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Russia became the biggest supplier of natural gas to Europe last month, for the first time since 2022, replacing the United States at the top spot. “It’s striking to see the market share of Russian gas and [liquefied natural gas] inch higher in Europe after all we have been through, …

In the 1990s and 2000s, the world regularly saw column inches devoted to the theory of peak oil supply, amplified by voices like Colin Campbell and Matthew Simmons. Decades later, however, it has still not come to pass, as enhanced economics and constant improvement in technology have helped lower costs …

US oil imports from Iraq increased last week, according to data released by the US Energy Information Administration (EIA) this weekend. The EIA’s weekly petroleum status report showed that US crude oil imports from nine major suppliers averaged 6.120 million barrels per day (bpd) last week, up by 363 thousand …

China’s decades-long boom in oil processing could falter this year in a blow to global demand and the aspirations of OPEC+ producers seeking to return supply to the market, reports Bloomberg. Oil refining in the world’s top crude importer is expected to be flat or fall for the first time …

The European Union is proposing to sanction Russia’s oil-shipping giant Sovcomflot PJSC (FLOT.MM) in a move to limit the Kremlin’s ability to finance its war against Ukraine, Bloomberg News reported this week, citing a document seen by it. The move would follow similar punitive measures imposed on the leading Russian …

Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC. By late 2014, as U.S. oil production …

In a recent meeting with House Republicans, former President Donald Trump declared his intention to completely reverse President Joe Biden’s electric vehicle (EV) policies if he is re-elected. Trump criticized the current administration’s push towards battery-powered cars, describing the mandate as “crazy,” according to Idaho Representative Russ Fulcher. He emphasized …

Russia will reach its oil production quota in June after exceeding its target output under the OPEC+ deal in May, the Russian Energy Ministry said on Thursday. Russia slightly exceeded its OPEC+ quota in May, based on data from independent sources monitoring the agreement, the ministry said, adding that “the …

Abu Dhabi’s national oil company ADNOC has taken the final investment decision to move forward with the Ruwais LNG project, which will more than double the existing LNG production capacity in the United Arab Emirates. ADNOC took on Wednesday the FID for the Ruwais LNG project, which will consist of …

Chinese crude oil imports over the first five months of the year were down by 130,000 bpd from a year earlier. In any other country, this would have been business as usual. In China, it may spell doom for prices. The world’s biggest importer of crude is the logical focus …