Oil Producers Flush With Cash Cut Reliance on Funding Markets
Last year, the demand for loans from fossil fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022.
US Reimposes Oil Sanctions on Venezuela
MIAMI — The Biden administration on April 17 reimposed crushing oil sanctions on Venezuela.
US to Reimpose Venezuela Oil Ban Unless Maduro Acts Quickly
President Joe Biden’s administration intends to reimpose oil sanctions on Venezuela if Nicolas Maduro’s regime does not take steps to honor an agreement to allow a fairer vote in elections.
OPEC Says Oil Needs Monitoring Amid Summer Demand
Oil will need to be closely watched in the coming months to ensure “a sound and sustainable market balance” during an expected surge in demand, OPEC said in its monthly oil market report.
Energy Researcher: Peak Oil Won’t Happen Before 2030
Global oil demand won’t peak before the end of this decade due to underwhelming fuel economy standards and slowing adoption of electric vehicles in the U.S., energy researcher Enverus says.
Exxon Confident Its Intent With Guyana Contract Will Prevail
Exxon Mobil Corp. is convinced its interpretation of intent in a Guyanese oil contract signed a decade ago will prevail in a landmark arbitration case against Chevron Corp.
Schumer Calls on FTC to Probe Wave of Oil Company Mergers
Senate Majority Leader Chuck Schumer called on the Federal Trade Commission to open a full investigation into a wave of acquisitions in the oil and gas industry, arguing that the consolidation threatens competition and could lead to higher prices.
March 6, 2024Shortage of Oil Tankers at Hand
Warnings from the oil tanker industry that too few of the ships are being built are haunting the market after Houthi attacks on shipping caused widespread diversions in petroleum trades.
US Oil Output Expected to Flatline Until 2025
The U.S. sees oil production flatlining for most of this year before reaching a new record in early 2025. That would ease concerns about a supply glut that has weighed on prices.
Dry Panama Risks Driving Large Oil Tankers Away From Canal
Dry weather is set to force large oil tankers to completely stop using the Panama Canal, requiring the vessels to extend their voyages by thousands of miles, a shipping researcher said.