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US Crude and Gasoline Inventories Rise on Lower Exports, Demand, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Gasoline, Latest, Oil, US News / By

(Reuters) – U.S. crude oil and gasoline inventories rose unexpectedly last week as both exports and demand fell sharply, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 3.8 million barrels to 419 million barrels in the week ending June 27, the EIA said, compared with analysts’ expectations in a Reuters poll …

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Oil and Gas Activity Contracted Slightly in Second Quarter 2025, Dallas Fed Survey

Conventional Energy, Latest, Natural Gas, Oil, US News / By

(Reuters) – Activity in the U.S. oil and gas sector in Texas, Louisiana and New Mexico contracted slightly in the second quarter of 2025, the Dallas Fed survey showed on Wednesday, as firms grappled with a jump in steel tariffs. The decrease comes after U.S. President Donald Trump, who has encouraged U.S. producers to “drill, …

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Is OPEC’s Supply Surge a Precautionary Move or a Market-Share Grab?

CDN and International News, Conventional Energy, Latest, Oil / By

Crude shipments from key Middle East producers reached a two-year high in June. By Julian Lee Oil producers in the Middle East boosted crude shipments by 1 million barrels a day last month. But don’t worry: They say they’re not embarking on another free-for-all like the one we witnessed just before the Covid-19 pandemic crushed demand. The …

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Major Canadian Oil Site Vents Most Gas Since 2021 Due to Wildfire

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands / By

Major Canadian Oil Site Vents Most Gas Since 2021 Due to Wildfire Cenovus Energy Inc.’s Christina Lake oil-sands site vented 151,511 cubic feet a day of natural gas into the atmosphere in May, the most in over four years, due to an emergency shutdown caused by a wildfire. The shutdown was prompted by a wildfire …

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Boom-and-Bust Oil Puts Houston at Center of Real Estate Crisis

Conventional Energy, Latest, LNG, Natural Gas, Oil, US News / By

President Donald Trump is championing a revival of American fossil fuels with calls to “drill baby drill.” But in the US energy capital, a pullback in the industry has already left its mark. Houston office buildings once packed with oil executives, engineers and energy traders are now marked by darkened floors and fewer desks. A wave of …

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Equinor, Partners Approve $1.3 billion Johan Sverdrup Oilfield Expansion

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(Reuters) – Norway’s Equinor and its partners have approved a 13 billion Norwegian crown ($1.29 billion) investment for the expansion of Johan Sverdrup, western Europe’s largest producing oilfield, the company said on Tuesday. The project is expected to increase recoverable volumes from the field by between 40 million and 50 million barrels of oil equivalent, Equinor …

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Morgan Stanley Sees Brent at $60/bbl by Early Next Year

Conventional Energy, Latest, Oil, US News / By

Brent crude will likely retrace to around $60 per barrel by early next year, with the market being well supplied and geopolitical risk abating following the Israel-Iran de-escalation, Morgan Stanley said in a note on Monday. The bank added it sees robust supply growth from non-OPEC countries over 2025-26 in the order of 1 million …

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Argentina Asks UK Court to Pause Enforcement in $16 Bln Oil Company Seizure Case

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Argentina on Monday urged London’s High Court to pause enforcement of a $16 billion-plus United States court judgment over the expropriation of oil and gas company YPF, pending an appeal by the Argentinian government in the U.S. The South American republic was ordered in 2023 to pay minority shareholders around $16 billion resulting from its …

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US Supreme Court to Hear Enbridge’s Venue Challenge to Michigan’s Pipeline Case

Conventional Energy, Energy Topics & Technology, Latest, Oil, Pipelines, US News / By

The U.S. Supreme Court agreed on Monday to hear Enbridge’s bid to change the venue of Michigan’s lawsuit seeking to force the Canadian pipeline operator to stop operating a pipeline underneath the Straits of Mackinac, waterways linking two of the Great Lakes, over environmental concerns. The justices took up Enbridge’s appeal of a lower court’s ruling …

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