Oil & Upstream

Crude oil, OPEC+, US shale and upstream energy market news and analysis for commodity traders.

Oil Bears Keep Leaning on a Diplomatic Resolution That Has Failed Five Times

Dubai Crude Stalls at $88.75 as AI Equipment Delays and China's Import Slump Extend Bearish Pressure

Dubai Crude 4 Sep

Brent's Bear Case Relies on a Ceasefire That Has Already Fractured Twice

Malaysia and Brazil Handle Most of Venezuela's Oil Exports, Squeezing Thin-Margin Refiners

Texas Upstream Employment Slips in July Even as Permian Gas Output Heads for Record 2026

IEA sees biofuel use doubling by 2030, still barely denting oil demand

Nigeria's 2.5 mbpd output target faces a $95 crude market that rewards production, not promises

Brent Holds Near $96 While a 1.2-Billion-Barrel Inventory Deficit Challenges the Bear Case

US Crude Exports Rise as SPR Releases Carry the Weight of Domestic Balancing

US Strategic Petroleum Reserve 4 Sep

Uranium ETF Gains as Nuclear Operators Accelerate Long-Term Supply Procurement

Trump's "Biggest Oil Deal" Runs Into Venezuela's Export Ceiling

Venezuela 3 Sep

US inventory surge and Wall Street's 2027 surplus forecasts sit uneasily with Brent near $96

US Diesel Crack Spreads Break $100 as Russian and Middle East Export Flows Collapse

United States 3 Sep

India's Crude Basket Is Brent-Linked by Price, Not by Origin

Chevron Commits $7 Billion to Venezuela JVs, Targeting 600,000 Barrels a Day

Shell Sells Na Kika Stake to Talos and Ridgewood as BP Takes a Seat on the Other Side

Diversified Energy Pays $1.8 Billion for Elliott's Permian Gas Assets

Brent Holds Near $96 as Iran Blockade Premium Sustains Fed Rate-Hike Bets

Rystad Cuts Russia's 2027 Crude Forecast as Drone Strikes Move Upstream

Rockhopper launches £146m Falklands raise as South Atlantic capital flows elsewhere

US Distillate Inventories at Multi-Year Lows as SPR Reaches 307 Million Barrels

US Strategic Petroleum Reserve 3 Sep

North Sea supply chain moves work abroad as UK fiscal delay stalls £50bn investment

United Kingdom 3 Sep

Woodside Advances Trion Drilling With Pemex's Debt Skewing the Partnership Risk

Murban Commands More Than $30 Premium Over Dubai Ahead of ADNOC's November Pricing Switch

OPEC+ Freezes Output Quotas After Five Months of Hikes That Added No Barrels

China Locks Up 83% of ESPO Crude as Hormuz Disruption Reshapes Pacific Supply Routes

US refiners told to find room for Venezuelan crude as diesel stocks stay thin

United States 3 Sep

Gulf Crude Exports Are Recovering. Refined Products Are Not.

Venezuela Considers 100-Year U.S. Oil Lease as Chevron Eyes Steep Production Jump

Dual Waterway Disruption Holds ICE Brent Near $96 After July's $100 Peak

Indian Fuel Demand Rose Through a $56 Crude Swing as Brent Returns to $97

MOL Energy Revenue Halves in June Quarter as Margins Expand, Ship Units Merge

Singapore 3 Sep

India's Offshore Reserves Offer No Relief as Brent Surges Past $97 on Iran Strike Fears

Irving Oil Turnaround Pressures Northeast U.S. Distillate Supply Into Winter

United States 3 Sep

STATS Group expands European pipeline isolation work as aging infrastructure pressures grow

United Kingdom 3 Sep

Trump Pledges Venezuelan Crude for SPR as Energy Fund Positioning Peaks

US Strategic Petroleum Reserve 3 Sep

Venezuela's 100-Year Lease Offer Runs Into a Production Reality

Venezuela 3 Sep

U.S. Nears Venezuelan Oil Lease Deal as Early Agreements Point to Modest Output Gains

United States 3 Sep

Goldman Sachs Flags Diesel as Oil Markets' Tightest Squeeze as US Retail Price Hits Five-Month High

United States 3 Sep

Hormuz Oil Flows Reach 17 Million Barrels a Day as Goldman's Recovery Ceiling Gives Way

Strait of Hormuz 3 Sep

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