The Downside Risk Of Tomorrow’s OPEC+ Meeting

The Downside Risk Of Tomorrow’s OPEC+ Meeting

Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, all for less than a cup of coffee per week. Chart of the Week – After more … Read more

How Russian Oil Is Making Its Way From Europe To Asia

How Russian Oil Is Making Its Way From Europe To Asia

Russia has been ramping up oil exports to Asia since its invasion of Ukraine led to Western sanctions on imports of Russian oil. Some of the crude and products going to Asia are being transferred from one vessel to another in international waters around Europe, including outside UK territorial waters. Off the coast of Suffolk … Read more

The Middle East Oil Bonanza Will Slow In 2023

The Middle East Oil Bonanza Will Slow In 2023

Slowing global oil demand growth next year, spiking food prices, and fears of recession in major oil-importing countries are set to slow economic growth in the Middle East, whose major oil producers are enjoying this year a windfall of oil revenues and the highest growth in years. Economies in the Arab Gulf states that are … Read more

Europe Does A Complete U-Turn On African Oil And Gas

Europe Does A Complete U-Turn On African Oil And Gas

European governments are scouring the world for natural gas as they seek to reduce their overwhelming and increasingly uncomfortable dependence on Russia’s Gazprom. Besides the United States, which has done its best to supply as much LNG as possible to its European allies, several African countries have emerged as potential sources of additional gas supplies. … Read more

Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Tanker Companies Race To Ship Russian Oil Ahead Of New Sanctions

Western sanctions have so far failed to crush Russia’s oil exports as Moscow is redirecting crude to its more than willing Asian buyers, China and India. European vessel owners, especially private Greek operators, are moving a lot of the Russian oil in the months before the EU ban on seaborne Russian oil imports kicks in … Read more

Technology vs. Scarcity: The Worrying Reality Of Exponential Growth

Technology vs. Scarcity: The Worrying Reality Of Exponential Growth

Half of all the oil consumed since the dawn of the modern oil age in 1859 has been consumed from 1998 through 2021 inclusive based on data available from the BP Statistical Review of World Energy. Approximately 1.4 trillion barrels of oil are thought to have been consumed to date (though there are estimates as … Read more

Groundhog Day For America’s Energy Grid

Groundhog Day For America’s Energy Grid

After multiple energy crises across several states last year due to America’s aging infrastructure and failing grid system, Americans are once again being asked to curb their energy usage as they face another summer of sweltering temperatures and potential blackouts. Grand promises to improve infrastructure have amounted to little, with no obvious improvements across the … Read more

Oil Markets Torn Between Recession Fears And Physical Tightness

Oil Markets Torn Between Recession Fears And Physical Tightness

Uncertainty is dominating the oil market this week, with recession fears being countered by physical tightness and growing supply risks. Oilprice Alert: This month’s Intelligent Investor column, now available for Global Energy Alert members, outlines the bullish case for oil, gas, and coal. If you’re an investor in the energy space then now is the … Read more

Iraq’s 150,000 Bpd Oil Export Boost Delayed

Iraq’s 150,000 Bpd Oil Export Boost Delayed

Iraq is experiencing delays in upgrading its oil export facilities at Basra, which also delay the planned increase in the oil export capacity of OPEC’s second-largest producer, an oil source in Iraq told Reuters on Wednesday. Iraq plans to increase crude oil export capacity at its Gulf ports to 3.45 million barrels per day (bpd) … Read more

Goldman Sachs Remains Bullish On Oil Prices

Goldman Sachs Remains Bullish On Oil Prices

Goldman Sachs continues to hold a bullish view on oil despite the ongoing market sell-off, reiterating in a note its stance that “the skew to prices from here is squarely skewed to the upside.” Goldman Sachs strategists, including Jeffrey Currie and Damien Courvalin, stress-tested their bullish view and found that despite growing concerns over oil … Read more