Thursday, June 18, 2026

Bahrain says new discovery contains an estimated 80 billion barrels of tight oil

From Reuters A new discovery off the coast of Bahrain is estimated to contain at least 80 billion barrels of tight oil, the kingdom’s biggest ever find, Bahrain’s oil minister said. Bahrain said on Sunday it had discovered extensive tight oil and deep gas resources off the west coast of the kingdom. Independent appraisals by U.S.-based oil consultants DeGolyer and

Weekly Oil Storage: Draw Resumes

The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week. Crude oil stocks fell by 4,617 MBBL last week to 425,332 MBBL, from 429,949 MBBL. This is 21% below the 535,543 MBBL that was in storage at this point last year, and is 2% below the five-year