Crude Oil

Petrochemicals , Crude Oil

US Crude Stockpiles Slide as Refining Ramps Up Ahead of Summer: EIA

Refining activity picked up in the most recent week, in response to tight product inventories and near-record exports that have forced diesel and gasoline prices to record levels in the U.S.

May 18, 2022

Natural Gas , Crude Oil , Policy & Regulations

EU Unveils 210 Billion Euro Plan to Ditch Russian Fossil Fuels

Russia's invasion of Ukraine has prompted the European Union to rethink its energy policies amid sharpened concerns of supply shocks.

May 18, 2022

Crude Oil , International

Oil Prices Rise on China Demand Recovery Expectations, Supply Concerns

With COVID-19 restrictions easing in China, oil prices are rising in anticipation of growing supply and demand concerns.

May 18, 2022

Crude Oil , Trade , Storage

US Emergency Oil Reserve Drops to Lowest Level Since 1987

Crude oil stockpiles in the U.S. Strategic Petroleum Reserve fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed.

May 16, 2022

Crude Oil

What’s Affecting Oil Prices This Week? (May 16, 2022)

According to Stratas Advisors, the question remains: when will oil prices break out of their current pattern and in which way will they break—below the lower support level or upwards to new highs?

May 16, 2022

Crude Oil , Policy & Regulations

Saudi Arabia Set for Oil Output Capacity Above 13 Million Barrels Per Day by 2027

Prince Abdulaziz bin Salman said production could be maintained at that level should market demand require it.

May 16, 2022

Petrochemicals , Crude Oil , Trade

Oil Jumps 4% as US Gasoline Prices Hit Record High, Stock Markets Soar

WTI was on track for its highest close since March 25 and its third weekly rise. Brent, however, remained set for its first weekly decline in three weeks.

May 13, 2022

Crude Oil , Trade , International

IEA May Release More Oil If Needed, Says Fatih Birol

IEA Executive Director Fatih Birol also said that the summer may be challenging for the oil market, while winter may be challenging for the gas market.

May 13, 2022

Crude Oil , Trade , International

OPEC Cuts 2022 World Oil Demand Forecast Again on Ukraine War

OPEC cited rising inflation and continued monetary tightening, and lowered this year’s economic growth forecast to 3.5% from 3.9%, adding upside potential was “quite limited.”

May 12, 2022

Crude Oil

IEA Sees World Weathering Lost Russian Oil Supply

IEA's analysis suggests the economic impact from further sanctions on Russian energy mulled by the European Union could be limited.

May 12, 2022