Oil & Upstream

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

Record SPR Drawdowns and 7.6 Billion Barrel Stockpile Floor Say the Crisis Is Not Over

US Strategic Petroleum Reserve 27 May

The Hormuz Traffic That Wasn't and the SPR That's Running Dry

Strait of Hormuz 27 May

Brent Swings $25 in a Week as US Strikes and Ceasefire Whipsaw Oil

The $100 Oil Consensus Has a Demand Destruction Problem Nobody Wants to Price

Oil Swings 6% on a Trump Post as Citi Targets $120 and the IEA Keeps 80% of Its Reserves in Reserve

BP Doubles Q1 Profit to £2.7 Billion While Divesting 11.5 GW of Offshore Wind

Oil Whipsaws 14% in a Week as Trump Toggles Between Iran Strikes and "Serious" Talks

Pemex Dodges Moody's Downgrade But Cannot Escape Its Own Decline

Traders Should Brace for July Oil Price Spike as Chinese Maintenance Season Ends

IEA Says Internal Combustion Vehicle Sales Peaked in 2017 as EVs Approach 30% of Global Market

Oil Crashes 16% in a Day as Trump Ceasefire Announcement Whipsaws Crude

Algeria Hosts OPEC+ Talks as Bloc Lifts June Quotas 188,000 bpd Despite Kazakhstan's 20% Slump

Oil Drops 6% on Iran Deal Hopes, But Record SPR Draw Shows How Tight Supply Really Is

US Strategic Petroleum Reserve 24 May

Every Trump Post Swings Crude $10 and the Downstream Market Has Stopped Trying to Hedge It

China's Crude Import Swings Mask a Strategic Stockpiling Push That Could Blindside Western Oil Markets

IEA Warns of Oil 'Danger Zone' as 13 Million Barrels Per Day Go Missing and Inventories Deplete

The $100 Oil Consensus May Be Wrong in Both Directions

Brent crude prices could hit USD 150/bbl under bull case scenario; Near-term expected to reach US... — involving ADNO...

UAE Leaves OPEC, Eyes 5 Million Bpd as Abu Dhabi Ends Decades of Quota Frustration

Brent's $106 rally has three overlooked pressure valves

EIA Short-Term Energy Outlook — May 22

OPEC Monthly Oil Market Report — May 22

IEA Oil Market Report — May 22

EIA Weekly Petroleum Status Report — May 22

The record US crude draw no one is talking about signals deeper supply crisis

United States 22 May

Asia Scrambles for Replacement Barrels as Hormuz Tanker Backlog Begins to Clear

Strait of Hormuz 22 May

The SPR record, the waiting tankers, and the fine print in the ceasefire text

US Strategic Petroleum Reserve 22 May

Alberta Referendum Threat Puts Canadian Energy Assets in Jurisdictional Limbo

UAE Exits OPEC, Taking 4.8 Million Barrels of Capacity With It

The oil market's bullish consensus conceals four bearish signals

Money managers see $105 oil as self-correcting, not a sustained rally

Gulf Shutins Depleted OPEC's Spare Capacity Buffer More Than Markets Realize

Hormuz Clash Drives Brent's 18% Weekly Surge — But the Market Is Already Pricing a Ceiling

Sankey's $6 Gasoline Call Lands as Crude Holds Triple Digits and Inventories Loom

Oil Traders Lock In $81-Plus as the New Floor Through Mid-2027, Survey Shows

UAE Walks Out of OPEC After Six Decades, Setting Up a Supply Battle With Riyadh Once Hormuz Reopens

Strait of Hormuz 21 May

Oil Drops 5% on Iran Ceasefire Signals as Physical Disruption Persists

Oil Drops 6% as Trump Claims Iran Deal Close, Ships Move Through Hormuz

Strait of Hormuz 20 May

Devon-Coterra Merger Anchors $38 Billion U.S. Shale Buying Wave

United States 20 May

Oil Jumps to $112 Before Trump Delays Iran Strike

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