Oil & Upstream

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

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

ULSD Heating Oil Stalls Near $4.44 as OPEC+ Supply Hikes and Hormuz Risk Build Bearish Pressure

Rystad Cuts Russian Crude Outlook as Refinery Runs Hit Two-Decade Low

ULSD Heating Oil Gains Monday as Persian Gulf Supply Risks Stay Unresolved

Oil bears priced IEA's demand cut but may be underweighting its 4.3 million bpd supply disruption call

China July Data Misses Drag Brent Lower as Import Rebound Complicates the Demand Picture

Iran's crude shipments are running ahead of what the oil market expected

ONGC Secures U.S. Sanctions Waiver to Resume Venezuela Oil Operations

United States 17 Aug

Big Oil's $93 Billion War Windfall Is Being Spent More Cautiously Than the Headlines Suggest

OPEC+ July Output Surge Masks a 6.3 Million Barrel-Per-Day Gap as Hormuz Trade Slowly Restores

Strait of Hormuz 17 Aug

Occidental Posts 823% Earnings Jump on Q2 Oil Spike as Crude Prices Retreat

Occidental Petroleum 17 Aug

China Sells Iran Crude to Rebuild Reserves as EV Surge Compresses Baseline Oil Demand

Lithium Americas Draws First $435m From DOE Loan as Trump Mineral Bets Pile Up

United States 16 Aug

Record North Sea Decommissioning Spend Fails to Dent the £40 Billion Liability

United Kingdom 16 Aug

China's Strategic Oil Reserve Cushioned the Hormuz Shock as the US SPR Hit a 1983 Low

Strait of Hormuz 16 Aug

Cameco Holds 2026 Uranium Output Guidance After McArthur River Flooding Cuts Transport

ADNOC Extends Its Hormuz Shuttle Service to Iraqi Crude as Baghdad Claims Export Surge

Strait of Hormuz 16 Aug

BP's North Sea Exit Forces Burnham's Hand on Rosebank and Jackdaw

Shell Loses Five-Year Legal Fight Over South Africa Wild Coast Drilling Rights

Crude oil's disruption arithmetic points to more upside than the bearish consensus has priced in

Transformer Oil Market Set to Hit $5.4 Bn by 2033 as Grid Buildout Strains Specialty Supply Chains

United States 16 Aug

ULSD Heating Oil Holds at $4.28 With Storage-Driven Bearish Signals Capping Gains

Ukrainian Strikes Hold Russian Refinery Throughput at 21-Year Low, Squeezing Global Diesel

Saudi Aramco Delays Jazan Restart to Late August After Second Houthi Strike

Saudi Aramco 15 Aug

PetroGuin and Tender Oil & Gas Plan Integrated Guinea-Bissau Energy Platform

Trump Administration Weighs U.S. Oil Export Ban as Domestic Fuel Prices Stay Elevated

United States 15 Aug

Russia's Energy Revenues Fell 9 Percent in the First Seven Months of 2026

Hormuz Closure Puts US West Coast Refiners in Competition for Pacific Crude

Strait of Hormuz 15 Aug

Saskatchewan uranium mines win federal approval as global supply stays tightly concentrated

Wood Mackenzie sees peak energy demand by 2035 as fertility decline reshapes consumption

Opinion: Saudi Aramco Reroutes Crude Around Africa as Bab el-Mandeb Shuts Down

September WTI Crude Recovers to $82 as Hormuz Export Volumes Lag the Futures Rebound

Iran Deadlock Puts Oil on Track for 4% Weekly Gain

ASX battery derivatives offer spread hedging as NEM storage fleet expands

Australia 14 Aug

ADNOC Captures Asian Market Share as UAE Moves Past OPEC Constraints

ADNOC Claims 32% of Middle Eastern Oil Flows to Asia as UAE Output Surges Past Old OPEC Limits

UAE Tanker Queue Extends to Malaysia as ADNOC Sells 130 Million Barrels in Seven Tenders

Alunorte Output Cut Sends LME Aluminum to Seven-Week High as Exchange Stocks Hit 36-Year Low

Iran supply licence and record US output threaten to cap the war-driven oil premium

WTI Bears Miss U.S. Physical Tightness as Hormuz Flows Stay Stalled

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