(By Oil & Gas 360) – The global petrochemical industry is entering a different phase, one where growth is still happening, but the rules are changing underneath it. Capacity is expanding in some regions, demand is accelerating in others, and geopolitics is reshaping flows almost overnight. At the same time, companies are being forced to balance cost, resilience, and sustainability
(By Oil & Gas 360) – Latin America is moving back into focus for oil and gas investors. Not because it’s new, but because it offers something increasingly hard to find: resource depth, near-term production potential, and geographic diversification in a more fragmented global market. From Brazil’s deepwater fields to Guyana’s rapid rise, and from Argentina’s shale to Venezuela’s reopening,
(Oil Price) – Japan is readying a $10-billion financial support package for Southeast Asian economies to help them procure crude oil amid the supply shock from the Middle East, Japanese news outlet NHK reports. Japan’s Prime Minister Sanae Takaichi is set to unveil the package on Wednesday at an online summit meeting of the Asia Zero Emission Community plus, or
(World Oil) – Transocean has secured a long-term contract extension with Petrobras for its ultra-deepwater drillship Deepwater Corcovado, adding approximately $445 million to the company’s backlog. The 1,156-day extension will begin in direct continuation of the rig’s current work offshore Brazil and is expected to keep the drillship contracted through November 2030. The award reflects continued demand for high-specification ultra-deepwater drilling capacity in Brazil’s
(Oil Price) – An analysis by The Guardian has revealed that the world’s largest Oil & Gas companies, as well as major oil producers such as Saudi Arabia and Russia, will make an extra $234 billion in windfall profits by the end of the year if oil prices continue to average $100 per barrel. According to the exclusive report,
(BOE Report) – Canadian oil and gas producers are benefiting from the surge in commodity prices driven by the Middle East war, but they say it’s not changing their investment plans in the near-term. The chief executive at oilsands giant Cenovus Energy says it’s too early on in the crisis to know what the enduring changes to the market are
(World Oil)– The Permian basin continues to reinforce its position as the lowest-cost U.S. shale play, with an estimated 55,000 drilling locations capable of breaking even below $50/bbl, according to new analysis from Enverus Intelligence Research (EIR). The estimate represents roughly 10% year-over-year growth, driven by ongoing resource delineation, improved well performance and continued cost efficiencies. The sub-$50/bbl inventory is
(Investing) – SINGAPORE/LONDON – The first full day of a U.S. blockade on vessels calling at Iranian ports made little difference to Strait of Hormuz traffic on Tuesday, with at least eight ships including three Iran-linked tankers, crossing the waterway, shipping data showed. U.S. President Donald Trump announced the blockade on Sunday after weekend peace talks in Islamabad between the U.S.
Weekly Crude Oil Storage as of April 10, 2026 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.9 million barrels from the previous week. At 463.8 million barrels, U.S. crude oil inventories are 1% above the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
