CDN and International News

By Grant Smith Evidence of a long-awaited supply overhang on global crude markets is becoming more tangible. This year’s long-anticipated oil surplus has taken so long to show itself that traders were starting to doubt it would ever arrive. The wait seems to be ending. While global supply has been exceeding demand at a brisk …

From Ships to Spreads, There Are Growing Signs the Oil Surplus Has Arrived Read More »

Summary Oil and fuel export revenues down to $13.35 billion in September Crude exports rise to 5.1 mln bpd, highest since May 2023 Oil product exports drop to 2.4 mln bpd, lowest since April 2020 Drones knocked out another 200,000 bpd of crude processing MOSCOW, Oct 14 (Reuters) – Russia’s revenues from crude oil and …

Russia’s Oil and Fuel Export Revenues Fell Again in September, IEA Says Read More »

Canada’s secret energy advantage: long life, no decline By Stewart Muir Oil and gas fields almost everywhere face natural decline. Shale wells lose about 70 per cent of their output in the first year. Many conventional reservoirs also taper off, often in the range of 5 to 7 per cent annually, though actual decline rates …

Canada’s Oil Sands are the Costco of World Energy – Dependable and You Know Exactly Where to Find It – Stewart Muir Read More »

Saudi Aramco can sustain crude oil production at 12 million barrels per day (bpd) for a year without incurring additional costs, Chief Executive Amin Nasser said on Monday. Saudi Arabia holds a substantial share of the world’s spare oil capacity – idle supply that can quickly be brought to market. Speaking at the Energy Intelligence …

Saudi Aramco Can Sustain 12 Million Bpd Maximum Oil Capacity for a year, CEO Says Read More »

The recent surge in suspected Russian “hybrid warfare” incidents across Europe has put governments on high alert, raising questions about the vulnerability of the region’s energy infrastructure as the continent enters the critical winter heating season. Preventing sabotage of a massive energy network poses security and logistical challenges. But Europe’s leaders may need to start …

Russian Hybrid Warfare Could Leave Europe’s Energy Consumers in the Cold: Bousso Read More »

The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the …

Sinopec Diverts Supertanker from US-Sanctioned Port, Ship Tracking Data Shows Read More »

By Hugo Dixon (Reuters Breakingviews) – The Group of Seven says it wants to “maximise pressure on Russia’s oil exports”. If the rich industrialised nations are serious, they could slash Moscow’s income from overseas crude by up to $80 billion a year. That would deliver a big blow to the Kremlin’s flagging economy and might …

How to Cut Russia’s Oil Revenue by $80 Bln a Year Read More »