OilPrice.com

By Michael KernOil prices have been rangebound for the last four weeks with demand concerns being canceled out by expectations of an OPEC+ production cut extension. - The latest forecast from the US...

ADNOC increased its oil production capacity to 4.85 million bpd ahead of the next OPEC meeting. The country’s stated aim is to reach 5 million bpd capacity by 2027. OPEC’s current...

Global Data: Aramco is leading oil companies in AI investment. Saudi Aramco spent $3.5 billion on research and development last year. As for AI itself, the technology was deployed in areas such as oil...

Solar stocks rallied on Wednesday and Thursday after First Solar beat earnings estimates and issued more optimistic guidance. First Solar has been one of the biggest beneficiaries of the Inflation...

Natural gas storage capacity hasn't increased at a pace with production, which has been soaring in the past decade. Adjusted for inflation, natural gas prices slumped last week to their lowest level...

By Charles KennedyDespite the Gaza war, Israel's gas exports to neighboring countries continue to increase. Israel not only said that gas supplies to both Egypt and Jordan had increased by...

British supermajor Shell last week exited Iraq’s potentially game-changing US$11-billion Nebras Petrochemical Project. Shell signed the NPP deal, having agreed to the original memorandum of...

Increased distillate production and slowing economic activities have led to rising diesel stocks and falling prices. Weak manufacturing activity in the U.S. and Europe contributes to reduced diesel...

U.S. oil production reached a record 13.2 million barrels per day, significantly increasing exports, especially to Europe and Asia. End-of-year tax considerations are prompting traders to export more...

By Michael KernOil markets are finally focusing on geopolitical risk, with disruptions in the Red Sea pushing Brent up toward $79 and WTI above $73. - Shipping stocks have been on the rise since the...

Unfavorable economic conditions and protectionist trade policies are squeezing profit margins for wind and solar energy, hindering the progress of the renewable energy revolution. Global pledges made...

OPEC+ faces record-breaking U.S. oil production and rising supply from other non-OPEC+ producers, including Brazil, Guyana, Canada, and Norway. Barring a major geopolitical escalation resulting in a...

Saudi Aramco saw its Q1 2023 net profit decline by 19% year-on-year. Many Western investors are concerned that Saudi Arabia uses Aramco as a cash–cow for non-hydrocarbon-related...

Oil prices have seen a 4-week losing streak. Recession fears continue to weigh on sentiment in oil markets. Many analysts continue to see a tighter oil market in the second half of 2023. Crude oil...

Service companies have responded slower to higher oil prices than operating companies. Some service sectors have been more resilient than others in the Q-4 downturn. Overall, U.S. shale appears set...

China relaxing its COVID-19 measures, the G7 oil price cap, and OPEC+ undershooting its production targets is bullish for crude. Institutional buyers were still dumping crude futures at the beginning...