FERC was hoping for an earlier hearing on the case against Total, but the administrative law judge in an order on July 27 said the “complexity of this matter” requires a longer timetable.
Chinese refiners are the biggest importers of Iranian oil. That U.S. officials are hinting at a possible crackdown may be a veiled threat that Washington has ways to exact a price from Tehran, says analyst.
U.S. officials insist they continue to oppose the Nord Stream 2 gas pipeline, but said the U.S.-German agreement would mitigate the possibility of Russia using energy as a weapon.
So far the evidence from crude oil demand appears to favor the bearish narrative that the world economic recovery is not happening fast enough, especially in the top oil-importing region of Asia.
The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 after Saudi Arabia and others agreed to a request from the UAE.
Marshall Adkins, managing director and head of energy at Raymond James, shares why the fundamentals of oil have never been better than now plus his outlook for U.S. shale producers.
“Good friends can disagree,” Biden told reporters after two meetings with Merkel at the White House where they discussed Russia’s Nord Stream 2 natural gas pipeline.
FERC alleged Total made intentionally losing trades—known as “uneconomic” trading—in order to affect index prices in the U.S. Southwest on at least 38 occasions between 2009 and 2012.
Crude oil inventories in the U.S. fell by 7.9 million barrels in the week to July 9, far more than analysts’ expectations for a decrease of 4.4 million barrels.
Saudi Arabia and the UAE are reported to have reached a compromise to unlock more oil supply after OPEC+ talks this month were abandoned due to a dispute between the two countries, says source.