Oil & Upstream

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

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

Projectile Strike on Kuwait Tanker in Hormuz Keeps ICE Brent Above $91

Crude inventory builds mask a deepening product deficit and a shrinking SPR cushion

US Strategic Petroleum Reserve 19 Aug

Trident's 37% output gain from West African assets puts technical operators back in focus

Petronas Ships Fuel Oil to U.S. West Coast in First Such Run in Three Years

Petronas 19 Aug

NexGen Breaks Ground on Saskatchewan Uranium Mine That Could Rank Among World's Largest

Russia Bars Anti-War Opposition From Elections as Baltic Port Strikes Drain Oil Revenue

Trump's $4B Offshore Wind Buyouts Redirect Capital Toward Oil and Gas

Pentagon's Munitions Rebuild Stalls on Two-Supplier Rocket Motor Market

United States 19 Aug

Brent's pullback from $100 masks an unresolved Hormuz bypass shortfall

Suezmax Skiros Struck After Loading at CPC Novorossiysk Terminal, Sources Say

Peter Thiel Buys Into Vista Energy as Vaca Muerta Draws Wider Capital

United States 18 Aug

Hormuz Tanker Traffic Slows Further as Oil Posts 5% Weekly Gain

Strait of Hormuz 18 Aug

Crude Bears Pricing Out Hormuz Risk May Be Running Ahead of EIA Signals

Strait of Hormuz 18 Aug

Iraq Eyes Kurdish Pipeline Route as Hormuz Closure Forces Crude Reroute

Strait of Hormuz 18 Aug

Chevron Finds More Than 2,000 Feet of Pay in Angola Block 0 Exploration Well

Eni and XRG File for Argentina's 30-Year Incentive Protection on 12 MMtpa Vaca Muerta LNG Plan

Towngas targets construction sites and data centres for next hydrogen push

Costain's Northern Endurance Contract Drives 25.7% Energy Revenue Rise as CCS Delivery Gap Widens

Citi's $80 Brent Forecast Sits Well Below Spot as War Premium Consensus Hardens

Record US Crude Output Meets Volatile Gulf Flows as IEA Projects 1.8 Million Bpd Deficit

Brent at $91 in August as Rystad's $180 Hormuz Scenario Falls Short

Brent Rebounds to $91 as OPEC and IEA Issue Conflicting Demand Forecasts Amid Hormuz Disruption

Chevron and ConocoPhillips Trim Capex 10% as Occidental Cuts Permian Spending by Up to a Fifth

Gold and Brent Crude Fall Together on 2026-08-18, Breaking a Month-Long Inverse Pattern

Oklo's Record-Speed Reactor Build Stops Well Short of Commercial Grid Power

United States 18 Aug

Libya's NOC Sets 2 Million bpd Goal as Pipeline Cost Estimates Climb Past Official Figures

IEA and EIA Forecasts Show 2026 Oil Demand Contracting as OPEC Holds to Growth Outlook

Diesel margins signal a tighter oil market than the ceasefire trade implies

Goldman's $80 Brent Target Assumes a Hormuz Deal; Traders Are Still Waiting for One

Russian enriched uranium reaches Westinghouse US facility as 2028 ban clock runs

Centrus Signs HALEU Deal With X-energy as Xe-100 Fuel Supply Chain Starts to Form

United States 18 Aug

Xinchao Energy keeps D+ ESG rating on London Stock Exchange, ranking 22nd of 23 in oil and gas peer group

Peter Thiel's Vista Stake Lifts Argentine Shale Shares

Argentina 18 Aug

Iraq and Turkey's One-Year Pipeline Fix Leaves KRG Revenue Dispute Unresolved

US crude exports to Asia may have peaked in May as Japan's supply crisis deepens

United States 18 Aug

Oil markets are desensitizing to Iran headlines just as demand risks accumulate

S&P Global Cuts H2 2026 Refinery Run Forecast by 2.4 Million Barrels Per Day as Processing Shortfall Deepens

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