Oil & Upstream

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

Canadian Oil Sands Maintenance to Squeeze US Refiner Supply in September

Oil's muted response to the July 9 Iran strikes leaves Brent's recovery on uncertain footing

Sinopec Approved for $6 Billion Uzbekistan Project as China Builds Central Asian Energy Base

BP's North Sea exit accelerates as O'Neill pushes $20bn divestment target

Bessent Puts China on Notice Over Iranian Crude as Brent Closes at $94

Gasoline Holds Near Record as Refined Fuels Resist Crude's Ceasefire Retreat

Equinor Enters Namibia as Data Centre Expansion Tests Coal Phase-Out Targets

OPEC Restores Iraq Quotas But Output Gap Cannot Be Fixed With Allocations

U.S. Crude Draw and Hormuz Stall Support WTI But Demand Doubts Limit the Rally

Brent at $94 Leaves Asia's Distillate Markets Squeezed Despite Crude Import Recovery

Three signals oil traders are discounting on Iran's crude return

Record North Sea Decommissioning and Declining Output Test Pending Supply Boost Claims

United Kingdom 21 Aug

Russia Captured a Record 50.83% of India's Oil Imports in July as US Tariff Threats Grow

Opinion: OPEC Reads Diesel While the Agencies Count Totals

IEA Puts a Ceiling on China's Oil Demand Growth as Agency Forecasts Diverge

Tajikistan Triples Non-Russian Fuel Imports as Moscow's Refinery Losses Deepen

US Strategic Petroleum Reserve Hits 43-Year Low as Iran Peace Deal Collapses

US Strategic Petroleum Reserve 21 Aug

Oil market is pricing covert Hormuz flows it cannot verify

Strait of Hormuz 21 Aug

BP Governance Crisis Claims Its Chairman, Leaving North Sea Sentiment Bearish and Leadership in Flux

Dangote Offers East Africa 30% Stake in Planned Kenya Mega-Refinery

U.S. Debt Tops $40 Trillion as Shale Majors Cut Spending

United States 21 Aug

IEA Data Shows Emerging-Market EV Sales Doubled in Q2 as Middle East Oil Shock Reshapes Demand

OPEC's July output hike masks a collapsed production base as Gulf export cuts bite

UK Treasury's North Sea Drilling Plan Vetoed by Energy Secretary as New PM Faces Supply Choice

United Kingdom 21 Aug

IRENA: Over 90% of new renewables beat fossil fuel costs as $5.5 trillion grid gap widens

Clean energy investment hits record $2.2 trillion as Iran war reshapes global power balance

Iran's floating crude backlog grows as US sanctions squeeze China pipeline

Indian Refiners Pay Steep Premiums as Russian Discounts Vanish

Oil and Fed Expectations Keep US Yields Elevated as Iran Conflict Complicates Inflation Path

United States 20 Aug

Iran Negotiates Oil Transit Deals With Iraq and Tajikistan to Sustain Exports

Japan's July Crude Imports Jump 27.8% as Supply Diversification Gathers Pace

U.S. Diesel Exports Hit Record as Wholesale Price Touches $180 a Barrel

United States 20 Aug

Exxon and Chevron's $26.5 Billion Quarter Puts AI Energy Demand in the Frame

ExxonMobil 20 Aug

Trafigura Copper Deliveries Unwind LME Squeeze as Backwardation Collapses

Trafigura 20 Aug

India's Rupee Faces Dollar Squeeze as Brent Holds Near $91 and RBI Closes Swap Facility

China's Electric Freight Surge and Xinjiang Coal Push Seaborne Crude Imports Lower

ConocoPhillips Takes 42% of BP's Kirkuk Unit as Iraq Restarts Ceyhan Exports

ConocoPhillips 20 Aug

ConocoPhillips Takes a 42% Kirkuk Stake as Iraqi Export Recovery Stays Incomplete

ConocoPhillips 20 Aug

Distillate Stocks and SPR Drawdowns Undercut WTI's Bearish Consensus

New Zealand’s EnZed Wins First Offshore Permit as Election Threat Looms Over Reopening

Australia 20 Aug

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