Markets

US biofuel producer Vertex Energy filed for Chapter 11 bankruptcy after enduring significant operational and financial challenges.

European refiners are exploring alternative crude supplies in response to disruptions in Libya as Germany boosts its imports of Kazakh oil.

OPEC+ has extended its production cuts of 2.2MM b/d until at least Dec. 2024, aiming to stabilize oil prices and manage market dynamics.

Recent fluctuations in oil prices highlight a turbulent period for the global oil market, driven by a complex mix of economic, geopolitical, and policy-related factors.

Libya’s recent halt in crude oil production, driven by political disputes between the eastern Benghazi-based administration and the Tripoli-based government, has far-reaching implications for global oil markets, European refiners, and petrochemical production.

Canada's expanded Trans Mountain pipeline and new emissions cap both have substantial implications for US refineries, affecting both short-term operations and long-term crude supply dynamics.

Recent trends in U.S. refining and oil inventories are exacerbating global oil trading risks.

The Sharara oil field, Libya's largest, has halted production due to protests and political conflicts.

The global oil market is currently navigating a phase of intense volatility, marked by a tug-of-war between bullish and bearish forces.

The US has solidified its position as a key player in the global oil market.