U.S. crude oil inventories plunged by 4.3 million barrels last week, signaling a tightening supply amid robust demand, according to the latest data from the Energy Information Administration (EIA)
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The U.S. has taken decisive action by imposing sanctions on multiple companies linked to the facilitation of Iranian oil shipments to China. This bold move represents a crucial advancement in Washington’s strategy to disrupt Iran’s oil exports and diminish its influence across the region.
Norway’s Equinor has made headlines by selling its stake in a Brazilian oil field for a staggering $3.5 billion! This bold decision signals a significant strategic shift in the company’s investment portfolio. With this move, Equinor is not just reshaping its future but also honing in on key assets to enhance operational efficiency.
The battle over oil production in Alberta has reached a boiling point in the wake of the recent Canadian elections, igniting fierce regional tensions between passionate environmental advocates and the powerful fossil fuel industry. This escalating conflict underscores the profound divisions in policy and economic priorities that are shaping the future of the province.
Vitol is ramping up its oil purchases from Venezuela as the clock ticks down on a crucial U.S. license that allows these transactions. This bold move highlights the trading giant’s strategic maneuvering to lock in supplies while navigating the increasingly stringent sanctions on Venezuelan crude.
The U.S. Energy Information Administration (EIA) has revised its Brent oil price forecast for 2025 and 2026, signaling a more cautious outlook amid fluctuating global demand and production challenges. This adjustment reflects ongoing volatility in the energy market.
Spain’s Oil Imports from Venezuela Surge 60% Ahead of U.S. Sanctions Amid Shifting Global Energy Dynamics In a notable shift…
The U.S. is intensifying its efforts to curb Iran’s oil revenue by targeting China’s “teapot” refiners, which play a pivotal role in processing Iranian crude. This move aims to disrupt the flow of funds to Tehran amid ongoing sanctions.
Indian refiners are increasingly sourcing oil from Latin America and Africa to compensate for the loss of Russian crude, as geopolitical tensions reshape global supply chains. February data highlights a strategic pivot amid shifting market dynamics.