Markets

Abu Dhabi National Oil Company (ADNOC) CEO underscores the unsustainable trajectory of global energy demand growth.

Saudi Arabia’s state-owned company’s Chief Financial Officer, Ziad Al-Murshed, has highlighted a concerning trend, stating that the natural decline in operating oilfields is resulting in a loss of 6MM b/d of global oil production annually.

Amid the intricate web of OPEC+ activities, the question arises: are OPEC+ members disregarding the 2024 production cuts?

Refineries, pivotal in the global energy landscape, are exploring pathways to reduce greenhouse gas (GHG) emissions.

OPEC, in its latest Monthly Oil Market Report, anticipates a 1.8MM b/d increase in global oil demand in 2025, reaching 106.2MM b/d.

Geopolitical tensions pushed futures prices for crude benchmarks higher.

Despite the official ban on Russian oil enacted by Congress two years ago, the US imported a rare cargo of 10K bbl. of Russian crude in Nov. 2023, as revealed by Energy Information Administration (EIA) data.

There are perspectives on the energy transition from various angles, covering Saudi Arabia's capacity halt, TotalEnergies' warning, Invenire Energy's stance on upstream investments, and the IEA's emphasis on transition in energy security.

China, the US, and Europe are intensifying efforts to rebuild oil inventories, capitalizing on lower prices and concerns about shipping disruptions in the Middle East.

In a significant development for the global oil and gas market, Guyana crude cargo has traded for the first time in the Platts Market on Close (MOC), marking a milestone for this emerging player in the energy landscape.