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)
Browsing: petroleum
US-sanctioned tankers have been spotted actively engaging in the booming crude oil trade between Russia and India. This intriguing development highlights the intricate web of global energy supply chains as geopolitical dynamics continue to evolve
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.
Petrobras has announced the confirmation of hydrocarbons in the presalt Aram area, located offshore Brazil. This discovery emphasizes the ongoing potential of the presalt reserves, underscoring Brazil’s strategic position in the global energy market.
Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman have reaffirmed their commitment to maintaining oil market stability. This collective pledge aims to support a healthier outlook for global oil prices amid ongoing economic challenges.
Argentina’s crude oil and natural gas production is approaching record highs, according to the Energy Information Administration (EIA). This surge reflects the country’s growing role as a key player in the South American energy landscape, driven by robust investments and technological advancements.