Iraq’s crude oil exports to the U.S. has trumped those from Saudi Arabia last week, despite a marginal decline in the rate of supply, data by the Energy Information Administration (EIA) showed on Sunday. Drawing on a recent data chart, the EIA illustrated that the average daily crude oil imports …

The total number of active drilling rigs in the United States fell by 12 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 652 this week. So far this year, Baker Hughes has estimated a loss of 136 active drilling rigs. This …

In the first half of 2023, China’s intake of refined copper saw the biggest drop in four years. The news underscores the current deceleration of the nation’s manufacturing sphere. China is one of the world’s largest buyers of refined copper. Still, it seems the country’s appetite for imports is waning. …

Iraq ranked fifth among the world’s top 10 oil-producing countries in 2022, as revealed by Italian oil company Eni. Eni’s data showed that Iraq stood at the fifth spot as a top global oil producer, churning out 4.554 million barrels, with a compound growth rate of 5.4%. This marks an …

European natural gas futures headed for a third weekly gain as concerns over potential strikes in Australia inject renewed volatility into the market. The possibility of walkouts at three liquefied natural gas facilities operated by Chevron Corp. and Woodside Energy Group Ltd. has taken center stage in recent days, as …

China urged Japan again Thursday to stop the ocean discharge of treated nuclear waste from the crippled Fukushima power plant. “The legitimacy and safety of Japan’s ocean discharge plan have long been questioned by the international community,” said Foreign Ministry spokesman Wang Wenbin, who urged Tokyo to engage in “honest …

Refiners in China processed and imported record volumes of crude oil in 1H23, sourcing much of the additional crude oil runs from Russia, Iran, Brazil, and the US. These increases, sparked by China’s initiatives to ease COVID-19 mobility restrictions and reopen its economy, are a return to a more than …

Oil and gas analysts are anticipating a bounce back in exploration spend from the historic lows of recent years. Investment, excluding appraisal, is expected to average $22 billion per annum in real terms up to 2027, according to a new report from Wood Mackenzie. Driving the looming increase is tailwinds …

The discount of Russian oil exported to India has tightened considerably, from some $30 to Brent crude last year to as little as $4 per barrel, Eurasia Daily Monitor has reported, adding that shipping costs, on the other hand, have increased. Per the agency, the shipping costs per barrel of …

Saudi Arabia’s crude oil exports dropped in June to the lowest level in 21 months, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. The Kingdom, the world’s top crude oil exporter, shipped 6.80 million barrels per day (bpd) of crude in June, down by 124,000 …