UK consultancy Wood Mackenzie highlighted significant risks facing the global oil refining industry, with over 20% of the global refining capacity at risk of closure.
March 30, 2024
Shipping volumes in the Red Sea have sharply declined by over 60% since Nov., attributed to ongoing Houthi attacks.
March 30, 2024
OPEC and its allies, known as OPEC+, are holding firm on their current oil production policy, with no plans for changes at the upcoming Joint Ministerial Monitoring Committee (JMMC) meeting.
March 30, 2024
Mexican state energy company Pemex reported its lowest crude output in 45 years, with production in Feb. having averaged 1.55MM b/d.
March 30, 2024
Geopolitical Dynamics Shape Oil Trade in the World with China's Record Russian Imports and India's U.S. Oil Surge Amid Sanctions.
March 25, 2024
Ukraine continued its campaign of drone strikes against Russian energy targets, pushing futures prices for benchmark crudes up to fresh highs not seen since early Nov. or late Oct.
March 25, 2024
Brent crude surged above $85/bbl propelled by multiple factors including dwindling US inventories, an optimistic outlook from the IEA, and disruptions to Russian oil facilities by Ukrainian drones.
March 24, 2024
The US achieved a remarkable milestone in 2023, surpassing all previous records to average 12.9MM b/d of oil production, attributed to technological advancements such as fracking and horizontal drilling.
March 24, 2024
Top executives from leading energy corporations, including Shell, Saudi Aramco, ExxonMobil, bp, and Chevron, convened at the CERAWeek by S&P Global conference to address the evolving dynamics of the global energy landscape.
March 24, 2024
The oil industry is undergoing a transformation propelled by the adoption of digital technologies, particularly artificial intelligence (AI), which is revolutionizing operations and driving efficiency.
March 24, 2024
