U.S. Energy Secretary Chris Wright this week said that the oil exports from the Middle East have rebounded to 15 million barrels per day (bpd) and even topped the pre-war average of 20 million bpd on Sunday.
Vessel-tracking services and commodity analysts are baffled and struggling to reconcile these numbers with their observations of tanker loadings and traffic in the region.
Iran said Tuesday that the Strait of Hormuz will remain closed unless the United States ends the war and meets Tehran’s conditions, raising the bar for a deal that would restore more oil traffic through the key waterway.
Decades of investment in U.S. oil and natural gas production, refining and infrastructure have positioned the United States to play a stabilizing role during recent global energy market disruptions, according to a new analysis released by the American Petroleum Institute (API).
Oil fell after both the U.S. and Iran signaled that discussions to restore shipping through the Strait of Hormuz are ongoing, raising hopes for a pickup in supply from the Middle East.
A consortium of U.S. and Saudi companies is set to build a new refinery in the Persian Gulf despite the current situation in the region. The facility will have a price tag of $5 billion and a capacity of 200,000 barrels of crude oil daily. The consortium, dubbed MERA Oil, includes Texas-based MWG Group, the […]
Prime Minister Mark Carney rejected the notion that Canada should curb the supply of vital resources to the U.S. to retaliate against tariffs, arguing that it’s more important for the country to keep its reputation as a dependable producer.
Baker Hughes has secured a major order from Venture Global LNG to supply liquefaction technology for the CP2 LNG expansion project in Louisiana, further strengthening the companies’ long-standing partnership in U.S. LNG development.
The U.S. Energy Information Administration (EIA) raised its U.S. crude oil production forecast for 2026 in its latest short term energy outlook (STEO), which was released earlier this month.
Oil prices remained elevated Tuesday after President Donald Trump abandoned plans to impose a 20% transit fee on cargo moving through the Strait of Hormuz, while the U.S. intensified pressure on Iran by resuming its shipping blockade and launching a new round of military strikes.
During President Donald Trump’s first term, the U.S. Bureau of Land Management approved a plan to make 725,500 acres of federal public lands and mineral estate available for oil and gas leasing in the Bay Area and Central Coast. The counties of Monterey and Santa Cruz, alongside environmental groups, argued the decision failed to consider meaningful alternatives and disclose environmental impacts, leading to a lawsuit in 2020.