(Oil Price) – The world’s biggest private equity groups are investing in infrastructure assets of the national oil companies of the Middle East as Saudi Arabia and the United Arab Emirates (UAE) opened their pipeline networks to foreign capital. Private equity giants are now seeking a slice of the infrastructure assets of the international majors in deals that would give Big
(World Oil) – Aramco has begun gas production from the first phase of its Jafurah development, marking a major step in Saudi Arabia’s push to scale unconventional resources and expand domestic gas supply. According to Reuters, the milestone was disclosed in the Saudi Ministry of Finance’s 2026 budget statement, which listed the start-up as a key 2025 achievement. Jafurah is considered the
(Oil Price) – U.S. coal-fired power generation is set to rebound in the winter months as surging natural gas prices prompt utilities to switch from gas to using more coal. U.S. benchmark natural gas prices at Henry Hub have jumped from $4.23 per million British thermal units (MMBtu) at the start of November to nearly $5 per MMBtu by early December. Early on
(BOE Report) – Venezuela’s oil exports rose slightly to some 921,000 barrels per day (bpd) in November, the third-highest monthly average so far this year, as the country used more diluents to produce exportable grades, according to shipping data and documents. The OPEC producer is under increasing political pressure from the U.S., which has struck a score of alleged drug-smuggling
(World Oil) – Reconnaissance Energy Africa (ReconAfrica) has confirmed hydrocarbon pay at its Kavango West 1X exploration well on Petroleum Exploration Licence (PEL) 73 in northern Namibia, advancing early appraisal of the emerging Damara Fold Belt play. The well—drilled to a total depth of 4,200 m—encountered approximately 400 m of gross hydrocarbon-bearing interval within the Otavi carbonate section, including 64
(Investing) – Oil prices rose Wednesday, bouncing after the previous session’s losses, as high-level U.S.-Russia talks failed to reach a breakthrough in ending the war in Ukraine. At 08:05 ET (13:05 GMT), Brent Oil Futures expiring in February rose 1.1% to $63.15 per barrel and West Texas Intermediate (WTI) crude futures gained 1.3% to $59.38 per barrel. Both contracts slipped more than 1% on Tuesday.
Weekly Crude Oil Storage as of November 28, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week. At 427.5 million barrels, U.S. crude oil inventories are 3% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
