Oil

The US Energy Information Administration (EIA) revealed on Sunday that Iraq exported more than six million barrels of oil to the United States in January 2025. The EIA mentioned that Iraq’s crude oil exports to the United States reached 6.23 million barrels in December, less than the country’s oil exports …

China aims for stable crude oil production above 200 million tons in 2025, the National Energy Administration (NEA) said on Thursday. In 2024, China’s total oil and gas output exceeded 400 million tons of oil equivalent for the first time, playing a “ballast” role in ensuring the stable production, supply …

OPEC’s oil production declined in January for a second consecutive month amid lower output from Iran and Nigeria, according to the monthly Reuters survey published on Wednesday. Last month, all 12 OPEC producers saw their combined output drop by 50,000 barrels per day (bpd) from December to 26.53 million, according …

International oil and gas prices will see a limited short-term impact from President Trump’s new tariffs on Canada, Mexico, and China, according to Goldman Sachs. On Saturday, the U.S. Administration announced that additional tariffs would be implemented on February 4 on these countries. Canada and Mexico face 25% tariffs, with …

Crude oil demand will remain at current levels over the next 15 years at least, commodity trading major Vitol has forecast, shattering earlier predictions from outlets such as the International Energy Agency that has consistently been predicting peak oil demand growth before 2030. Demand for crude is set to rise …

Oil advanced as US President Donald Trump placed hefty tariffs on a range of imports, including crude from Canada and Mexico, threatening higher costs for American consumers. US marker West Texas Intermediate (WTI) jumped as much as 3.7 per cent before paring about half of those gains to trade near …

Goldman Sachs analysts predict Brent crude prices could temporarily surge to $93 per barrel if sanctions successfully curb oil exports from Iran and Russia by a combined 1 million barrels per day (bpd). In a note shared by Zerohedge on X, the bank outlined a scenario where Iran faces persistent …

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday, after a 4-rig drop in each of the two weeks prior. The total rig count rose by six rigs, to 582, according …

Trade in Russian crude loading for Asia in March has come to a screeching halt as tanker rates are soaring and shippers are scrambling for non-sanctioned vessels following the latest U.S. sanctions on Russia’s oil supply, Reuters reports, citing shipping data and trade sources. The Biden Administration’s farewell sanctions on …

Oil prices slipped on Monday after US President Trump called on OPEC to reduce prices following the announcement of wide-ranging measures to boost US oil and gas output in his first week in office. Brent crude futures dropped 53c, or 0.68%, to $77.97 a barrel by 4.30am GMT after settling …