Doubts about oil demand growth will persist beyond 2024, and fears of a price slump will be there to keep them company. That’s according to some recent predictions about the state of the oil market in 2025, which see demand growing, China directing the market, and OPEC still likely to unwind its production cuts.
Back in February, leading energy information company, Energy Intelligence, reported that interest in long-term LNG projects remains robust despite the Biden administration pausing new licenses for LNG export projects still in the planning pipeline.
European countries are ramping up sanctions pressure on Russia as they look to reduce Vladimir Putin’s oil revenues that fund the war in Ukraine.
Dozens of kilometers of Black Sea coastline in Russia’s Krasnodar region have been covered in heavy fuel oil, local authorities and residents reported on December 17, after two oil tankers were heavily damaged during a storm in the Kerch Strait.
Crude oil prices ticked higher today after the U.S. Energy Information Administration reported an inventory decline of 900,000 barrels for the week to December 13.
Germany’s natural gas demand rose by 3.3% in 2024, due to lower prices compared to last year, preliminary estimates by the association of the German utilities, BDEW, showed on Wednesday.
Talos Energy will sell an additional 30.1% interest in Talos Mexico to an entity majority-owned by Mexican player Grupo Carso, the US E&P company said on Wednesday.
Woodside Energy Group Ltd. and Chevron Australia Pty. Ltd., an indirect subsidiary of Chevron Corp., have entered an agreement to swap assets including the Wheatstone and North West Shelf (NWS) gas projects in Western Australia.
In an oil and gas report sent to Rigzone by the Macquarie team late Wednesday, Macquarie strategists said it appears to them that the oil market “is reviewing 2025 balances and becoming incrementally less bearish”.
Oil rose as strong US crude exports signaled firm global demand before paring gains after the Federal Reserve reduced the number of rate cuts it expects to make next year.