Tight global inventories outweigh OPEC+ production increase, analyst says
(World Oil) – Tightening global oil inventories and continued geopolitical instability are expected to keep crude prices supported through August, even as OPEC+ moves to restore additional production, according to Tamas Varga, analyst at PVM Oil
Tight global inventories outweigh OPEC+ production increase, analyst says
(World Oil) – Tightening global oil inventories and continued geopolitical instability are expected to keep crude prices supported through August, even as OPEC+ moves to restore additional production, according to Tamas Varga, analyst at PVM Oil Associates, part of TP ICAP. Varga
Saudi oil reroutes hit capacity and security limits
(Oil Price) – When Iran shut down the Strait of Hormuz, Saudi Arabia
Petrobras confirms new deepwater gas discovery offshore Colombia
(World Oil) – Petrobras has confirmed a new deepwater natural gas discovery at the
War-fueled oil rally set to lift shale profits to highest since 2022
(BOE Report) – U.S. shale producers are expected to report their strongest
Saudi oil reroutes hit capacity and security limits
(Oil Price) – When Iran shut down the Strait of Hormuz, Saudi Arabia quickly redirected its oil flows to the Red Sea. Now, that route has become dangerous because of the Houthi blockade, so Saudi is rerouting to Egypt—and two LNG
Petrobras confirms new deepwater gas discovery offshore Colombia
(World Oil) – Petrobras has confirmed a new deepwater natural gas discovery at the Sandia-1 exploratory well in Colombia’s GUA-OFF-0 Block, further expanding the company’s growing offshore gas portfolio in the country. The Sandia-1 well, located approximately 42 km offshore in 1,251 m
War-fueled oil rally set to lift shale profits to highest since 2022
(BOE Report) – U.S. shale producers are expected to report their strongest quarterly profits since 2022 after the Iran war sent crude prices soaring, with analysts expecting much of the windfall to be returned to shareholders rather than spent on
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Weekly Inventories
U.S. crude oil inventories decrease by 7.2 million barrels
Weekly Crude Oil Storage as of July 24, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Weekly Gas Storage: Inventories increase by 28 Bcf
Natural Gas Inventories as of July 24, 2026 The EIA has released its natural gas inventory report, showing a net
U.S. rig count increased by 1, is at 588
This week’s Baker Hughes Rig Count shows that the U.S. increased by 1 last week, resulting in a total count
