Europe has overtaken Asia as the biggest buyer of U.S. crude oil, importing 213.1 million barrels over the first five months of the year, while Asia imported 191.1 million barrels, Bloomberg reported, citing Census Bureau data. This is the first time in six years that Europe has been a bigger …
Read More »White House Expects more Saudi Oil after Biden’s Visit
The U.S. said it expects further oil supply increases from Saudi Arabia after President Joe Biden met with Saudi Arabia’s Crown Prince Mohammed Salman. The White House on Friday welcomed the increase in production levels 50 percent above what was planned for July and August. It added these and other …
Read More »U.S. Rig Count Rises despite Chaotic Week in Oil Markets
The number of total active drilling rigs in the United States rose by 4 this week, according to new data from Baker Hughes published on Friday. The total rig count rose to 756 this week—272 rigs higher than the rig count this time in 2021. Oil rigs in the United …
Read More »EIA: U.S. Imported +8 Million Oil Barrels from Iraq in June
U.S. crude oil imports from Iraq averaged 273 thousand barrels per day (bpd) in June, the Energy Information Administration (EIA) said in its monthly report. According to the report, June imports from Iraq amounted to 8.19 million barrels, down from 9.114 million barrels (average 294 thousand bpd) in May. Iraq’s …
Read More »Number of Active US Drilling Rigs Up this Week
The number of active drilling rigs in the United States increased to 752 this week, up by two from the previous week and 273 from this time last year, according to the weekly data released Friday by Houston-based oilfield services company Baker Hughes. These active drilling rigs included 597 oil …
Read More »Iran FM: US Has to Choose between Nuclear Deal, Unilateral Demands
The Iranian foreign minister says if the United States wants a lasting nuclear agreement with Iran, it has to stop insisting on its unilateral demands. Hossein Amirabdollahian wrote on his twitter account on Tuesday that he spoke with the EU Foreign Policy Chief Josep Borrell on the phone discussing the …
Read More »USA Sending more Gas to Europe than Russia
For the first time, the US is supplying more natural gas to Europe than Russia sends by pipelines, according to the International Energy Agency. Europe is seeking alternatives such as US liquefied natural gas to Russian supplies after Gazprom PJSC slashed shipments through Nord Stream, its biggest pipeline to Europe, …
Read More »U.S. Supplies more Gas to Europe than Russia for the First Time
For the first time, the U.S. provided more liquefied natural gas (LNG) to Europe than Russia sends by pipelines, according to the latest data released by the International Energy Agency (IEA). Russia ships about 150 billion cubic meters of gas to Europe via pipelines every year, and another 14 billion …
Read More »U.S. Rig Count Slips
The number of total active drilling rigs in the United States fell by 3 this week, according to new data from Baker Hughes published on Friday. The total rig count slid to 750 this week—275 rigs higher than the rig count this time in 2021. Oil rigs in the United …
Read More »Qatar Takes No Sides in Nuclear Negotiations
The Qatari foreign ministry spokesperson stated that her country takes no sides in the ongoing indirect talks on reviving JCPOA between Iran and the US, adding that building trust between the two sides is a great challenge. Saying that Qatar’s role in the talks is only hosting the indirect negotiations …
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