Dutch Shell Plc and is pushing for a breakup of the energy giant as it embraces renewable energy while continuing to pump oil and gas. View the full article
Equinor ASA is boosting natural gas exports to ease Europe’s supply crunch, sacrificing some oil production in the process. View the full article
Oil’s bumper rally cooled after an increase in U.S. crude inventories and as industrial commodities retreated. 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.
