Goldman keeps Brent oil forecast, but flags downside risks to demand
(BOE Report)– Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks
Goldman keeps Brent oil forecast, but flags downside risks to demand
(BOE Report)– Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent
bp hits oil at deepwater Brazil exploration well
(World Oil)– bp today announced an oil and gas discovery at the
Venezuela’s oil exports fell 10% in July
(Oil Price)– Venezuela’s crude and fuel exports fell in July by some
Oil majors win $4.2 billion environmental dispute in Kazakh court
(World Oil)– Partners in Kazakhstan’s second-largest oil field won a case in
bp hits oil at deepwater Brazil exploration well
(World Oil)– bp today announced an oil and gas discovery at the Bumerangue prospect in the deepwater offshore Brazil. bp drilled exploration well 1-BP-13-SPS at the Bumerangue block, located in the Santos Basin, 404 km (218 nautical miles) from Rio
Venezuela’s oil exports fell 10% in July
(Oil Price)– Venezuela’s crude and fuel exports fell in July by some 10% from June to average 727,000 barrels per day (bpd), as Chevron and other partners of state oil firm PDVSA were waiting for U.S. authorizations to resume operations
Oil majors win $4.2 billion environmental dispute in Kazakh court
(World Oil)– Partners in Kazakhstan’s second-largest oil field won a case in a local court over environmental fine that could have exceeded $4 billion, the venture said. Kazakhstan previously sought to fine the Kashagan oil field venture partners for about 2.3 trillion
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Weekly Inventories
U.S. crude oil inventories increase by 7.7 million barrels
Weekly Crude Oil Storage as of July 25, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.7 million barrels from the previous week. At 426.7 million barrels, U.S. crude oil inventories are 6%
Weekly Gas Storage: Inventories increase by 48 Bcf
Natural Gas Inventories as of July 25, 2025 The EIA has released its natural gas inventory report, showing a net increase of 48 Bcf as of July 25, 2025. Working gas in storage was 3,123 Bcf as of Friday, July
U.S. rig count decreased by 2 is at 540
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 2 over last week, resulting in a total count of 540 rigs. Canada had an decrease of 5 over last week, resulting in a total Canadian count of
