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Saudi Arabia has long prided itself on being the lowest-cost oil producer in the world—and has taken maximum advantage of this fact. Now, with ambitious spending plans for a diversified economy, that lowest cost is becoming less relevant. It’s the breakeven cost of oil that matters. And that’s going up. …

The OPEC+ group will begin adding supply to the market in 2025, for the first time since 2022, Jim Burkhard, vice president of research at S&P Global Commodity Insights, said at the Asia Pacific Petroleum Conference (APPEC) on Monday. “We think in 2025 for the first time in a couple …

Just two weeks after lowering its Brent oil price estimate to $80 per barrel for the fourth quarter, Morgan Stanley cut again its forecast, now expecting the international benchmark to average $75 a barrel in the last quarter of the year. Analysts at Morgan Stanley see rising headwinds on the …

China’s oil demand growth has been slowing down due to weaker economic performance and a shift to electric vehicles and LNG-fueled trucks, oil industry executives said at the APPEC conference in Singapore on Monday. Right now, Chinese oil demand growth has slowed to about 200,000 barrels per day (bpd) each …

As we go into a new nuclear energy era, there are renewed concerns about what to do with the waste generated from nuclear plants. Nuclear waste is toxic and can remain radioactive for around 10,000 years, meaning that it needs to be disposed of appropriately to ensure people and the …

Oil trading giants and the national oil companies of some of the Middle East’s biggest oil producers are in the race to buy Shell’s South African service stations as they look to expand their access to downstream assets. The world’s largest oil firm and oil exporter, Saudi Aramco, the national …

Iranian Ambassador to Russia Kazem Jalali says that Russia’s investment in Iranian oil fields is among the areas of energy cooperation between Tehran and Moscow. “We are cooperating with our Russian partners in the energy sector. First, there are investments by the Russian side in Iranian oil fields. We are …

The US Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the US had risen during the past week. “In a span of a week, the US imports of crude oil from nine major countries amounted to 4.876 million bpd, down by 732,000 bpd from the previous …

Oil posted its biggest weekly drop in 11 months as a weak US jobs report added to concerns about tepid demand in the world’s largest consumer of crude. West Texas Intermediate fell 2.1% to settle at $67.67 a barrel, cementing the biggest weekly plunge since October 2023. While the US …

In addition to the most popular renewable energy sources – solar and wind power – several countries are investing in the development of their hydropower capacity as they look to diversify their energy mix in pursuit of greater energy security. The hydropower market is valued at an estimated $251.58 billion …