(BOE Report) – Bank of America on Wednesday said that if U.S.-China trade tensions intensify while OPEC+ production ramps up, Brent prices could slip below $50 a barrel. The bank maintained its Brent forecast at $61 a barrel for the final quarter of 2025 and $64 a barrel for the first half of 2026, citing a likely floor around $55. “Looking
(Oil and Gas 360) – Energy Advisors released its 3Q A&D Special Report as a continuation of our thought leadership efforts. According to Brian Lidsky, Director of Energy Advisors, “following a volatile 2Q for oil & gas prices, 3Q stabilized with spot oil up 2% to $65.78 and spot gas dipping 2% to $3.03. P/E selling slowed to just 15% of deal value,
(World Oil) – Exxon Mobil Corp. Chief Executive Officer Darren Woods renewed criticism of the European Union’s energy policies while praising U.S. President Donald Trump’s approach. The Texas oil and gas giant is slowing investment in Europe and selling assets, with Woods describing the bloc’s climate and human rights regulations as “slowing things down and trying to over-prescribe unpractical” solutions.
(BOE Report) – The latest U.S. sanctions on a major Chinese crude oil terminal have forced refining group Sinopec to divert a supertanker and ask some plants to cut crude processing rates, according to ship tracking data and Chinese consultancies. A supertanker carrying oil to the Chinese port of Rizhao in Shandong province changed its destination over the weekend
(Oil Price) – Saudi Aramco can sustain its oil production at its maximum capacity of 12 million barrels per day (bpd) for a year without additional investments, Amin Nasser, the chief executive of the Saudi state oil giant said at the Energy Intelligence Forum in London on Monday. Concerns have emerged among analysts in recent weeks that the reversal of the OPEC+ cuts
(Investing) – LONDON -World oil supply is expected to closely match demand next year as the wider OPEC+ group increases production, an OPEC report showed on Monday, marking a change from last month’s outlook, which projected a supply shortfall in 2026. OPEC+ is adding more crude to the market after the Organization of the Petroleum Exporting Countries, Russia and other allies
(Oil Price)– China has formalized a barter-style framework with Iran in which crude oil is exchanged for infrastructure projects (from rail lines and ports to industrial works) rather than cash. The volumes involved are substantial: Beijing already imports an estimated 1.4 to 1.6 million barrels per day of Iranian crude, much of it under disguised labels. The new structure secures
(BOE Report)– The latest U.S. sanctions on Iranian petroleum exports deal a blow to Chinese refining giant Sinopec by targeting a terminal through which the state major handles one-fifth of its crude oil imports, industry executives and analysts said. The sanctions announced on Thursday further complicate U.S.-China relations, coming ahead of planned talks between Presidents Donald Trump and Xi Jinping
(Oil Price) – The administration of Venezuelan leader Nicolás Maduro has offered to open up Venezuela’s oil and gold projects to U.S. companies in an attempt to appease the Trump Administration and avoid conflict, the New York Times reported on Friday, quoting multiple sources close to the discussions. Over several months, officials of the Maduro regime have negotiated with U.S. officials offers of
This week’s Baker Hughes Rig Count shows that the U.S. decreased by 2 last week, resulting in a total count of 547 rigs. Canada had an increase of 3 over last week, resulting in a total Canadian count of 193 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Ardmore Woodford, the Cana Woodford, the Haynesville, and
(World Oil) – Sable Offshore Corp. is seeking the Trump administration’s help to jumpstart a California oil project stalled by red tape. The Houston-based company’s effort to tap hundred of millions of barrels of crude off the coast of Santa Barbara have been stymied by state regulators’ opposition to reopening pipelines that funnel the crude to refineries. If state approval
(Investing) – Canadian Prime Minister Mark Carney indicated on Friday that reviving the proposed Keystone XL oil pipeline from Alberta to the United States could help strengthen energy cooperation between the two countries. “There are many possible projects, including Keystone XL,” Carney stated during a press conference when discussing potential initiatives to enhance U.S.-Canada energy integration. When questioned about whether the
