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Breaking News:

U.S. Gasoline Prices Ripe For Volatility

What Erdogan's Reelection Means For Sweden's NATO Bid

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Energy

Debt Ceiling Deal Optimism To Boost Oil Prices

May 29, 2023 at 12:21 | Alex Kimani

Oil markets have kicked off the new week on a slightly sour note with leading benchmarks recording minor gains. WTI crude was up 0.37% to trade at…

Norway Looks To Ramp Up Exploration In Arctic Waters

May 29, 2023 at 11:42 | Felicity Bradstock

Norway appears to remain firmly committed to its oil and gas operations despite leading the green transition. Norway has long used almost entirely renewable energy to power its domestic consumption, yet it…

Is This The Supermajor Of The Century?

May 29, 2023 at 09:57 | Robert Rapier

On May 22, 2023, Chevron announced that it had entered into a definitive agreement with PDC Energy, Inc. Chevron will acquire all of the outstanding shares of PDC…

Memorial Day Drivers Get Cheaper Gasoline Prices Thanks To Flagging Crude

May 29, 2023 at 09:42 | Charles Kennedy

Gasoline prices in the United States were up slightly on Memorial Day, the official start of the summer driving season, though Americans are still paying less at the…

Canadian Oil And Gas Producers Restart Production As Wildfires Abate

May 29, 2023 at 08:33 | Michael Kern

Canadian oil and gas producer Crescent Point Energy Corp on Monday said it had brought back online full production volumes at its operations in the Kaybob Duvernay play that…

Saudi Arabia Is Profiting From Its Record-Breaking Diesel Trade

May 29, 2023 at 06:42 | Tsvetana Paraskova

Saudi Arabia is making money from diesel trading after the EU embargo on Russian fuels, as the world’s top crude exporter is now importing record volumes of cheap diesel from…

Oil Prices Climb As Default Fears Fade

May 29, 2023 at 03:05 | Irina Slav

Crude oil began trading this week with a gain after President Biden and House Speaker Kevin McCarthy were reported to have reached a provisional agreement on raising the debt…

OPEC+ Cuts Fail To Boost Middle East Oil Prices

May 26, 2023 at 17:02 | Gerald Jansen

The OPEC+ voluntary production cuts, on paper promising curtailments amounting to 1.66 million b/d, should have been the main story for May. Regrettably for many in the Middle East, just…

Conoco To Box Suncor Out Of Oil Sands Deal

May 26, 2023 at 16:42 | Julianne Geiger

ConocoPhillips will snap up TotalEnergies' 50% stake in the Surmont oil sands field for more than $3 billion in a move that will prevent Suncor Energy from buying into the…

Solar Is Cheapest Energy Source Says IEA

May 26, 2023 at 15:26 | Irina Slav

Solar power has been touted as the cheapest available source of energy for several years now. Solar power proponents have been talking about the consistent decline in the cost of…

Natural Gas Prices Could Fall Below Zero In Parts Of Europe

May 26, 2023 at 14:52 | Tsvetana Paraskova

As tepid demand for gas from power generation and industry has sent European natural gas prices into a freefall in recent weeks, traders and industry officials are not ruling out…

The Race To Dominate The LNG Sector Is Creating A Buyer’s Market

May 26, 2023 at 13:45 | Haley Zaremba

Back in February of 2021, Qatar laid out a plan to ensure its dominance in liquefied natural gas exports for at least two decades. Already the world’s top exporter of…

The Decline In Coal Appears To Have Been Exaggerated

May 26, 2023 at 13:37 | Felicity Bradstock

Despite big promises of a green transition and the creation of ambitious climate pledges, some countries are continuing to support the development of new coal mines. The U.K. and Australia…

Oil Rebounds As U.S. Drillers Continue To Pull Back

May 26, 2023 at 12:13 | Julianne Geiger

The total number of total active drilling rigs in the United States fell by 9 this week, according to new data from Baker Hughes published Friday, after falling by 11…

Russia Prefers OPEC+ Leaving Oil Production Unchanged

May 26, 2023 at 10:48 | Charles Kennedy

Russia would prefer its partners of the OPEC+ group to leave oil production unchanged when it meets next week, as Moscow is okay with the current oil prices and production…

Fracking Ban Could Cause Gas Shortage In Colombia

May 26, 2023 at 10:26 | Matthew Smith

Colombia’s first-ever leftist president emerged victorious from the July 2022 election run-off after running a broad reform-based campaign with a focus on transitioning the Andean country…

Explosive Evidence Suggests Energy Companies Helped Finance Colombia’s Civil War

May 26, 2023 at 10:13 | Matthew Smith

Colombia has been locked in a vicious multiparty civil war for control of the country’s vast natural wealth, including fertile agricultural land, fossil fuels, and gold,…

Europe’s Natural Gas Prices Set For Longest Weekly Losing Streak In A Decade

May 26, 2023 at 09:29 | Charles Kennedy

Benchmark natural gas prices in Europe continued their freefall this week and were headed to post the longest weekly losing streak since 2013 amid weak demand.   The front-month futures…

Oil Markets On Edge Ahead Of OPEC Meeting And U.S. Debt Deadline

May 26, 2023 at 07:18 | Michael Kern

Oil markets are on edge as the next OPEC+ meeting and the "X date" when the U.S. government may default on its debt loom.Oilprice Alert: Whether you are new to…

Mixed Messages From OPEC+ Keep Markets On Edge

May 26, 2023 at 06:49 | Editorial Dept

On Thursday, US benchmark July crude oil futures prices declined after Russian Deputy Prime Minister Alexander Novak suggested that there might not be any additional production cuts by OPEC+ in…

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