Markets

The OPEC kingpin is anticipated to increase the official selling price (OSP) of its crude grades for Asia in Sept., driven by rising benchmark prices in the Middle East.

OPEC+ is grappling with key decisions regarding its production policy as crude prices dip and market conditions shift.

In 2024, the US is expected to contribute significantly to non-OPEC oil production growth, with Goldman Sachs projecting it will account for 60% of this increase.

Chevron Corp.'s $53B acquisition of Hess Corp. has encountered further delays as a scheduled arbitration hearing regarding the Stabroek block in Guyana has been set for May 2025.

The sale of Shell and ExxonMobil’s UK North Sea assets to Viaro Energy is a significant move that highlights several strategic shifts within the oil and gas sector amid the energy transition.

The North Asia country has achieved a historic milestone in its oil imports, reaching a record high of nearly 85MM bbl. of US crude in the first half of 2024.

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

Persistent concerns about the economic recovery and oil demand in China as well as the ongoing progress in negotiations for a ceasefire in Gaza kept the pressure on futures prices.

Mexico's crude oil production, currently at around 1.8MM b/d, is anticipated to decline significantly by 2030 due to depleting mature fields.

The question of whether global oil demand will ever peak remains a contentious issue in the energy sector. Organizations such as OPEC and the IEA have been debating this for years, each presenting differing views on future fossil fuel consumption.