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Latest American Petroleum Institute Inventory Shows Little Impact on Oil Prices

The American Petroleum Institute (API) predicted the crude oil inventory draw to be 815,000 barrels this week. Since the beginning of the year, U.S. crude inventories have dropped by 61...
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Asian Refiners not Requesting for Extra Supplies from Saudi Arabia

Due to higher Saudi crude prices in January, lower overall demand for crude amid the Omicron uncertainty, the Chinese crackdown on illicit practices at its independent refiners, and the start...
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Global Supply will Meet Demand in 2022 – S&P Global Platts Analytics

According to S&P Global Platts Analytics' newly issued 2022 Energy Outlook, oil and gas supply will expand faster in 2022 than it did in 2021, reaching up with and even...
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Iran may Resume Oil Export to Europe and the Mediterranean in January 2022

The benchmark against which the National Iranian Oil Company (NIOC) prices its crude for Europe and the Mediterranean will alter on January 1—a move that dealers tell Argus could signal...
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OPEC+ Interventions has Returned Investor’s Confidence – Russian Deputy Prime Minister

In a recent interview with Russian TV channel Rossiya 24, Russian Deputy Prime Minister Alexander Novak said that OPEC+ actions on the market have helped the oil industry witness the...
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Saudi Supplies Full Volumes to Asia for the Fourth Month in a Row

According to Reuters, Saudi Arabia will supply full agreed oil volumes to most of its Asian consumers, citing anonymous people familiar with the Kingdom's plans. This will be the fourth...
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EIA Revises 2021 and 2022 Oil Forecasts Following Emergence of Omicron

The COVID19 Omicron variant poses a risk to global oil demand, according to the US Energy Information Administration (EIA), which slashed its global oil consumption predictions for 2021 and 2022....
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TotalEnergies Spuds Deepwater Venus-1X Prospect Offshore Namibia

TotalEnergies, a French oil supermajor, has spudded the ultra-deepwater Venus-1X exploration well in Block 2913B, offshore southern Namibia, utilising Maersk Drilling's Maersk Voyager drillship in water depths of 3,000 metres,...
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Banks Continue to Invest in Oil, Gas and Coal Despite Climate Change Pressure

Despite investor and social pressure, banks throughout the world continue to lend money and underwrite bonds issued by oil, gas, and coal businesses, Bloomberg data showed on Monday, with bond...
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Saudi’s Aramco Agrees $15.5 Billion Gas Pipeline Deal with BlackRock and Hassana Investment Company

Aramco has agreed to a $15.5 billion lease and leaseback transaction with a consortium led by BlackRock Real Assets and Hassana Investment Company, the investment management arm of Saudi Arabia's...
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