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By Rong Wei Neo Oil prices are expected to “moderate” because of ample supply, according to the International Energy Agency. “I don’t expect a major shake-up in the oil markets thanks to growing production coming from the Americas,” OPEC+’s change in policy to increase output and slowing demand growth, IEA Executive Director Fatih Birol said …
Oil Glut Will ‘Moderate’ Prices After Recent Gains, Birol Says Read More »
As COP30 nears, the US’s pressure to keep fossil fuels relevant may empower petrostates, potentially giving them more leverage at the UN talks. By Jennifer A Dlouhy and Akshat Rathi Photo illustration: Daniel Zender; photo: White House The world was on the brink of a climate milestone: adopting a global carbon tax for the shipping …
How Trump Pressures the World Into Burning More Oil and Gas Read More »
U.S. President Donald Trump’s administration has prepared additional sanctions it could use to target key areas of Russia’s economy if President Vladimir Putin continues to delay ending Moscow’s war in Ukraine, according to a U.S. official and another person familiar with the matter. U.S. officials have also told European counterparts that they support the EU …
A summary of Fossil Future Chapter 4, part 1 of 3 By Alex Epstein This is the fourth of the “Alex Notes” on my book Fossil Future—like Cliff’s Notes, but actually written by the author. (See #1, #2, and #3). Myth: Fossil fuels have made the planet less livable. Truth: Fossil fuels have made the planet incomparably more livable, …
COMMENTARY: How Fossil Fuels Make Earth More Livable Than It’s Ever Been – Alex Epstein Read More »
By Erwin Seba Benchmarks pare early-day gains spurred by Thursday’s sanctions Brent, US crude both gain over 7% in the week Chinese state oil majors to suspend Russian oil purchases Indian refiners set to cut their Russian crude imports HOUSTON, Oct 24 (Reuters) – Oil prices fell on Friday as skepticism crept into the market …
Oil Slips on Skepticism About US Commitment to Russian Oil Sanctions Read More »
(Reuters) – Baker Hughes CEO Lorenzo Simonelli said on Friday the global macro environment remains resilient through 2025, despite geopolitical and policy headwinds, supported by the rapid deployment of generative artificial intelligence driving power demand and industrial activity. Simonelli said the company remains confident of reaching $1.5 billion in data center orders ahead of its …
Baker CEO Says 2025 Resilience Driven by AI Growth, Sees Oil Investment Slowdown Read More »
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by two to …
US Drillers Add Oil and Gas Rigs For Second Week in a Row, Says Baker Hughes Read More »
(Reuters) – Mexico’s state-owned oil company Pemex has paid down off half its debts to suppliers since President Claudia Sheinbaum took office in October 2024, the company’s chief executive said on Friday. CEO Victor Rodriguez said in a presentation to Congress that the company had paid 300 billion pesos to suppliers as of September, and …
Mexico’s Pemex Says Supplier Debt Down 50% Under Current Government Read More »
By Georgina McCartney (Reuters) – HOUSTON, Oct 24 – North Dakota oil production is expected to have climbed slightly in September but is on track to fall in the longer term as wells undergo a natural decline, the state regulator said on Friday. North Dakota is home to the Bakken oilfield, a massive shale field …
(Reuters) – Oil production in North Dakota fell 10,000 barrels-per-day (bpd) to 1,153,000 bpd in August, monthly data from the state Industrial Commission showed. Bakken and Three Forks oil production stood at 1,124,000 bpd in the month. The data was released on the North Dakota Industrial Commission’s general statistics webpage and has been rounded to …
