Oil & Upstream

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

Miliband veto of Treasury drilling plan exposes UK North Sea policy fault line

United Kingdom 14 Aug

Iran Hardens Hormuz Conditions, Extending Oil Supply Loss Beyond One Billion Barrels

Strait of Hormuz 14 Aug

IEA Raises 2026 Oil Supply Shortfall to 1.27 Million Bpd as Hormuz Flows Stall

Strait of Hormuz 14 Aug

Long-end Treasury yields approach 5% as oil above $100 inflates US deficit pressure

United States 13 Aug

Diesel Futures Diverge from Crude as Refinery Damage Deepens the Product Shortfall

Oil Drops $11 from July Peak but Inventory Buffer Nears Its Limits

Russia's Refinery Crisis Forces Fuel Imports From India as Global Product Trade Collapses

Russia's Diesel Exports Fall to 80,000 bpd as Refinery Damage Compounds

NSTA signals North Sea drilling ahead as BP weighs exit from UK basin

IEA Cuts 2026 Oil Supply Forecast Again as Hormuz Keeps Market in Deficit

Strait of Hormuz 13 Aug

ADNOC Sustains Crude Tenders as Hormuz Transits Stall at 27 Vessels Per Day

Strait of Hormuz 13 Aug

Alberta's Pacific Corridor Plan Gains Steam as Ontario Pushes Sovereign Route to Sarnia

Nigeria's $50 Billion Offshore Gambit Collides With OPEC+ Quota Politics

Kansas Fed Chief Says Hormuz Oil Shock May Entrench Inflation Above 2% Target

Strait of Hormuz 12 Aug

TotalEnergies Buys CPC Blend at Widest Discount Since January 2025 as Black Sea Drone Attacks Drive Freight to Record

TotalEnergies 12 Aug

US Strategic Reserve Falls to 1983 Low as Brent Trades Near $89

U.S. Crude Stocks Post Surprise 2.7-Million-Barrel Build, Raising Oversupply Concerns

United States 12 Aug

OPEC+ Completes September Quota Hike and Freezes Targets Through January

US Emergency Oil Buffer at 45-Year Low as Markets Absorb Iran Swings

United States 12 Aug

ICE Brent eases below $90 as supply-side signals challenge the geopolitical bid

Trump Extends Jones Act Waiver 90 Days With Narrowed Scope as Iran Disruption Lifts US Fuel Costs

Libya's NOC Targets 2 Million Bpd by Early 2030s Backed by $2 Billion State Budget

Iran's six-demand ultimatum draws muted crude response as IEA reserves and Iranian export data cap the rally

Santos Reaches Continuous Production at Pikka, Adding 20,000 bpd to Alaska North Slope

Houthis Strike ADNOC Tanker and Jazan Refinery as Brent Climbs Back Toward $90

BP Drops North Sea Business Citing Value Over Legacy as Portfolio Overhaul Accelerates

ConocoPhillips Enters Kirkuk as Iraq's Pipeline Deal Buys Time Until 2027

ConocoPhillips 11 Aug

Colombia's New Government Targets $7 Billion Upstream Revival as Import Dependence Surges

Colombia 11 Aug

Aramco Cuts September Arab Light Price for Asia as Hormuz Deal Hopes Weigh on Oil

Strait of Hormuz 11 Aug

Washington's Scandium Bet Puts a 25-Year Frame on a War Oil Traders Are Pricing as Short-Term

Australia 10 Aug

Venezuela Rare Earth Push Stalls on Missing Processing Infrastructure

Venezuela 10 Aug

Cameco Delivery Risks Weigh on Uranium Stocks Despite Tripling Q1 Earnings

AEC Backs Venezuela Upstream Opening as Execution Risks Mount

Venezuela 10 Aug

Refining Margins at Generational Highs as Asian Refinery Throughput Lags Crude Recovery

Jackdaw Consultation Closes as Burnham Weighs a Field Worth 6% of UK Winter Gas Demand

United Kingdom 10 Aug

China Tapped 41 Million Barrels of Reserves in June to Outlast the Hormuz Supply Shock

Strait of Hormuz 10 Aug

ADNOC Gas Commits $8.2 Billion to Rich Gas Project Targeting 60% EBITDA Growth by 2030

EU Crude Import Bill Hit €212 Billion in 2025 as Gas Dependency on Russia Persists

ConocoPhillips Qatar Output Falls 4% as Middle East Conflict Cuts Into Upstream Results

ConocoPhillips 10 Aug

BP North Sea Exit Reflects Basin Cost Problem, Analyst Says

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