Oil & Upstream

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

BP Lifts Dividend 4% as Price Rally Powers Profit to $5.73 Billion in O'Neill's Debut Quarter

Russian Crude Processing Falls to 24-Year Low After Ukraine Hits Tankers and Pipelines

XOM Q2 2026: Refining Earnings Tripling YoY Is the Trade, Not the Headline Beat

Brent Crude at $84.71 as Iran Diplomacy Caps Prices; IEA Inventory Draw Argues for a Floor

OPEC+ Closes Out Its 2023 Output Cut Reversal as Kuwait Production Rebounds Sharply

Project Vault's $10 Billion Buffer Leaves Copper, Nickel and Aluminum Without Durable Supply Cover

ExxonMobil's Uaru FPSO Sails for Guyana With Q4 2026 First Oil on Schedule

ExxonMobil 4 Aug

Fed Signals September Rate Rise as Oil Retreats From $100 Supply Shock

Big Oil Defers on Venezuela as Post-Maduro Output Creeps Higher Without Investment Deals

Venezuela 3 Aug

WTI Bears Face a Familiar Trap as Ceasefire Optimism Collides With Thin OPEC+ Cover

CPCL to Lift Manali Refinery Throughput to 280,000 Bpd as Indian Refining Investment Surges

OPEC+ Votes 188,000 bpd September Increase With Hormuz Still Shut

Strait of Hormuz 3 Aug

BP Closes Gelsenkirchen Refinery Sale as Portfolio Overhaul Accelerates

Serica, Genel Bet Beyond the North Sea as BP's £2 Billion Exit Stalls

North Star Locks In £275 Million to Expand Offshore Wind Support Fleet

BP Formally Markets North Sea Business With Five Production Hubs

Chevron Sets Quarterly Earnings Record While Exxon Shares Slide on Downstream Shortfall

OPEC+ Adds 188,000 Barrels Per Day as Iraq-Turkey Pipeline Deal Buys Twelve Months

TotalEnergies and APA Sanction Suriname's GranMorgu Deepwater Project as Atlantic Basin Supply Gains New Weight

TotalEnergies 3 Aug

Saudi Aramco's Rerouting Push Runs Into Hard Infrastructure Limits

Saudi Aramco 3 Aug

ADNOC to Switch All Crude Pricing to Brent from November as Benchmark Volatility Bites

Tight US Stocks and Stalled Hormuz Flows Challenge Brent's $83 Retreat

UAE Departure Cuts OPEC's Market Share Below 30% as Group Vows to Hold Together

Trump Declares Burnham Will Open Up North Sea Oil as UK Investors Wait on Fiscal Terms

United Kingdom 2 Aug

Brent at $91 as Five OPEC+ Output Increases Fail to Reverse Iran-Conflict Gains

OPEC+ Signals September Exit From Production Hikes With Surplus Risk Growing

Suriname's Block 52 Sweet Crude Advances While Traders Watch Hormuz

Strait of Hormuz 2 Aug

Brent Holds Above $91 as Aramco Asia Price Cut Tests Depth of Ceasefire Rally

OPEC+ Set for Another 188,000 bpd Hike as Capacity Gaps Erode the Value of Quota Moves

Nigeria Pumps at Six-Year Crude High as Iran Crisis Opens Supply Gap

New Zealand Awards First Offshore Permit Since Ardern Drilling Ban Lifted

Australia 2 Aug

U.S. crude inventories draw 7.2 million barrels while the bearish consensus leans on diplomacy that is not yet operat...

United States 2 Aug

Suriname Inches Toward Oil Commerciality as Petronas Completes Eighth Straight Well Success

Trump's Saudi Nuclear Pact Sets Enrichment Precedent Without Tighter IAEA Oversight

EIA Data Show U.S.-Canada Energy Trade Slid to $137 Billion in 2025 as Oil Prices Fell

Trump's Trade Threat Puts Spain's US Crude Dependence to the Test

ENEOS FY2024 ESG Data Flags Operational Risk: Safety Miss and CO2 Beat Tell Different Stories

Brent Tops $91 as Intercepted Iranian Missiles Restart Hormuz Hostilities

Urals Crude Doubles from July Lows as Sanctions Threat and Ukraine War Support Russian Grade

Fed September Hike Odds Hit 81% After Brent's Red Sea Spike

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